Violation Tracker Individual Record

Company: 
Student Loan Xpress, Inc.
Current Parent Company: 
CIT
Penalty: 
$3,600,000
Year: 
2010
Date: 
September 27, 2010
Offense Group: 
consumer-protection-related offenses
Primary Offense: 
consumer protection violation
Violation Description: 

Student Loan Xpress agreed to reduce loan amount by an estimated $3.6 million for students who attended a bankrupt Kentucky law school, in settlement of allegations of misrepresentations in the company's marketing materials and loan applications.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Kentucky Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Kentucky
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
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.