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Violation Tracker Individual Record

Company: Sallie Mae Bank
Current Parent Company: SLM Corp.
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $93,300,000
Year: 2014
Date: May 13, 2014
Offense Group: financial offenses
Primary Offense: banking violation
Secondary Offense: Servicemembers Civil Relief Act
Mega-Scandal: Student Loan and For-Profit College Abuses
Violation Description: The Federal Deposit Insurance Corporation announced a settlement with Sallie Mae Bank and Navient Solutions Inc. for alleged unfair and deceptive practices related to student loans in violation of Section 5 of the Federal Trade Commission Act (Section 5) and for violations of the Servicemembers Civil Relief Act (SCRA).
Level of Government: federal
Action Type: agency action
Agency: Federal Deposit Insurance Corporation
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Delaware
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.