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Violation Tracker Individual Record

Company: Student Loan Xpress, Inc.
Current Parent Company: First Citizens BancShares
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $112,825,000
Year: 2009
Date: October 27, 2009
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Mega-Scandal: Student Loan and For-Profit College Abuses
Violation Description: In order to resolve multistate litigation, Student Loan Xpress, Inc. agreed to provide $112.7 million in debt relief to students who paid for helicopter flight instruction they never received. It also agreed to pay the states $125,000 for legal costs.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: North Carolina
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.