Sallie Mae 2015 Annual Report Download - page 154

SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, unless otherwise noted)
19. Commitments, Contingencies and Guarantees (Continued)
F-64
at this time to predict the duration or outcome of the investigation. Given the timeframe covered by this demand and the focus
on practices and procedures previously conducted by Navient and its servicing subsidiaries, Navient is leading the response to
this investigation and has accepted responsibility for all costs, expenses, losses or remediation that may arise from this
investigation.
Contingencies
In the ordinary course of business, we and our subsidiaries are routinely defendants in or parties to pending and
threatened legal actions and proceedings, including actions brought on behalf of various classes of claimants. These actions and
proceedings may be based on alleged violations of consumer protection, securities, employment and other laws. In certain of
these actions and proceedings, claims for substantial monetary damage may be asserted against us and our subsidiaries.
It is common for the Company, our subsidiaries and affiliates to receive information and document requests and
investigative demands from state attorneys general, legislative committees, and administrative agencies. These requests may be
for informational or regulatory purposes and may relate to our business practices, the industries in which we operate, or other
companies with whom we conduct business. Our practice has been and continues to be to cooperate with these bodies and be
responsive to any such requests.
We are required to establish reserves for litigation and regulatory matters where those matters present loss contingencies
that are both probable and estimable. When loss contingencies are not both probable and estimable, we do not establish
reserves.
Based on current knowledge, management does not believe there are loss contingencies, if any, arising from pending
investigations, litigation or regulatory matters for which reserves should be established.