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Sen. Elizabeth Warren (D-Mass.) took Sallie Mae and the Federal Home Loan Banks to task Tuesday during a Senate Banking Committee hearing on private student loans over a FHLB line of credit that has allegedly produced big profits for Sallie Mae.

Warren first broached the subject in an April 24 letter to Federal Housing Finance Agency Acting Director Edward DeMarco in which she questioned an $8.5 billion line of credit from the FHLB of Des Moines, Iowa, to Sallie Mae. 

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