§ 904. Violations. 1. If the superintendent finds, after notice and
hearing, that a student loan servicer has knowingly violated this
article by failing to comply with any reporting requirement or by
knowingly furnishing materially inaccurate information to the
superintendent, the superintendent may impose a civil penalty of not
more than ten thousand dollars for each violation.

2. The superintendent may order that any person who has been found to
have knowingly violated any provision of this article, or of the rules
and regulations issued pursuant thereto, and has thereby caused
financial harm to consumers, be barred for a term not exceeding ten
years from acting as a student loan servicer, or a stockholder, or an
officer, director, partner or other owner, or an employee of a student
loan servicer.