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Sallie Mae Ordered to Pay $96.6M for Violating Troops’ Rights

Justice Department officials announced an enforcement action yesterday against the nation's largest servicer of federal and private student loans, which was found to be systematically violating the legal rights of U.S. service members. Sallie Mae -- also known as Sallie Mae Bank and Navient Solutions -- is ordered to pay $96.6 million in restitution and penalties, officials said, adding that the Federal Deposit Insurance Corporation also reached a settlement with the companies that addresses allegations of student loan servicing misconduct.

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