. >>> meantime, student loan giant sallie mae has agreed to pay about $100 million in fines to federal regulators. that money goes to settle allegations that sallie mae was charging military members with excessive interest rates. the troops could get that money back. >>> these are boone times for winemakers and sellers across america. the u.s. has become the world's biggest wine market. consumption rose slightly here last year while falling nearly 7% in france, which dropped it to second place. >>> and facebook founder mark zuckerberg is making another milestone. marking another milestone. he is celebrating his 30th birthday. the harvard dropout is one of the richest people in the world with a reported net worth of $31 billion. that, by the way, is more than $1 billion bucks for each candle on his cake. >> wow. >> a small part of me that hates him. >> exactly. that is so wrong. >>> when we come back, slapped in cuffs and put in a police car. why did alec baldwin get arrested? >>> underwater scare. a scuba session turns ugly when one diver appears to attack another. you're on to the nex

sally mae is worst. i tried to give the minneapolis hits. local bar.t -- best buy, down 34% this year. 42% off its 52-week high of last november. it was a great last year and awful this year. >> okay. let's move on. >>> los angeles clippers. >> l.a. clippers owner donald sterling may dig in his heels about the sale of the team. \s what happens to the franchise if this turns into a long, drawn-out legal battle? let us bring in sports attorney darren hydran. donald sterling is a lot of things. we've learned that in the last week or\s. but what he isn't is afraid of a courtroom. do you think he will fight this thing? >> from the people i've talked to who have spoken to him in the past, it is not hard to assume that he will fight this. it would be very easy for him to just sell off the clippers right now. we see that there are a variety of potential suitors, including floyd mayweather, david geffen, oprah winfrey, et cetera. but it looks like there will be a long, drawn-out battle between donald sterling and the nba. >> can you quantify to what degree the

student lender sallie mae reached a 60 million-dollar settlement with the federal government. the deal helps resolve allegations that sallie mae charged servicemembers excessive interest rates on their student loans. >>> if you have been wanting to buy a pair of google glass, here is your chance. starting today, the high-tech glass goes on sale to the public for $1,500. unlike last month's one day sale, the supply is not limited. google says it's still in the testing period for google glass as they continue to develop hardware. a full-blown consumer launch is set for the end of the year. >>> father's day is coming up. yankee candle has something new. i don't know if i associate candles with father's day but what is it? >> these candles. >> reporter: how about a, uhm, yeah, how about a man candle? yankee candle has rolled out its father's day line. there are some new additions this year. one is called on tap. it smells like a draft beer. one is called camouflage which smells woodsy. the father's day man's line also includes candles that smell like freshly cut grass, bacon and t

looking at sallie mae, their fixed-rate loans range anywhere from 5.75% above 12%, as much as that much, and a variable rate loan, yes, if if you have outstanding credit, maybe you can qualify for one around 2%, a little more than that, but it's going to fluctuate and could go um more than 10%. >> talking about fluctuating and high numbers, elizabeth warren, senator from massachusetts, is proposing some kind of refinance bill so you could refinance your student loans like we refinance our mortgages. do you think this proposal will go through? >> there's a lot of merit to it. anyone with a big loan balance and not a lot of income, this is supposed to help them. and so bringing those rates down, and she's looking at the rates we currently have, under 4% for that stafford loan, refinancing at that level would be a great idea. but it's very unlikely that this is going to get through with all the different hurdles that we'll have to go through in terms of how divided congress is right now. there's not a lot of likelihood that people think it's going to pass, but there are pars of this bill t

mortgage giants sallie mae and freddie mac are also being urged to loosen credit standards for some buyers. >> my husband and i are in the perfect position. you know, we both make good salaries, we don't have a lot of debt. but it's even hard for us to get a mortgage. >> reporter: the o'connors have a bid pending on a three-bedroom house near miami, priced at nearly $300,000. but it needs work. the new federal rules for down payments and credit standards are expected to be finalized by the summer. vicente arenas, cbs news, miami. >> o'donnell: blighted buildings have plagued detroit for decades. today, a task force said it will cost nearly $2 billion to remove all 85,000 of them. one in three strictures needs to be fixed up or torn down. detroit is bankrupt and will seek help from the state and the federal government to pay for this. warning signs were posted for all to see. so why could no one stop a deadly rampage? and former president george w. bush has surgery when the cbs evening news continues. ws continues. honestly, the off-season isn't really off for me. i've got a lot to do. that

and forbes media ceo tells that's why the sallie mae and go away wall street mantra isn't really ring true. well, a few thoughts now on the pending sale of the los angeles clippers to steve balmer. a story that has been widely reported in sports and entertainment media is a huge win for the nba and for those who are part of this. a great way to force the water. he had agreed to pay for it te right to that clippers are that the second-highest sale price for any north american sale franchise. only the l.a. dodgers told for more, and that was barely 100 million more and so what has ballmer really bought? despite eight short run of recent success from the clippers have been a historically awful franchise under sterling. during his 33 year tenure coming he posted only five winning seasons, which made the playoffs exactly zero championships. posting the lowest winning percentage among every team in the nba, the nfl, nhl, major league baseball, the team hasn't had a place since moving out of the los angeles sports arena back in 1994. sterling rented space at the arrowhead pond from the anahe

