SoFi Bank has sued the Biden administration to end the student loan payment pause. Ana Kasparian discusses on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET.

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“Anthony Noto, the CEO of SoFi SOFI, -0.18%, said the company decided to sue over the pause on federal student-loan payments in part to protect shareholder value.

In the weeks since filing the lawsuit earlier this month, SoFi’s leadership hasn’t said much about the decision-making process surrounding the case, which, if SoFi wins, would push more than 40 million federal student-loan borrowers back into repayment. Some customers have said the suit has them considering moving their money from the bank, and experts in corporate reputation warn it could tarnish the company’s image as a consumer-focused fintech company.

During an exchange with an analyst at a conference hosted by Bank of America BAC, -3.32% Tuesday, Noto provided some insight into how the company weighed those concerns when considering whether to file the lawsuit.”


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