Judge allows lawsuit against student loan servicer Navient
HARRISBURG, Pa. (AP) — A federal judge in Pennsylvania has ruled that a lawsuit alleging widespread abuse by student loan servicer Navient Corp. can go forward.
Navient is one of the nation's largest student loan servicers. It had filed a motion to dismiss the majority of the counts in the lawsuit. It had claimed federal laws prohibit states from filing claims when a federal consumer protection lawsuit is pending regarding the same conduct.
AP Exclusive: Gov’t questions unfair student loan practices
NEW YORK (AP) — One of the nation's largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into higher-cost repayment plans.
That's the finding of a Department of Education audit of practices at Navient Corp., the nation's third-largest student loan servicing company.
Mississippi sues student loan processing company
JACKSON, Miss. (AP) — Mississippi Attorney General Jim Hood is suing the nation's largest student loan processor, saying Delaware-based Navient Corp. has pushed "risky and expensive" loans.
Hood announced the lawsuit Tuesday, a week after filing it in Hinds County Chancery Court.
The California attorney general filed a similar lawsuit in late June, and Navient president and CEO Jack Remondi said the allegations in the California suit were unfounded.
SACRAMENTO, Calif. (AP) — California's attorney general announced Thursday he is suing the nation's largest student loan processor, alleging it is harming consumers by failing to properly service the debts.
Attorney General Xavier Becerra said the state will sue Navient Corp. this week, contending the Delaware-based company financially harmed thousands of Californians.
NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday:
Conn's Inc., down $5.12 to $30.73
The retailer reported disappointing revenue and forecast weak sales in the current quarter.
Deere & Co., up $2.77 to $151.34
Shares in the farm-equipment maker recovered losses as investors grew less fearful about a trade war between the U.S. and China.
Pennsylvania attorney general sues student loan company
HARRISBURG, Pa. (AP) — Pennsylvania's attorney general accused the nation's largest student loan company of engaging in abusive practices in a lawsuit filed Thursday that alleged it has improperly added billions of dollars in costs for borrowers.
The complaint in federal court in Harrisburg, Pennsylvania, said Navient Corp. and subsidiary Navient Solutions LLC sold "risky and expensive" subprime loans and damaged borrowers and co-signers by failing to perform core loan servicing duties.
The Pennsylvania Attorney General’s office filed suit Thursday against Navient, the largest U.S. student-loan servicer, alleging widespread abuses and deceptive acts involving its administration of student loans.
The suit against Navient Corp. and its subsidiary Navient Solutions, LLC, formerly a part of Sallie Mae, could affect hundreds of thousands of Pennsylvanians, Attorney General Josh Shapiro said, noting the office is seeking restitution for all borrowers affected by the practices.
AUGUSTA, Maine (AP) — The nation's largest servicer of federal student loans has lobbied against states' efforts to license student loan servicers in Maine and elsewhere this year as it seeks to become the nation's single servicer of student loans under a plan backed by U.S. Education Secretary Betsy DeVos.
CHICAGO (AP) — Attorney General Lisa Madigan is pushing legislation aimed at protecting Illinois students who take out college loans.
The plan would establish a "student loan bill of rights" outlining information companies have to provide, including on all repayment options. It'd also require student loan servicers to get a state license and create a student loan ombudsman in the attorney general's office.
State attorney general alleges fraud at student loan company
CHICAGO (AP) — Illinois Attorney General Lisa Madigan's office is suing the nation's largest student loan company, alleging unfair and deceptive practices with lending and debt collection.
The lawsuit filed Wednesday in Cook County seeks restitution and penalties. It names Navient Corporation and several company subsidiaries, as well as Sallie Mae Bank. Navient formerly was part of Sallie Mae.
Consumer agency sues Navient over student loan repayments
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.
Charities to get leftover funds in student loan settlement
DOVER, Del. (AP) — A federal judge has agreed that $1.6 million left over from a government settlement with student lending giant Navient Corp. should be distributed to charities.
The Justice Department announced last year that nearly 78,000 members of the military would be reimbursed under a $60 million consent decree with Navient, formerly part of Sallie Mae, because they had been charged excess interest on student loans.
- Globe NewswireNavient and Canyon Partners Reach Cooperation Agreement; Navient Will Add Two Experienced Directors to its Board of DirectorsMay 2, 2019
- Globe NewswireUpdate in Lawsuit for Investors in NASDAQ: NAVI shares against Navient Corp announced by Shareholders FoundationApril 9, 2019
- Business WireNAVIENT INVESTIGATION UPDATE by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Navient Corporation – NAVIMarch 23, 2019
- BusinessWireNAVIENT INVESTIGATION UPDATE by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Navient Corporation – NAVIFebruary 2, 2019
- BusinessWireNAVIENT INVESTIGATION UPDATE by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Navient Corporation – NAVIJanuary 5, 2019