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11/06/2013 09:34 am ET

Higher One Nears Settlement | Inside Higher Ed

Facebook: Higher One

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.

At issue in the case were Higher One’s debit card accounts that the company provided to college students.

Read more on Inside Higher Ed

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