A national student loan servicer headquartered in New Jersey will pay a $236,309 settlement to New York state for operating as a sales finance company without a license, under an agreement announced by the state’s top financial regulator.
Tuition Options LLC, whose chairman, Tim Fitzpatrick, formerly led Sallie Mae as CEO, will pay a $203,000 civil penalty and an additional $33,309 in disgorgement under the agreement with the New York Department of Financial Services.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]