Navient in crosshairs of CFPB lawsuit

By Sasha Padbidri
19 Jan 2017

The Consumer Financial Protection Bureau (CFPB) announced on Wednesday that it is suing student loan servicer Navient for “systematically and illegally” failing borrowers by creating obstacles to loan repayment.

The CFPB’s suit comes after Navient rejected an alleged ultimatum by the CFPB to “settle by Inauguration Day” or be sued.

Navient released a statement on Wednesday denying the claims, describing the CFPB allegations as “unfounded”.

“The timing of this lawsuit—midnight action filed on the eve of a ...

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