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Violation Tracker Individual Record

Company: Sallie Mae Inc.
Current Parent Company: SLM Corp.
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $76,000,000
Year: 2013
Date: November 21, 2013
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Mega-Scandal: Student Loan and For-Profit College Abuses
Violation Description: Sallie Mae agreed to reduce student loan balances for 40,000 borrowers by $76 million to settle litigation alleging it improperly applied a 25 percent collection cost fee.
Level of Government: federal
Action Type: private litigation
Court: Northern District of California
Civil or Criminal Case: civil
Case ID: 3:10-cv-03602
Case Name: Bottoni et al v. SLM Corporation et al
Private Lawsuit Resolution Type: settlement
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)
Link to PACER Case Docket (must be logged in): (click here)
Link to Archived Court Document:  subscribe to see this data field
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.