Cuomo, trade group debate loan abuse case

? New York’s attorney general criticized college financial aid officials Saturday for proposing a code of conduct he said fails to curb abuses in the student loan industry his office has uncovered.

Andrew Cuomo, whose office has investigated the industry for months, made his views known in a letter to the group that represents aid officers.

“The code you have proposed is inadequate in that it does no more than recite vague, lofty goals of generalized ethical behavior,” Cuomo wrote Dallas Martin, president of the National Association of Student Financial Aid Administrators.

A lawyer for the association said the group had sent Cuomo’s office a revised proposal. But a Cuomo spokesman said the office had not received an updated code.

Cuomo’s letter, obtained by The Associated Press, says the association should adopt the code of conduct he has developed and two dozen universities and six student loan companies have agreed to follow.

The House passed legislation this month that requires schools to develop rules similar to Cuomo’s plan.