NAVI Navient Corp

Navient Resolves Legal Matters with Consumer Financial Protection Bureau

Navient Resolves Legal Matters with Consumer Financial Protection Bureau

HERNDON, Va., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) today released the following statement after reaching an agreement with the Consumer Financial Protection Bureau to resolve previously disclosed litigation and investigations:

This agreement puts these decade-old issues behind us. While we do not agree with the CFPB’s allegations, this resolution is consistent with our go-forward activities and is an important positive milestone in our transformation of the company.

Navient is no longer a servicer or purchaser of federal student loans. In 2021, with the approval of the Department of Education, Navient transferred its contract to service government student loans to a third party, and earlier this year, Navient reached an agreement to outsource student loan servicing of its legacy FFELP student loan portfolios, which began on July 1, 2024. Navient will oversee its third-party servicing provider to meet all operational terms of the agreement.

About Navient

Navient (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Our customer-focused, data-driven services deliver exceptional results for clients in education, healthcare, and government. Learn more at .

Contact:

Media: Paul Hartwick, 302-283-4026,

Investors: Jen Earyes, 703-984-6801,



EN
12/09/2024

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Navient to announce third quarter 2024 results, host earnings webcast Oct. 30 HERNDON, Va., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) will host an audio webcast to review its 2024 third quarter financial results on Wednesday, Oct. 30, 2024, at 8:00 a.m. Eastern Time. The results are scheduled to be released the same day by 7:00 a.m. on . In addition to being available on the company’s investor website, the results will be filed with the SEC on a Form 8-K available at . The webcast and presentation slides also will be available on . Analysts and investors who wish to ask qu...

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Navient Corporation and Student Loan ABS: CFPB settlement is credit ne...

The settlement is not impactful because Navient reserved $105 million in advance of the settlement and exited its student loan servicing contract with the Department of Education in 2021.

09/16/24 September 16, 2024 1 EN
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Navient Resolves Legal Matters with Consumer Financial Protection Bure...

Navient Resolves Legal Matters with Consumer Financial Protection Bureau HERNDON, Va., Sept. 12, 2024 (GLOBE NEWSWIRE) -- Navient (Nasdaq: NAVI) today released the following statement after reaching an agreement with the Consumer Financial Protection Bureau to resolve previously disclosed litigation and investigations: This agreement puts these decade-old issues behind us. While we do not agree with the CFPB’s allegations, this resolution is consistent with our go-forward activities and is an important positive milestone in our transformation of the company. Navient is no longer a servi...

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