. >> sallie mae agreeing to pay $100 million that charge military excessive loans. will pay more than 60 million of that to 60,000 service members. >> obamacare contractors pay to do -- paid to do nothing? employees at a cross successing center have almost no work processing two paper applications a month the rest of the time sitting at their computers hitting the refresh button every 10 minutes. the contractor circumstance co awarded more than 1 billion to process paper applications. they say there aren't that many the bugs. >> the suspect included 6 doctors accused of making false billing. it used the tax funded programs after their personal atm. >> the laetst shock factor in the irs. they have wrongly shelled out billions of dollars worth of tax credit. we are joined with the details. another reason to # recent the irs. they have tax credits to people who weren't eligible. most recently the irs improperly paid out between 13.3 billion and 15.6 billion worth of earned income tax credit an amount that equals a quarter of the total of those types of credits. they ar

. >>> sallie mae has agreed to pay $100 million in fines to federal regulators to settle allegations that they charged military members with excessive rates. the troops could be reimbursed. >>> the ntsb has an investigation into the role tires play in hundreds of deadly traffic accidents each year. the focus is tires that seem safe tending to full apart after only six years. we investigate later. >> the united states is the biggest wine market with consumption rising sharply and following 7 percent in france dropping to second place. clears to that. that is america's money. have a good day. >>> a city leader wants do make it harder for national chains to open new stores in san francisco. supervisors believe restricting the big chains will protect the small business while preserving the character of neighborhoods. country laws apply to companies with 11 or more stores across the united states but there was a proposal introduced to add auto repair shops and hotels. crediters believe antichain laws sure the local economy. >> nothing says love like a diamond especially a 13carat blue dia

the probe wasn't limited to federal student loans in fact the investigation found evidence that sallie mae cheated active duty members of the military as well they provided them loans at a legally high interest rates and if you've ever seen the p.r. machine of military recruitment you know that cheap education is a huge selling point. is this an acceptance letter. it's a diploma. it's a compass. to train and a coach jersey is the greatest team it's more. it's an education anywhere else there's strong and then there's army strong but army strong doesn't ensure that predatory loan corporations will follow the law so the service members civil relief act specifically requires that companies collecting payments on student loans keep rates at no more than six percent or get this according apartment education's own data as of july of two thousand and twelve nearly sixty percent of all federal student loans carried interest rates above six percent furthermore according to consumer financial protection bureau forty one percent of service members are still paying off student loans and those who grad

that's how much student lender sally mae will have to pay to settle claims they charged military membersects include 16 doctors accused of making $260 million worth of false billing. and two. that's how many paper applications obamacare contractors in st. louis are tasked with processing per month. a whistle blower coming out to say employees are being paid to basically do nothing. that means zero. >> way to go. they just refresh their screen. tom styer pledged to raise $100 million for democratic candidates to push his anti-keystone pipeline climate change agenda. but where did stier make a lot of his money? fossil fuels. here to explain, charles payne is here. he made his money how? >> a large chunk of it from investing in things like coal. in fact, listen, his fund right now is worth about 19 billion. about 10% of that is still invested in energy. they won't say what exactly. don't necessarily have to. coal projects all around the world. indonesia. there has been this build up for coal demand. the tar sands out of canada. pipeline deals. it runs the gamut. so it's so amazing in this g

old tony massarotti who at the time owed around sixty thousand dollars in student loan debt to sallie mae always made on time payments was told that he had to immediately make a payment of ten grand or face asset seizures and because his grandmother who also happen to be the cosigner and student loans had just died christopher kibler was also told by sallie mae that he had to immediately pay back nearly twenty two thousand dollars in student loan debts because his father the cosigner on his loans had just passed away these two young adults are just two of the many victims of what the consumer financial protection bureau refers to as auto defaults when banks immediately say that private student loan debts are in default because of the death or bankruptcy of a cosigner the auto default process or practice is just one of the many ways the big banks wall street executives are making billions of dollars off an entire generation of struggling debt ridden americans right now is over one point one eight trillion dollars in outstanding student debt in america more than forty million americans hold

i'm still giving to sally mae. >> at most hbcus the endowments are comparatively small.nt, howard university with $513 million. but the endowments at all 105 hbcus combined is still less than 10% of the endowment at harvard. a recent university of pennsylvania report found schools with smaller endowments have more problems with accreditation, recruiting, student retention, and leadership. professor mary beth gasman co-wrote that report. >> most have tiny fundraising staffs, not like large research institutions or well-endowed small colleges. they have tiny fundraising staffs. they don't have the infrastructure to raise a lot of money. >> we will need to have much greater support from those who are -- who have some affinity with the mission of the school and recognize the opportunities hbcus provide. not just as a vehicle for african-american students but as a model of diversity. >> to stay competitive, some of the institutions are diversifying. schools founded to train teachers are retooling to turn out engineers and scientists. >> it's called laser induced breakdown spe

recently sallie mae agreed to pay $97 million to settle an allegation that military service members were charged excessive interest and fees on student loans. that's appalling and unacceptable. the amendment would require an investigation of these scam practices, ensure that they are stopped, and would require in the future that borrowers are informed of their rights. our men and women in uniform and our veterans deserve our protection against fraud and to see that their g.i. bill supports a high quality education that leads to a high quality job and nothing less. finally with the drawdown in afghanistan and the rebalance, many of our service members are traveling extensive distances to and from gloiments. during this travel men in uniform are being charged excessive baggage fees by commercial airlines. the amendment would prohibit airlines from collecting these fees, much of which is being charged on lifesaving equipment that sr. viss members are buying and bringing in on their own because the department doesn't supply what's necessary. while it may seem like a small change, it will eas