Nelnet agrees to settlement
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From Times Wire Services
Nelnet Inc., the leading consolidator of student loans, agreed to pay $2 million as part of a settlement ending an investigation of its business practices.
New York Atty. Gen. Andrew Cuomo, as part of an investigation into the $85-billion-a-year student-loan business, had accused Lincoln, Neb.-based Nelnet of making payments to college alumni groups in exchange for getting loan referrals. As part of the settlement Nelnet agreed to stop making these payments and to adopt other reforms.
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