Brian has done an excellent job finding and posting two Public Infraction Reports for schools with similar violations to Michigan's. I looked around the internet a little, and found a summary of Alabama's last few run-ins with the NCAA and the report from Florida State's recent violations.
These cases were both much more severe than Michigan's, so I wanted to show what the upper bounds were for the NCAA right now. Alabama's is interesting, because the school and its boosters did some crazy shit and lost only 21 scholarships from 1995-1997. This is a huge penalty for some bad stuff, including $24000 in loans and a lack of institutional control.
Remember, major violations is a technical term, not necessarily a description of awfulness. I'm posting this mainly because I thought there might be interest in this after the morning email.