Cuomo urges lawmakers to boost college loan oversight
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New York Attorney General Andrew Cuomo urged Congress to step up supervision of private education lending and said he is widening his investigation of the $85 billion-a-year industry to examine loan criteria.
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The chairman of the Federal Reserve urged Congress to bolster regulation of the mortgage giants Fannie Mae and Freddie Mac.
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House Democrats pushed through legislation yesterday that would boost government-subsidized student loans and other college financial aid by $18 billion over the next five years, despite strong opposition from Republican lawmakers and a White House veto threat.
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U.S. state governors on Friday urged congressional leaders to pass a law that would block cuts in federal Medicaid funding by the Bush administration.
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By Jonathan B. Cox, The News & Observer, Raleigh, N.C.  Feb. 9--An influential lawmaker said Thursday he wants the state to review its use of incentives in luring companies to North Carolina.
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New Yorkâs governor Eliot Spitzer is creating a commission focused on streamlining regulation in the financial services industry.
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Calling for swift reforms in the $85 billion student loan industry, Sen. Edward Kennedy released a report on Tuesday, alleging further instances of marketing misconduct among lenders and universities.
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Abuses in lending to college students grew rapidly because the federal Department of Education and bank regulatory agencies took no action to intervene, Andrew Cuomo, New Yorkâs Attorney General said today.
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Democrats in Congress are pushing to overhaul the nation's student loan system with legislation that would cut federal subsidies to lending companies by as much as $19 billion, channel most of those savings to student aid and ease repayment rules for borrowers.
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Health insurance for children and college loan help are priorities in Congress this fall.
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US Education Secretary Margaret Spellings, criticized for her oversight of the $85 billion-a-year student-loan industry, proposed banning company gifts to colleges and establishing rules for how schools recommend lenders.
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The widening U.S. housing finance  crisis prompted calls in Congress on Thursday for new scrutiny  of bond insurers and credit raters, while Senate Democrats  offered a rescue plan for troubled homeowners.
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Barney Frank, chairman of the House Financial Services Committee, yesterday unveiled legislation aimed at curbing abusive lending practices that, he said, have fueled an alarming rise in foreclosures.
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Congress is trying to end a practice that unintentionally has allowed banks to take in billions of dollars meant to help students pay for college.
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The New York attorney general Andrew M. Cuomo has subpoenaed the First Marblehead Corporation as part of his investigation of the student-loan industry in the United States.
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New York Attorney General Andrew M. Cuomo announced a settlement yesterday with a student loan consolidation company that had been paying universities to use their logos, team names and mascots to generate business.
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An affordable housing fund envisioned as part of a reform measure for mortgage finance companies Fannie Mae and Freddie Mac should have several contributors and be managed by a wide range of housing groups, a top congressional Democrat said on Thursday.