Navient Banned from Student Loan Market After Settlement

Navient Banned from Federal Student Loan Market
Navient, once a major player in the student loan servicing industry, has been barred from handling federal student loans following a $120 million settlement with the U.S. Consumer Financial Protection Bureau (CFPB). The CFPB accused Navient of making numerous mistakes in payment processing and misleading borrowers about their repayment options.