[Music] in a settlement Navien is permanently banned from servicing federal student loans and must pay 120 million in penalties and borrower relief the Consumer Financial Protection Bureau accused navian of steering struggling borrowers into costly forbearance options instead of income driven repayment plans mishandling payment processing and harming the credit of disabled borrowers Navien allegedly enrolled 1.5 million borrowers in multiple consecutive forbearances resulting in $4 billion in additional interest charges in a statement naviant says it does not agree with the cfpb's allegations however the company States this agreement puts these decade old issues behind us under the settlement naviant is banned from servicing federal student loans naviant will pay a $20 million penalty and provide $100 million in relief to effective borrowers the cfpb says it will mail checks to eligible Borrowers and affected consumers will not need to do anything to obtain redress for straight Aro news I'm Lauren Taylor for more stories just like this one download the straight Aro News app [Music]