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Illinois leads multistate probe of Sallie Mae's student loan practices
Source: Reuters
Illinois leads multistate probe of Sallie Mae's student loan practices
BY JOSEPH AX
NEW YORK Thu Feb 20, 2014 11:33pm EST
(Reuters) - SLM Corp, better known as Sallie Mae, faces a multistate probe led by Illinois into its student loan practices, a spokeswoman for Illinois Attorney General Lisa Madigan said on Thursday.
The investigation is part of an increasingly broad review of student lending by state and federal regulators.
In a filing with the U.S. Securities and Exchange Commission on Wednesday, Sallie Mae said it was facing "significant year-over-year increases" in the number of investigative demands and in the breadth of information being sought.
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Madigan's spokeswoman, Natalie Bauer, said Illinois and other states have opened an "active investigation" into Sallie Mae's loan servicing and debt collection practices, among other issues. She would not identify the other states involved in the inquiry.
[font size=1]-snip-[/font]
BY JOSEPH AX
NEW YORK Thu Feb 20, 2014 11:33pm EST
(Reuters) - SLM Corp, better known as Sallie Mae, faces a multistate probe led by Illinois into its student loan practices, a spokeswoman for Illinois Attorney General Lisa Madigan said on Thursday.
The investigation is part of an increasingly broad review of student lending by state and federal regulators.
In a filing with the U.S. Securities and Exchange Commission on Wednesday, Sallie Mae said it was facing "significant year-over-year increases" in the number of investigative demands and in the breadth of information being sought.
[font size=1]-snip-[/font]
Madigan's spokeswoman, Natalie Bauer, said Illinois and other states have opened an "active investigation" into Sallie Mae's loan servicing and debt collection practices, among other issues. She would not identify the other states involved in the inquiry.
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Read more: http://www.reuters.com/article/2014/02/21/us-salliemae-probe-idUSBREA1K04W20140221
