Government Considering Legal Action Against Former Sallie Mae Loan Servicer

<A href=”http://www.buzzfeed.com/mollyhensleyclancy/government-considering-legal-action-against-former-sallie-ma”>Molly Hensley-Clanc</a>: <blockquote><i>The Consumer Financial Protection Bureau is considering taking legal action against Navient Corp., the country’s largest student loan servicer and a former division of Sallie Mae, after an investigation into the company’s disclosures and late fees. The company disclosed the threat of legal action in a filing today.

Any legal action against Navient could be a significant blow to the company, which was spun off from the student loan giant Sallie Mae partially in an attempt to repair its battered image as a loan servicer. Last year, the two companies were ordered to pay a $60 million settlement over allegations that they had denied benefits to military service members.</i></blockquote>