A proposed order has been filed by the U.S. Consumer Financial Protection Bureau (“CFPB”) against Navient Corporation NAVI, according to which the student loan servicer will be permanently banned from servicing federal direct loans and directly servicing or acquiring most loans under the Federal Family Education Loan Program.

The U.S. Consumer Finance Protection Bureau has filed a proposed order to permanently ban Navient from directly servicing federal student loans, which the agency says will end years of abusive lending practices.

Navient, once one of the largest student loan servicers partnered with the U.S. government, has reached a $120 million settlement with the the Consumer Financial Protection Bureau and has permanently banned it from federal student loan servicing, the company confirmed.