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 …
A judge on Thursday ruled that a lawsuit over questionable loan practices filed by the federal government against Quicken loans can proceed. The federal government claims, among other things, that Quicken Loans Inc. intentionally altered information or overlooked problems with loan applications in order to issue hundreds of thousands of government-backed mortgages. If loans met a …
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 …
Kentuckians who bought Volkswagen’s “clean diesel” cars will receive restitution, and the state will get millions to offset pollution. The details of the settlement were announced Tuesday. Dozens of class action lawsuits were filed last year after the German car company admitted it had rigged many of its vehicles to cheat emissions tests.
Regulators don’t like the unregulated, and in what some would term, “the CFPB inviting more into its boat to be bashed with oars,” it announced it is accepting complaints from consumers encountering problems with loans from online marketplace lenders. “The Bureau is also releasing a consumer bulletin that provides an overview of marketplace lending and outlines tips for consumers who are …