Navient, formerly one of the largest U.S. student loan servicers, has been banned from servicing federal student loans and ordered to pay $120 million to settle allegations of abusive practices. The Consumer Financial Protection Bureau (CFPB) accused Navient of steering borrowers into costly repayment plans, mishandling payments, and damaging the credit of disabled borrowers. The settlement includes $100 million in restitution for affected borrowers and a $20 million civil penalty. This resolution concludes a lawsuit filed in 2017 and permanently removes Navient from the federal student loan market. CFPB Director Rohit Chopra emphasized that this action ends years of exploitation of students and taxpayers by Navient.