Looming Lawsuits

Sallie Mae Spinoff Navient Could Face CFPB Lawsuit Over Student Loans

Sallie Mae Spinoff Navient Could Face CFPB Lawsuit Over Student Loans

In the short time since Navient – the nation’s largest student loan servicing company – spun off from Sallie Mae, the company has come under scrutiny for it allegedly unfair practices of overcharging and imposing excessive fees on consumers’ loans. While those practices resulted in a $97 million settlement with the Depts. of Education and Justice, and the Federal Deposit Insurance Corp, they could soon lead to a lawsuit from the Consumer Financial Protection Bureau. [More]