Loading...
Market
Will Navient secure court approval for the CFPB settlement by December 31, 2024?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Official court documents or announcements from the CFPB
Story
CFPB Bans Navient ($NAVI) from Federal Student Loan Servicing in Landmark Settlement, Orders $120 Million Payment
Sep 12, 2024, 01:11 PM
The Consumer Financial Protection Bureau (CFPB) has taken decisive action against Navient ($NAVI), a prominent student loan servicer. The CFPB is seeking court approval for a final judgment that would permanently ban Navient from servicing direct loans and acquiring or servicing Federal Family Education Loan Program (FFELP) loans. Additionally, Navient is ordered to pay $120 million in refunds and penalties due to wide-ranging student lending failures. This settlement aims to address years of failures and lawbreaking by Navient in its federal student loan servicing practices. The settlement is considered a landmark in addressing student loan servicing issues.
View original story
Similar markets
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Great Lakes Educational Loan Services • 25%
Nelnet • 25%
FedLoan Servicing • 25%
Other • 25%
None • 25%
Up to $50 million • 25%
$50 million to $100 million • 25%
Over $100 million • 25%
Yes • 50%
No • 50%
Relief Plan Overturned • 25%
Relief Plan Upheld • 25%
New Relief Plan Introduced • 25%
No Major Decision • 25%
CFPB wins the case • 25%
CFPB loses the case • 25%
Case is settled out of court • 25%
Case is dismissed • 25%
0-25% • 25%
26-50% • 25%
51-75% • 25%
76-100% • 25%
