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Jan 20, 2017 · The Consumer Financial Protection Bureau (CFPB) and two state attorney generals filed lawsuits against Navient, the country’s largest servicer of student loans, for illegal practices Wednesday ...

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Navient was established as Sallie Mae in 1973 as a Government-Sponsored Enterprise (GSE) called Student Loan Marketing Association (nicknamed In June 2016, stockholders filed a class action lawsuit against Navient. The plaintiffs included Chicago police officers and retired city employees in...

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Pennsylvania became the latest state to file a lawsuit against the nation’s largest student loan servicing company Thursday. Navient Corporation had previously tried to downplay a series of lawsuits filed by states and the federal government earlier this year, but Pennsylvania’s entry into the fray makes clear Navient’s legal troubles are unlikely to go away anytime soon.

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In 2014 Sallie Mae announced they would be splitting into two separate entities, one to manage their private student loan portfolio (Sallie Mae), and a new company Navient would service all their federally backed student loans, as well as perform "asset recovery" for those loans.

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