Work for state attorneys general in litigation against Navient Corp.
Ilan Guedj was retained as the expert for three state attorneys general in litigation against Navient Corp. Numerous state attorneys general alleged that Navient, a student loan servicer, steered borrowers to forbearances (postponing payments temporarily but capitalizing interest owed) without fully explaining the benefits of income-driven repayment plans, misallocated borrower payments, and demanded borrowers make payments before they were due. Navient ultimately agreed to pay 32 state attorneys general $142.5 million and make major changes to its business practices to settle these claims. Bates White assisted the state AGs in their settlement discussions. Navient also agreed to cancel $1.7 billion in debt in 39 states related to predatory loan origination claims, on which Bates White did not work.