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Stock impact report

Student Loan Borrowers May Lose Vital Protections If CFPB Is Abolished [Forbes]

Navient Corporation (NAVI) 
Last navient corporation earnings: 4/21 04:14 pm Check Earnings Report
US:NASDAQ Investor Relations: navient.com/about/investors
Company Research Source: Forbes
The agency's future is in doubt amid political and legal threats, raising the question: What happens to student loan borrowers if the CFPB is eliminated or severely weakened? This isn't a hypothetical. President Donald Trump's administration had already taken steps to dismantle the agency, including closing the CFPB's headquarters, ordering employees to cease most work, and terminating over 100 probationary and term employees. While a district court judge had issued a temporary injunction enjoining the agency's Acting Director Russell Vought from carrying out what she characterized as a plan to “disable and dismantle” the agency, an appeals court granted a temporary stay on the judges order on April 11. The Court of Appeals expedited the Trump administration's appeal and it will be argued on May 16. In short, the fate of the agency is in limbo and borrowers could lose a critical protector. The CFPB helps oversee student loan servicers and lenders, curbing predatory practices and ens Show less Read more
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