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SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking.Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans.
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The OCC's charges specifically listed detailed charges involving management, board supervision, capital planning, and risk ratings. Additional charges involved loan reviews, allowance for loan and lease losses, and credit administration. The Consent order formally initiated cease and desist proceedings against the facility. [5]