Student loan giant Navient on suit: 'no expectation' it will act in 'interest of the consumer'
Posted: Tue Apr 04, 2017 6:29 am
Fox News - 4/3/2017 - Federal regulators in January 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. Navient reportedly said in response the Consumer Financial Protection Bureau suit that “there is no expectation that the servicer will act in the interest of the consumer.” The CFPB filed the federal lawsuit against Navient Corp. and two subsidiaries 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." Read more @ http://www.foxnews.com/us/2017/04/03/st ... sumer.html