CFPB Sues Nation's Largest Student Loan Company Navient for Failing Borrowers at Every Stage of
According to a Consumer Financial Protection Bureau (CFPB) press release on January 18, 2017 --- the CFPB is suing the nation's largest servicer of both federal and private student loans for systematically and illegally failing borrowers at every stage of repayment. For years, Navient, formerly part of Sallie Mae, created obstacles to repayment by providing bad information, processing payments incorrectly, and failing to act when borrowers complained. Through shortcuts and deception, the company also illegally cheated many struggling borrowers out of their rights to lower repayments, which caused them to pay much more than they had to for their loans. The Bureau seeks to recover significant relief for the borrowers harmed by these illegal servicing failures. For more information on the CFPB suing nation's largest student loan company Navient for failing borrowers at every stage of repayment click on the pictures below to read the articles.