The U.S. Department of Justice (DOJ) and the Federal Deposit Insurance Corporation (FDIC) both recently imposed actions against Sallie Mae for not fulfilling legal obligations to military service members. The DOJ announced an enforcement action against Sallie Mae, while the FDIC reached a settlement with the loan provider for student loan servicing misconduct. According to the CFPB statement, “Sallie Mae is ordered to pay $96.6 million in restitution and penalties.” CFPB’s Assistant Director Holly Petraeus issued this statement regarding these actions: “I have been concerned for some time about the way that military personnel are treated by their student loan servicers. […] Sallie Mae gave servicemembers the runaround and denied them the interest-rate reduction required by law.” For more, read the full release, which includes a link to this previous related report on the issue.