House votes to crack down on student lenders

Reuters
The U.S. House Wednesday overwhelmingly passed a bill cracking down on conflicts of interest in the $85 billion student loan market amid a widening scandal.

Adopted by a 414-3 vote, the bill would require colleges and lenders to abide by new codes of conduct; ban gifts from lenders to college aid officers; require disclosure of college-lender relationships; and protect students from aggressive marketing practices. Read full article

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