Sallie Mae 2010 Annual Report Download - page 11
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Please find page 11 of the 2010 Sallie Mae annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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reimbursement between ED and our Guarantor clients. As a third-party service provider to financial
institutions, we are also subject to examination by the Federal Financial Institutions Examination Council
(“FFIEC”).
Our originating or servicing of federal and Private Education Loans also subjects us to federal and state
consumer protection, privacy and related laws and regulations. Some of the more significant federal laws and
regulations that are applicable to our business include:
• the Truth-In-Lending Act;
• the Fair Credit Reporting Act;
• the Equal Credit Opportunity Act;
• the Gramm-Leach-Bliley Act; and
• the U.S. Bankruptcy Code.
Our Business Services segment’s debt collection and receivables management activities are subject to
federal and state consumer protection, privacy and related laws and regulations. Some of the more significant
federal statutes are the Fair Debt Collection Practices Act and additional provisions of the acts listed above, as
well as the HEA and under the various laws and regulations that govern government contractors.
These activities are also subject to state laws and regulations similar to the federal laws and regulations
listed above.
The Bank is subject to Utah banking regulations as well as regulations issued by the FDIC, and undergoes
periodic regulatory examinations by the FDIC and the Utah Department of Financial Institutions.
Our Upromise activities are subject to regulation by the Municipal Securities Rulemaking Board, the
Financial Industry Regulatory Authority (formerly the National Association of Securities Dealers, Inc.) and the
SEC, as well as various state regulatory authorities.
10