Sallie Mae Misses Second Chance To Dodge Late Fee Suit

Law360, Los Angeles (August 6, 2013, 9:40 PM EDT) -- Sallie Mae Inc. lost a second bid to dump a class action alleging it charged illegal late fees on student loans when a California federal judge on Monday rejected its motion to dismiss on grounds that the actual lender is based in Oklahoma.

In its second motion to dismiss the case, Sallie Mae argued that Stillwater National Bank & Trust Co. was the original lender and that, as an Oklahoma-based national bank, Stillwater was not subject to California laws.

But the plaintiffs argued that Sallie Mae...
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