Wells Fargo Settles with Cuomo

Wells Fargo, the county’s fifth-largest supplier of student loans, has agreed to adopt a new code of conduct crafted by Andrew Cuomo.

In a public statement, Cuomo said, “With this agreement, the five largest providers of student loans in the country have signed on to my office’s Code of Conduct. As our nationwide investigation continues, more lenders and schools are changing their practices. I applaud Wells Fargo for acting decisively to set an example that all lenders should follow. The message is clear – lenders large and small must adhere to best practices and help restore integrity to the student loan industry.”

Just another step on his way to filling Eliot Spitzer’s big shoes.