Higher One Holdings Inc. is on the brink of a deal with federal regulators investigating fees the company charged to college students, the Associated Press reports.
The company markets bank cards and checking accounts to students on hundreds of campuses using college and university letterhead, and has been criticized by consumer groups for its numerous and high fees. The fine would end an 18-month investigation of overdraft fees charged between 2008 and 2011, according to A.P. sources, who did not disclose the amount of the fine because the deal has not been made final.
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Source: http://chronicle.com/blogs/ticker/feds-to-fine-higher-one-finance-firm/45847
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