Violation Tracker Individual Record

Company: 
Navient Solutions, Inc.
Current Parent Company: 
Navient
Penalty: 
$33,300,000
Year: 
2014
Date: 
May 13, 2014
Primary Offense: 
banking violation
Secondary Offense: 
student loan 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 Parent: 
USA
HQ State of Parent: 
Delaware
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.