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.
