- Xerox (NYSE:XRX) agrees to pay $2.4M to settle Massachusetts prosecutors’ accusations that the company mistreated student debtors in violation of state laws banning unfair and deceptive practices.
- XRX allegedly took months to process debtors’ applications to make reduced payments under a federal program, charged excessive fees, harassed borrowers with phone calls, and overcharged active-duty service members in violation of federal law, according to the Massachusetts Attorney General.
- XRX has been in the student loan business since its 2010 purchase of Affiliated Computer Services; in January, XRX decided to split into two companies, forming Conduent Inc., which took over the student loan unit and other divisions that specialize in business services.