In July 2017, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Navient, one of the largest student loan servicers in the country. The CFPB alleged that Navient had engaged in widespread illegal practices, including:
• Failing to properly apply payments
• Steering borrowers into costly repayment options
• Illegally harassing borrowers with delinquent loans
• Misreporting information to credit reporting agencies
The CFPB's lawsuit was filed against Navient and its subsidiaries, Navient Solutions and Pioneer Credit Recovery. Together, these companies service over 12 million federal and private student loans.