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If approved by the court, the agreement will settle a 2017 lawsuit, in which the U.S. Consumer Financial Protection Bureau (CFPB) accused Navient of misleading student loan borrowers and not ...
Navient said it did not act illegally, and it did not admit any fault in the settlement. ... Nearly $27,000 in interest was added to his loans after 2004, the lawsuit said.
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 ...
Navient Corporation is an American student loan servicer based in Wilmington, Delaware. ... In June 2016, stockholders filed a class action lawsuit against Navient ...
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 ...
In recent years, some student loan servicers have gone under legal scrutiny for alleged wrongdoing. Navient, formerly Sallie Mae, was charged with multiple class action lawsuits for their loan servicing methods. Navient was also sued by the Consumer Financial Protection Bureau (CFPB) for improper handling of borrower relations.
This included "badgering" consumers for debts already released through bankruptcy, lawsuits or threats of lawsuits over debts released because "the statute of limitations had expired", put pressure on consumers by claiming their "old debt" is a "new one", thereby "illegally 're-aging' debts on credit reports and extending the seven-year limit".
The student loan servicing provider Navient reached a deal to cancel $1.7 billion in delinquent private student loans belonging to more The post Navient to cancel $1.7B in student loans over ...