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Contrary to popular belief, education loan servicer Navient has been sued just as before for predatory financing methods that Pennsylvania Attorney General Josh Shapiro calls “unfair and deceptive.” Navient claims they’re perhaps maybe not doing such a thing wrong, but here’s what you need to understand, anyhow.
This is actually the 4th lawsuit filed against Navient this season. The buyer Financial Protection Bureau (CFPB) sued them previously this year for shady company techniques, to which Navient replied , “A servicer’s role is always to gather re re payments owed by borrowers. There is no expectation that the servicer shall‘act when you look at the interest of this customer.’”
In this latest lawsuit, Navient reacted which they work in the confines of this Department of Education’s guidelines. The thing is, under Secretary of Education Betsy DeVos, the Department of Education has eradicated defenses for borrowers .Details