CFPB Sues Country’s Prominent Student loan Business Navient to own A failure Borrowers at every Phase out of Installment
Washington, D.C. – Today the user Monetary Protection Agency (CFPB) is actually suing the nation’s biggest servicer out of one another government and personal college loans to possess systematically and you can illegally failing consumers at each and every stage from payment. For years, Navient, formerly element of Sallie Mae, composed obstacles to repayment by giving bad advice, processing costs incorrectly, and you may neglecting to act when consumers reported. Courtesy shortcuts and you may deception, the firm in addition to illegally duped of many battling individuals from their liberties to reduce repayments, and that triggered them to pay a great deal more than simply that they had to because of their loans. Read More
