Banks Say Deals With Colleges Could End If U.S. Rule Adopted
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Negotiations between industry, consumer groups and universities on U.S. rules for banking services aimed at college students have stalled over a Department of Education proposal to ban most account fees.
Financial companies say that if the proposal is adopted it could upend the multimillion-dollar marketing deals between universities and firms including Wells Fargo & Co., U.S. Bancorp and Huntington Bancshares Inc. Advocacy groups maintain that the banks are deliberately painting a worst-case scenario.