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Sigma Alpha Epsilon, one of the oldest fraternities in the country, announced Friday that it would be halting the traditional pledging process, which has ranged from standing waist-deep in ice while wearing diapers to drinking until you pass out or, in too many cases, die. At least 10 deaths since 2006 have been linked to SAE events. The fraternity, whose alumni include President William McKinley and author William Faulkner, earned $6.7 million in 2012, but spent nearly a quarter of it on insurance. SAE has faced multiple lawsuits and criminal investigations as a result of its pledging and hazing rituals. "We have experienced a number of incidents and deaths, events with consequences that have never been consistent with our membership experience," SAE said. Instead, new members will be part of a process called the “The True Gentlemen Experience,” which includes alcohol-safety training.