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Nation’s top student loan official resigns [in protest of Trump]
AP ^
| 08/27/2018
| Staff
Posted on 08/27/2018 10:37:21 AM PDT by Red Badger
NEW YORK (AP) — The government’s top official overseeing the $1.5 trillion student loan market resigned in protest on Monday, citing what he says is the White House’s open hostility toward protecting the nation’s 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 Trump’s budget director, took over in late November. But Frotman’s 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 nation’s 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 ...
TOPICS: Business/Economy; Culture/Society; Government; Politics/Elections
KEYWORDS: cfpb; cfpbstudentloans; debt; director; frotman; mulvaney; obamacfpb; ombudsman; protest; resign; sethfrotman; studentloan; studentloanombudsman; studentloans
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To: Red Badger
2
posted on
08/27/2018 10:37:54 AM PDT
by
Hildy
(Don't get bitter, get better.)
To: Red Badger
‘Bye.
Cue Boothe Powers picture.
3
posted on
08/27/2018 10:38:01 AM PDT
by
Pearls Before Swine
("It's always a party when you're eating the seed corn.")
To: Red Badger
There's a hammer coming down on every one that hooked these kids into taking out loans the loan officers KNEW the kid shouldn't get and had NO chance to do anything in life if indeed, the kid actually graduates with a basket weaving degree.
In my most humble opinion.
4
posted on
08/27/2018 10:42:22 AM PDT
by
knarf
(I say things that are true, I have no proof, but they're true.)
To: Red Badger
5
posted on
08/27/2018 10:43:17 AM PDT
by
elpadre
(AfganistaMr Obama said theoal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
To: Red Badger
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...
To: Red Badger
More winning than the Harlem Globetrotters.
7
posted on
08/27/2018 10:45:04 AM PDT
by
Alberta's Child
("The Russians escaped while we weren't watching them ... like Russians will.")
To: Tennessee Nana
CFPB is unconstitutional per the courts. Time for all to go.
8
posted on
08/27/2018 10:45:30 AM PDT
by
rstrahan
To: Red Badger
” open hostility toward protecting the nation’s millions of student loan borrowers. “
From what? Their inability to do simple math?
9
posted on
08/27/2018 10:46:31 AM PDT
by
VanDeKoik
To: Red Badger
I would be very suspicious that Frotman is a front man for fraud in the Student Loan Program.
To: Red Badger
citing what he says is the White House’s open hostility toward protecting the nation’s millions of student loan borrowers. Does "protect" translate to absolve?
11
posted on
08/27/2018 10:47:55 AM PDT
by
1Old Pro
To: Red Badger
loan ombudsmanA vital post, I'm sure.
To: Red Badger
protecting the buyers=forgiving the debt
13
posted on
08/27/2018 10:49:25 AM PDT
by
morphing libertarian
(Use Comey's Report; Indict Hillary now. --- Proud Smelly Walmart Deplorable)
To: Red Badger
Was he about to be indited?
14
posted on
08/27/2018 10:49:27 AM PDT
by
Leep
To: Red Badger
To: 1Old Pro
Hilliary could have won in a landslide if she had campaigned on ‘forgiving’ student loans..................
16
posted on
08/27/2018 10:50:09 AM PDT
by
Red Badger
(July 2018 - the month the world learns the TRUTH......Q Anon.......Timelines change. Aug 16)
To: Red Badger
Winning! I’m still not tired of winning!!!!!!
17
posted on
08/27/2018 10:51:22 AM PDT
by
RooRoobird20
("Democrats haven't been this angry since Republicans freed the slaves.")
To: Red Badger
So Trump is protecting the taxpayers over the loan borrowers?
HIP HIP HOORAY!
18
posted on
08/27/2018 10:51:54 AM PDT
by
FreedomPoster
(Islam delenda est)
To: Red Badger
The fed should NEVER loan money, to anyone. They have crooked bookkeepers, who are on the take.
19
posted on
08/27/2018 10:52:00 AM PDT
by
gathersnomoss
(Regressive Swamp Dwellers)
To: Red Badger
Went thru the process for the first time for my son. The interest rates are NUTS!
20
posted on
08/27/2018 10:54:02 AM PDT
by
bantam
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