Source:
CNN Money.com(Video caption): "Millions of American students have been scammed by the student loan industry. CNN's Christine Romans reports."
The Wall Street giant, a major student lender and part of the group buying Sallie Mae, is accused of conflict of interest in hiring of college student aid workers.
May 8 2007: 9:29 PM EDT
WASHINGTON (Reuters) -- Congressional investigators probing student loan problems said Tuesday that JPMorgan Chase & Co. paid five college student aid officers to do work for the bank while they were on college payrolls.
In 2005 the bank also arranged a $70,000 dinner cruise in New York City harbor for more than 200 student aid officers, the investigators said, adding to conflict-of-interest allegations in a widening student loan scandal.
Read more:
http://money.cnn.com/2007/05/08/news/companies/jpmorgan_studentloans.reut/index.htm?section=money_latest