Skip to comments.Nationís top student loan official resigns [in protest of Trump]
Posted on 08/27/2018 10:37:21 AM PDT by Red Badger
NEW YORK (AP) The governments top official overseeing the $1.5 trillion student loan market resigned in protest on Monday, citing what he says is the White Houses open hostility toward protecting the nations millions of student loan borrowers.
Seth Frotman will be stepping down as student loan ombudsman at the end of the week, according to his resignation letter, which was obtained by The Associated Press. He held that position since 2016, but has been with Consumer Financial Protection Bureau since its inception in 2011.
Frotman is the latest high-level departure from the CFPB since Mick Mulvaney, President Donald Trumps budget director, took over in late November. But Frotmans departure is especially noteworthy, since his office is one of the few parts of the U.S. government that was tasked with handling student loan issues.
The office was at the center of the lawsuits against for-profit colleges like Corinthian Colleges and is currently heading up a lawsuit between the CFPB and Navient, one of the nations largest student lenders. The Navient lawsuit has been mired in bureaucratic red tape as the Department of Education, headed by Betsy DeVos, has been unwilling to help the CFPB with their lawsuit. Since its creation, the student loan office has returned $750 million to harmed borrowers.
(Excerpt) Read more at apnews.com ...
Cue Boothe Powers picture.
In my most humble opinion.
Seems like every year was a Jubilee Year for this guy...
The Jews had a Jubilee Year every 50th in which all loans were forgiven...
More winning than the Harlem Globetrotters.
CFPB is unconstitutional per the courts. Time for all to go.
” open hostility toward protecting the nations millions of student loan borrowers. “
From what? Their inability to do simple math?
Does "protect" translate to absolve?
A vital post, I'm sure.
protecting the buyers=forgiving the debt
Was he about to be indited?
Quick do an Audit
Hilliary could have won in a landslide if she had campaigned on ‘forgiving’ student loans..................
Winning! I’m still not tired of winning!!!!!!
So Trump is protecting the taxpayers over the loan borrowers?
HIP HIP HOORAY!
The fed should NEVER loan money, to anyone. They have crooked bookkeepers, who are on the take.
Went thru the process for the first time for my son. The interest rates are NUTS!
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