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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

Getting out before the forensic auditors arrive.


21 posted on 08/27/2018 10:56:19 AM PDT by PapaBear3625 ("It rubs the rainbow on it's skin or it gets the diversity again!")
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To: Red Badger

Self draining swamp.


22 posted on 08/27/2018 10:56:27 AM PDT by Bubba_Leroy (The Obamanation has ended!)
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To: Hildy

Best election ever!


23 posted on 08/27/2018 10:57:12 AM PDT by jospehm20
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To: Red Badger

So sad. McCain went and overshadowed his drama queen parade.


24 posted on 08/27/2018 10:59:50 AM PDT by Lurkina.n.Learnin (Wisdom and education are different things. Don't confuse them.)
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To: Hildy

F*^king A!!!

Just another liberal bureaucrat that thought he was someone and had no problem about the bubble that is going to burst with the ridiculous student loan problem. All it did was make his academia buddies richer.


25 posted on 08/27/2018 11:00:40 AM PDT by qaz123
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To: Red Badger

So...Seth Frotman...was hired at the DOJ..or the FBI now.


26 posted on 08/27/2018 11:02:29 AM PDT by Osage Orange (Whiskey Tango Foxtrot)
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To: Tennessee Nana

“The Jews had a Jubilee Year every 50th in which all loans were forgiven...”

Must have made it pretty hard to get a loan in year 49.


27 posted on 08/27/2018 11:06:43 AM PDT by Flash Bazbeaux
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To: Red Badger

I think the reaction is the same as the construction boss when asking Arthur Dent how much damage the bulldozer will experience when it encounters said Arthur Dent.

If this is too geeky, think Rachel Corrie.


28 posted on 08/27/2018 11:13:06 AM PDT by freedumb2003 (As always IMHO)
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To: Red Badger

more WINNING!
yippee!
almost anyone who was
with the NCPC since its beginning under Obammy in 2011...
is immediately SUSPECT
on that basis, alone

the only people who Obammy put into that unconstitutional agency were his fellow=traveller commies and IslamoNazis
imho the agency was created for that purpose


29 posted on 08/27/2018 11:13:41 AM PDT by faithhopecharity ("Politicians aren't born, twe dhey're excreted." -Marcus Tillius Cicero (3 BCE))
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To: freedumb2003
I think the reaction is the same as the construction boss when asking Arthur Dent how much damage the bulldozer will experience when it encounters said Arthur Dent.

LOL.

30 posted on 08/27/2018 11:14:28 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: Pearls Before Swine


31 posted on 08/27/2018 11:15:48 AM PDT by itsahoot (Welcome to the New USA where Islam is a religion of peace and Christianity is a mental disorder.)
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To: elpadre

Sounds like a Lizzie Warren economist


32 posted on 08/27/2018 11:16:11 AM PDT by silverleaf (A man who kneels for the national anthem doesn't stand for much of anything)
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To: Red Badger

Thank God.

Maybe the President can straighten that area out along with all the others.

Very good news, I hope.


33 posted on 08/27/2018 11:17:53 AM PDT by Maris Crane
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To: Red Badger

More Draining. Drain it baby. Trump the plumber. The roto rooter man. Adee do. Drain em all........


34 posted on 08/27/2018 11:19:10 AM PDT by vespa300
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To: knarf

These government loans are primary reasons the cost od education has gone sky high. Free easy money from Uncle Sam - taxpayers!!


35 posted on 08/27/2018 11:20:51 AM PDT by elpadre (AfganistaMr Obama said theoal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: elpadre
"Obama appointee???"

Apparently
36 posted on 08/27/2018 11:23:37 AM PDT by clearcarbon
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To: Red Badger
Hilliary could have won in a landslide if she had campaigned on ‘forgiving’ student loans...............…

Yes, the only reason she didn't is that she believed her own press that she had this one in the bag. If she believed the race was close she would have, and then who knows?

I fully expect the Dems will have this in their 2020 platform. As much as we all hate it philosophically Trump might be smart to get out front and steal their thunder.

Because it IS eventually going to happen IMHO.


37 posted on 08/27/2018 11:27:40 AM PDT by Buckeye McFrog
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To: Red Badger

$1.5 T on debt in which less than 60% will graduate with a FIVE year degree.

None of it dischargeable in bankruptcy, and culturally these kids were pushed into it since they were 10 years old by the public school system.

You want to talk about predatory lending? Tell 15 year olds that they won’t be able to get a job without a degree, send them to these re-education camps and paper mills where they tumble out with no certifications in anything companies are hiring for.

Then tell them they got to pay, after they were allowed to put all kinds of stuff not even related to their education on these loans.

As long as those re-education camps stay open. Because right now, the camps are pretty cushy.

When they start collapsing (and that’s begun), there will still be camps, and they won’t be as cushy.


38 posted on 08/27/2018 11:31:32 AM PDT by RinaseaofDs
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To: Red Badger; All

“But Frotman’s departure is especially noteworthy, since...The Enemy Media SAYS it is!”

You know, I was wondering why I couldn’t sleep last night. My brain was working OVERTIME worrying about some guy I had never heard of, quitting a job I didn’t even know existed!

*Rolleyes*

Winning! MAGA!


39 posted on 08/27/2018 11:33:51 AM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set.)
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To: Diana in Wisconsin

LMAO!


40 posted on 08/27/2018 11:35:32 AM PDT by TADSLOS (1. DonÂ’t Forget Nothing.)
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