AFL-CIO Flags Possible Insider Trading In Navient For SEC

By Jon Hill (October 10, 2017, 6:53 PM EDT) -- The AFL-CIO on Tuesday urged the U.S. Securities and Exchange Commission to look into possible insider trading in shares of Navient Corp., pointing to three large blocks of the student loan servicer's stock that were purchased ahead of news that the U.S. Department of Education had ended information-sharing agreements with the Consumer Financial Protection Bureau.

The labor union organization told the SEC in a letter that hundreds of thousands of Navient shares were purchased in late trading on Aug. 31, the day the Department of Education sent a letter to the CFPB informing the agency of its decision to end the...

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