Navient reaches $120 million settlement with CFPB for misleading student loan borrowers

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Navient reaches $120 million settlement with CFPB for misleading student loan borrowers

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Navient has reached a $120 million settlement with the Consumer Financial Protection Bureau over its practices with student loan borrowers, the company tells CNBC.

The CFPB sued Navient in 2017 for misleading borrowers and providing them with bad information, causing many to pay more than they needed to.

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