Wells Fargo To Pay 4.1 Million to Settle Illegal Student Loan Practices

[james.hendrickson]

Looks like Wells Fargo hasn't gotten the memo.

http://www.reuters.com/article/us-wells-fargo-loans-fine-idUSKCN10X1YI

[disneysteve]

The sad part of that report is that of the $4.1 million settlement, 90% goes to the government agency and only 10% goes to the borrowers. I wonder how many students were affected. How much in bogus fees did they pay? How many of them have negative marks on their credit because of actions taken incorrectly by Wells Fargo?

The government should be ashamed of themselves for sucking up 90% of the settlement. Even lawyers aren't nearly that bad.