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Navient agreed to Thursday’s settlement without admitting any wrongdoing, saying in a press release that the agreement “puts these decade-old issues behind us.” Contact us at letters@time.com .
Navient is barred from federal student loan servicing and has to pay $120 million in fines and compensation to the borrowers harmed by its practices, according to a proposed settlement with the ...
Tens of thousands of people who took out student loans over the past 20 years could see their loans canceled or receive a small check as part of a nationwide settlement with Navient, a major ...
In 2022, Navient offered relief or restitution to select borrowers following a lawsuit by 39 state attorneys general. Eligible borrowers were notified by email in 2022 and received relief ...
The company acquired asset recovery and business process outsourcing firm, Gila LLC, [15] and health care payments firm Xtend Healthcare. [16] On September 28, 2021, Navient announced that they planned to cease servicing federal student loans. It initially asked to offload its responsibilities to another federal loan servicer, Maximus Inc. [17]
In July 2024, the American Federation of Teachers (AFT) filed a lawsuit against MOHELA. The lawsuit accusing the company of mismanaging eight million student borrowers' accounts and preventing borrowers from making their payments and receiving debt relief. [ 22 ]
Now that student loan servicing company Navient has agreed to a $1.85 billion settlement over alleged predatory and deceptive lending practices, tens of thousands of loan recipients might soon be...
In March 2024, a settlement in the injunctive relief portion of the payment card interchange fee case was announced to reduce what are known as "swipe fees" for merchants in the U.S. This change, set to last five years, was expected to save retailers about $30 billion and mark the end of a long-standing legal battle over antitrust issues ...