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Two years of obstruction and tactical maneuvering weren't enough to keep a large coalition of shareholders, led by Rhode Island General Treasurer Seth Magaziner, from taking Navient Corp., the nation's largest student loan servicer, to task over its role in the growing national student debt crisis today at the company's annual meeting.
This is the first time shareholders have had the opportunity to vote on Treasurer Magaziner's proposal, which would require the company to provide shareholders with an analysis of risks and potential governance failures related to the student loan crisis.