Navient is exiting the federal student loan business as a regulator prepares to fine it $120 million. The company, formerly known as Sallie Mae, was sued in 2017 by the Consumer Financial Protection Bureau (CFPB) over its lending practices. Now, the regulator has filed an...
Stocks of companies related to student loans have experienced a drop in value ahead of the restart of student loan payments after a three-year pause and amid the Biden administration’s efforts to cancel some of that debt. The four stocks most closely linked to student...
Earnest, a FinTech startup with hopes of creating a modern financial institution, is selling to student-loan giant Navient for $155 million in cash. According to TechCrunch, the news is a disappointment for Earnest’s investors, who sunk roughly $320 million in cash and debt into the company....
Things are getting tougher for the Consumer Financial Protection Bureau (CFPB) under the new political administration. More banks are now willing to challenge CFPB enforcement actions, said The Wall Street Journal. The CFPB has reportedly announced some 21 enforcement actions in 2017, one-third of which have...
January 20, 2017
London's bridge (to the EU) is falling down, but perhaps not completely. And lest you think Brexit is the biggest Fizzle of them all, think about the hot water Navient must navigate, having fleeced student loan borrowers. But if you're commuting to work, at least with Uber, you'll have some sizzle left in the wallet for coffee.
March 03, 2025
With the CFPB’s future in limbo, so too are hundreds of millions in consumer settlements. For example, Reuters reported Monday (March 3), there is a $100 million pot of funds intended for borrowers that the Consumer Financial Protection Bureau (CFPB) says were harmed by student loan servicer Navient. And with the Trump administration attempting to wind down the agency’s work, […]
September 12, 2024
Navient is exiting the federal student loan business as a regulator prepares to fine it $120 million. The company, formerly known as Sallie Mae, was sued in 2017 by the...
October 05, 2023
Stocks of companies related to student loans have experienced a drop in value ahead of the restart of student loan payments after a three-year pause and amid the Biden administration’s...
October 06, 2017
Earnest, a FinTech startup with hopes of creating a modern financial institution, is selling to student-loan giant Navient for $155 million in cash. According to TechCrunch, the news is a disappointment...
