A major student-loan lender is putting millions of borrowers 'at serious risk of financial harm' by filing a lawsuit to end the payment pause, Biden's Education Department says

• Student-loan lender SoFi asked a federal court to end the student-loan payment pause.
• It cited direct harm to its refinancing business in the form of revenue loss.
• The Education Department said the pause is legal, and the lawsuit puts borrowers "at serious risk of financial harm."

President Joe Biden's Education Department has put a major student-loan lender on blast.

On Friday, SoFi Bank and SoFi Lending Corp. — a student-loan refinancing company — sued the Education Department and asked the District Court for the District of Columbia to end Biden's latest extension of the student-loan payment pause.