Trump argued passionately that the Better Business Bureau had given his "university" an A, but Kelly took him on.
"The rating from the better business bureau was a "D" minus, the last publicly available rating. In 2010. It was the result of a number of complaints," Kelly said.
Trump claimed that "it was elevated to an "A," but Kelly affirmed "That's never been publicly released."
"Let's bring the viewers up to speed," Kelly said. "Let me set the record then you guys can have at it. Trump University, a business that you started, and it was marketed to many people and now there is a class action of over 5,000 plaintiffs against you, Mr. Trump."
Trump tried to jump in.
"The lead plaintiff is now getting out of the case because it's so bad for her," Trump said.
Kelly fought Trump back about the merits of his case.
"Okay. Stand by. What happened in that case was you countersued her. The court threw out your countersuit, made you pay legal fees of hers."
Trump interrupted again, but Kelly kept going.
"Stand by. This is what the court of appeals found. They said that the plaintiffs against you are like the Madoff victims."
"Give me a break," Trump said.
"What the court of appeals said," Kelly started again. "They found victims of con artists sing the praises of their victimizers until they realize they have been fleeced."
According to a report from NBC News, Trump's business at one time did have an "A +" grade from the Better Business Bureau, but after a flurry of complaints, the BBB did downgrade Trump U's grade to as low as a "D-" at one point on an A to F scale.
During a commercial break, Benny Johnson tweeted that Trump walked over and handed the debate moderators updated Better Business Bureau information.
— Benny (@bennyjohnson) March 4, 2016