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Violation Tracker Individual Record

Company: Navient
Current Parent Company: Navient
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $1,850,000,000
Year: 2022
Date: January 13, 2022
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Mega-Scandal: Student Loan and For-Profit College Abuses
Violation Description: Navient agreed to cancel over $1.7 billion in debt, pay $95 million in restitution and pay $147.5 million in costs in a settlement with 39 attorneys general of allegations of widespread unfair and deceptive practices and abuses in originating predatory student loans.
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Delaware
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.