Borrowers who had a mortgage serviced by Wells Fargo between May 6, 2005 and July 1, 2010 will soon receive their share of a $50 million settlement stemming from allegations that Wells Fargo overcharged borrowers for Broker Price Opinions during that period. The settlement, which was initially announced in October, stems from a class action lawsuit against Wells Fargo that claimed that the bank …
A student loan giant has agreed to suspend collection activities on the debt of certain borrowers who filed for bankruptcy, providing at least temporary relief for potentially thousands of people and signaling that there may be a viable path to discharging some student debts in bankruptcy. As part of an ongoing class-action lawsuit filed against student loan servicer Navient, the company has …
Navient, a company that derived from Sallie Mae, has more than 12 million customers and services more than $300 billion of government and private student loans. In January, a lawsuit was filed against the student loan lender where the Consumer Financial Protection Bureau (CFPB) alleged that Navient “systematically and illegally failed borrowers at every stage of …
Last week, the Trump administration issued its first policy on student loans. As a result, loan guarantee agencies that collect on defaulted debt can charge borrowers …
On Wednesday, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Navient, the largest student loan servicer in the country. If you have a student loan, there is a good chance that it may be serviced by Navient. Navient, which spun off from Sallie Mae, has more than 12 million customers and services more than $300 billion of government and private student loans. Here is what you need to know and the action that you can take …
On the last day of the Obama administration, the Consumer Financial Protection Bureau wanted to give millions of Americans with student loan debt a little gift: filing a lawsuit against Navient (formerly known as Sallie Mae) for grimy, misleading practices. BuzzFeed reports : Among the most serious allegations is the claim that Navient systematically pushed struggling borrowers away from …
JPMorgan Chase paid female employees less than their male counterparts, according to a Labor Department lawsuit filed Wednesday that seeks to halt new federal contracts with the massive bank until it compensates the women. Since at least May 2012, JPMorgan paid at least 93 women employed as lead application developers, project managers and technology directors in …
JPMorgan Chase agreed to a settlement with the U.S. government over allegations that it discriminated against “thousands” of black, Hispanic mortgage borrowers from 2006 through 2009. The bank’s independent brokers charged minority borrowers higher mortgage interest rates and fees during that period, compared to “similarly situated white borrowers,” according to a government lawsuit filed Wednesday in a New York federal court. JPMorgan is expected to settle the lawsuit for $55 million without admitting any liability. “We’ve agreed to …
More than 250,000 homeowners who had loans serviced by Wells between 2005 and 2010 and paid for this type of appraisal could receive at least $120 each. Under its mortgage servicing agreement, Wells can require borrowers who default on their loan to provide an informal estimate of the home’s value, usually from a real estate broker. Starting in 2001, Wells Fargo began ordering these “broker …
A successful class action lawsuit against two payday loan companies in Ontario has concluded. Now, the challenge is to find the recipients of the $10 million dollar settlement. There are potentially 100,000 claimants across the province, including in Sudbury.