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WASHINGTON, DC - MARCH 12: Richard Cordray, nominee for director of the Consumer Financial Protection Bureau, testifies at a confirmation hearing before the Senate Committee on Banking, Housing and Urban Affairs on March 12, 2013 in Washington, DC. Cordray testified that he doesn't see a "one-size-fits-all solution" to financial challenges and stressed the importance of transparency in the bureau's work. (Photo by T.J. Kirkpatrick/Getty Images)

[DIGEST: Fortune, Buzzfeed, Business Insider, New York Times]

The U.S. Consumer Financial Protection Bureau brought federal suit this month against Navient, the United States’ largest student loan servicer. The CFPB accused the company of “systematically and illegally failing borrowers at every stage of repayment.” The lawsuit seeks restitution for those affected, as well as money penalties.

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