Sallie Mae 2014 Annual Report Download - page 29
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the process for obtaining such approval is complicated and time-consuming, often taking longer than six months, and a
proposed acquisition may be disapproved for a variety of factors, including, but not limited to: antitrust concerns, financial
condition and managerial competence of the applicant, and failure of the applicant to furnish all required information. Under
the FDIC’s CIBC Act regulations, control is rebuttably presumed to exist, and notice is required, where a person owns, controls
or holds with the power to vote 10 percent or more of any class of our voting shares and no other person owns, controls or holds
with the power to vote a greater percentage of that class of voting shares.
Item 1B. Unresolved Staff Comments
None.
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