Student Loan Collector Sued After Cheating Millions of Students

WASHINGTON (AP) — Federal regulators have sued Navient, accusing the biggest U.S. student loan company of making it harder for borrowers to repay loans by giving them bad information, processing payments incorrectly and failing to act on complaints.

The Consumer Financial Protection Bureau filed the federal lawsuit against Navient Corp. and two subsidiaries on Wednesday, seeking restitution for affected borrowers and money penalties. The agency said the company also cheated struggling borrowers out of their rights to lower their payments “through shortcuts and deception.”

Navient disputed the allegations, calling the suit a politically motivated “midnight action” two days before the Trump administration takes office.

“We will vigorously defend against these false allegations,” the company said in a statement.

Read more HERE!

More from Lizzy Buczak
Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From Chicago’s B96 - 96.3 FM

Get The App

Listen Live