Higher One Nears Settlement

By Michael Stratford. Higher One, the large but often controversial provider of debit cards on college campuses, has reached a preliminary agreement to pay $15 million to settle claims that its fees and marketing practices were predatory, the company announced Tuesday. The settlement, if finalized and approved by a court, would resolve a handful of class-action lawsuits filed in 2012 against Higher One by a dozen students at colleges across the country. A federal judge consolidated the lawsuits filed in five different states -- Connecticut, Mississippi, Alabama, Illinois and Kentucky -- into one class action earlier this year. Read more...