Monday, August 27, 2018

There goes another one

The top federal official in charge of advocating for students dealing with student loan debt resigned Monday, reportedly accusing the Trump administration of abandoning protections for students.

Seth Frotman is the Student Loan Ombudsman at the Consumer Financial Protection Bureau, an office that was created under Dodd-Frank.

[...]

"Unfortunately, under your leadership, the bureau has abandoned the very consumers it is tasked by Congress with protecting," Frotman wrote to the Office of Management and Budget's director Mick Mulvaney, according to NPR. "Instead, you have used the bureau to serve the wishes of the most powerful financial companies in America."

[...]

"The truth is that the president’s consumer protection agenda is a dumpster fire,” said Christopher Peterson, director of financial services at the Consumer Federation of America, in a statement. “The administration has seized control of an independent consumer watchdog, and is strangling one of the only agencies in Washington dedicated to looking out for the rights of ordinary Americans.”

  ABC
...but hey, do what you want...you will anyway.

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