Struggling Sallie Mae Turns to Private Loans and Stock Sale
December 28, 2007
By JOHN HECHINGER - Wall Street Journal
SLM Corp. cited potentially grim prospects for its main federally guaranteed student-loan business, and indicated it was accelerating its push into private loans that aren’t backed by the U.S. government.The biggest student lender, commonly known as Sallie Mae, also said that it faced a federal inquiry into its billing practices for high-return loans and a recent lawsuit from customers alleging racial discrimination. Read more
Suit claims BB&T hid real estate scheme
December 7, 2007
A fired worker’s complaint is the 2nd in a month claiming banks took part in fraudulent loans in Mitchell County. A former corporate investigator for BB&T filed suit Thursday against North Carolina’s third-largest bank, saying the company fired her in June for refusing to participate in the coverup of a $20 million loan fraud.Amy Stroupe, a sheriff’s detective before she was hired by BB&T in 2005, said the loans were made as part of a failed real estate development in western North Carolina. The development, the Village of Penland, collapsed in May with investors owing banks an estimated $120 million. Read more
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Recalls and Product Safety News- Sony Recalls Notebook Computers Due to Burn Hazard
- Wolf Appliance Recalls Gas Ranges Due to Burn Hazard
- Pendants and Candle Charms Recalled Due to Risk of Lead Exposure
- Optave Inc. Recalls Action Baby Carriers Due to Fall Hazard
- Cordless Screwdrivers Recalled by Menards Due to Fire and Burn Hazards
- Worldwise Inc. Recalls Retractable Dog Leashes; Metal Clasp Can Break and Cause Facial and Body Injuries to Dog Owners
