Leading Federal Student Loan Servicer Asks Court To Dismiss Case with CFPB

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Leading Federal Student Loan Servicer Asks Court To Dismiss Case with CFPB

Mar, 30th 2017

The nation’s largest servicer of student loans has asked a court to dismiss a federal regulator’s charges that the company systematically failed and misled thousands of borrowers about payment information.

In a March 24 dismissal motion, Navient (NAVI) argued that the lawsuit filed against the firm by the Consumer Financial Protection Bureau improperly "invents new rules from whole cloth and claims that Navient failed to comply with them in the past."

The CFPB declined to comment Tuesday.

The regulator's lawsuit accuses Navient of throwing up frustrating financial hurdles for thousands of student loan borrowers by providing incorrect payment information, processing payments...

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