• Scholly founder Christopher Gray filed whistleblower lawsuit in Delaware Superior Court against SLM Corp over alleged student data sales through non-bank unit SLM Education Services.
• Complaint alleges dual-website structure used to bypass Gramm-Leach-Bliley Act limits on banks selling nonpublic personal financial information.
• Suit cites March 4, 2026 launch of Backpack Media, marketed as reaching 8.5 million students, families, and young professionals.
• Gray also filed complaint with SEC Office of Whistleblower, citing anti-retaliation protections under Dodd-Frank.
• Complaint says Gray was terminated before planned meeting with CEO Jon Witter to raise concerns.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. SLM Corporation published the original content used to generate this news brief via PR Newswire (Ref. ID: 202604291053PR_NEWS_USPR_____NY45771) on April 29, 2026, and is solely responsible for the information contained therein.