Sallie Mae 2011 Annual Report Download - page 23
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continued litigation. On October 17, 2011, the court provided final approval of the settlement. We do not expect
the settlement to have a material impact on our financial position or our business.
The Company and its subsidiaries and affiliates also are 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, our
collections subsidiaries are routinely named in individual plaintiff or class action lawsuits in which the plaintiffs
allege that those subsidiaries have violated a federal or state law in the process of collecting their accounts. We
believe 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, the Company receives information and
document requests from state attorneys general and Congressional committees concerning certain business
practices. Our practice has been and continues to be to cooperate with the state attorneys general and
Congressional committees and to be responsive to any such requests.
Item 4. Mine Safety Disclosures
N/A
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