Sallie Mae 2006 Annual Report Download - page 29

or Private Education Loans and the Company’s marketing practices as they relate to preferred lender lists. The
New York Attorney General’s Office has also requested information from other lenders and schools that
participate in the FFELP and FDLP. The Company is cooperating with the New York Attorney General’s
Office in order to provide information and documents responsive to their request. Management cannot predict
the outcome of this request or its effect on the Company’s financial position or results of operations.
We are also subject to various claims, lawsuits and other actions that arise in the normal course of
business. Most of these matters are claims by borrowers disputing the manner in which their loans have been
processed or the accuracy of our reports to credit bureaus. In addition, the collections subsidiaries in our debt
management operation group are routinely named in individual plaintiff or class action lawsuits in which the
plaintiffs allege that we have violated a federal or state law in the process of collecting their account.
Management believes that these claims, lawsuits and other actions will not have a material adverse effect on
our business, financial condition or results of operations. Finally, from time to time, we receive information
and document requests from state attorney generals concerning certain of our business practices. Our practice
has been and continues to be to cooperate with the state attorney generals and to be responsive to any such
requests.
Item 4. Submission of Matters to a Vote of Security Holders
Nothing to report.
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