SLM Corp., the student loan provider better known as Sallie Mae, on Friday rejected as “meritless” a J.P. Morgan Chase & Co. lawsuit to dissolve the companies’ nine-year student loan joint venture.
J.P. Morgan, the No. 2 U.S. bank, on Thursday told the Delaware Chancery Court that dissolution is necessary because Sallie Mae has begun to lend money to students on its own, and no longer has an incentive to promote Chase-branded loans.
Sallie Mae, the largest U.S. student loan provider, countered that it had honored its contractual commitments.
For this complete story, please visit Sallie Mae Calls JP Morgan Loan Lawsuit Meritless.
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