The Illinois Republican was indicted by federal prosecutors for lying to the FBI about $3.5 million he withdrew from banks in what two sources told CNN was an agreement to pay a former student to keep quiet about allegations of sexual abuse. The incident stems from the time before Hastert entered politics, when he was a high school teacher and wrestling coach.
The name of Hastert, a Wheaton alum, had adorned Wheaton's J. Dennis Hastert Center for Economics, Government, and Public Policy.
But the former speaker resigned from the center's board of advisers last week and on Sunday, the school announced it is dropping his name from the building.
"We commit ourselves to pray for all involved, including Speaker Hastert, his family, and those who may have been harmed by any inappropriate behavior, and to continue the work and mission of the Wheaton College Center for Economics, Government, and Public Policy," the college said in a statement posted on its website.
Hastert has resigned other positions, as well, quitting his lobbying job for Dickstein Shapiro and leaving the board of futures exchange company CME Group.