CFPB sues major student loan servicer for ‘cheating’ borrowers

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The Consumer Financial Protection Bureau announced Wednesday that it had sued Navient, the largest student loan servicer in the U.S., for cheating borrowers for years.

Along with the state attorneys general in Illinois and Washington, the agency said it would seek consumer relief for borrowers who the company steered into inappropriate repayment plans that cost them money and harmed their ability to repay their loans.

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