Op risk data: Morgan Stanley, Capital One’s data breach double trouble
Also: Citi shells out $45m for misleading stock trading info; coding clangers cost Credit Suisse $9m. Data by ORX News
January’s largest operational risk loss is the $1.85 billion settlement that US student loan company Navient reached with 39 US states to resolve allegations of deceptive student loan servicing practices. The company was accused of originating costly long-term forbearance plans that caused students to pay more than they should have.
Interest that accrued because of Navient’s forbearance practices
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