CFPB makes major changes to student loan office — advocates worry it will be ‘open season’ on borrowers [MarketWatch]
Navient Corporation (NAVI)
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Source: MarketWatch
CFPB makes major changes to student loan office — advocates worry it will be ‘open season’ on borrowers A student loan watchdog may be coming off the beat. The Consumer Financial Protection Bureau—the government agency set up in 2011 to protect consumers—is moving the office of Students & Young Consumers and folding it into the CFPB’s Office of Financial Education, according to a memo sent to CFPB staff Wednesday by acting director Mick Mulvaney. In the memo, Mulvaney said the changes were part of his efforts “to make the bureau more efficient, effective and accountable.” But consumer advocates say the move essentially waters down the power of an office that has historically monitored the student loan industry for bad actors and practices, just as outstanding student debt hit $1.5 trillion and continues to climb. The reorganization also appears to be the latest front in a battle between state lawmakers, consumer advocates and federal officials over how best to monitor the student loan
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- Navient Co. (NASDAQ: NAVI) had its price target lowered by analysts at JPMorgan Chase & Co. from $17.00 to $16.00. They now have a "neutral" rating on the stock.MarketBeat
- Navient Co. (NASDAQ: NAVI) had its price target lowered by analysts at Barclays PLC from $13.00 to $11.00. They now have an "underweight" rating on the stock.MarketBeat
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- Boys & Girls Clubs of Delaware, Navient to host May 4 college planning conferenceGlobeNewswire
- Navient Co. (NASDAQ: NAVI) had its price target lowered by analysts at Keefe, Bruyette & Woods from $19.00 to $17.00. They now have a "market perform" rating on the stock.MarketBeat
NAVI
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- 4/24/24 - Form 10-Q
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