October 26, 2007

Cuomo Subpoenas Loan Companies Over Marketing Practices to Students

By PAUL BASKEN

For the past eight months, New York State's attorney general, Andrew M. Cuomo, has been criticizing student-loan companies for how they pursue business relations with colleges. Now he is finding fault with how they go after students.

Mr. Cuomo announced this month a new round of 33 subpoenas to companies he suspects of using misleading marketing practices, such as offering false gift cards and rebate offers, and creating solicitation letters designed to look like official government

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