June 20, 2024
A California federal judge has ordered loan servicer Vervent Inc. to pay $12 million to ex-students of bankrupt for-profit college ITT Education Services Inc. for Vervent's role in an alleged predatory lending scheme for ITT's benefit, finding it was appropriate to triple a $4 million jury award.
April 21, 2023
A putative class action against loan servicer Vervent Inc. over an alleged predatory lending scheme on behalf of ITT Education Services Inc. will go to trial, a California federal judge has ruled, saying evidence recently produced by the servicer is insufficient to prove it complied with the law.
September 25, 2020
A California federal judge decided Thursday that student loan borrowers must arbitrate claims that Deutsche Bank helped carry out a predatory lending scheme on behalf of ITT Tech, but denied arbitration to the loan servicer Vervent.
April 13, 2020
Debt servicer Vervent Inc. and five other defendants, including Deutsche Bank Trust Co. Americas, face a proposed class action lawsuit in California federal court filed by student loan borrowers accusing them of concocting an elaborate and "predatory" loan structure entangled in the failure of one of the nation's largest for-profit technical schools.