Fed, FDIC Order Higher One to Repay 1.5 Million StudentsBy
Company faces penalties from Fed and FDIC for practices
Fed: No tolerance for deceptive marketing to students on loans
The Federal Reserve and Federal Deposit Insurance Corp. fined financial services provider Higher One Inc. for misleading almost 1.5 million students into paying unnecessary fees to access their financial aid, marking the latest official effort to crack down on unfair practices on America’s college campuses.
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