Warren Seeks FHFA Info On $8.5B Sallie Mae Credit Line

Law360, New York (June 24, 2013, 3:29 PM EDT) -- Sen. Elizabeth Warren, D-Mass., on Monday asked for more information about an $8.5 billion line of credit offered to Sallie Mae Inc. by a Federal Home Loan Bank that the senator said may have been a "backdoor" loan to the leading private student lender.

In a letter to Federal Housing Finance Agency acting Director Edward DeMarco, Warren said that the line of credit, which Sallie Mae received access to in January 2010, allowed the nation's largest private student lender to borrow at low interest rates that...
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