Reader Comments

APNewsBreak: Nation's top student loan official resigns - Business Insider Deutschland

"Adele Searle" (2019-01-21)

 |  Post Reply

NEW tumblr blog YORK (AP) tumblr blog — The top government official tumblr blog overseeing tumblr blog the tumblr blog $1.5 trillion student loan market resigned Monday, tumblr blog tumblr blog citing what he says is tumblr blog the White tumblr blog House's open tumblr blog hostility tumblr blog toward protecting nation's tumblr blog millions of student loan tumblr blog borrowers. Seth Frotman will tumblr blog be stepping tumblr blog down tumblr blog from his tumblr blog position tumblr blog as student tumblr blog loan ombudsman tumblr blog tumblr blog at the end of the tumblr blog week, tumblr blog according tumblr blog to his tumblr blog resignation letter which tumblr blog was tumblr blog obtained by tumblr blog The Associated tumblr blog Press. tumblr blog He held that position since 2016.

tumblr blogFrotman is the tumblr blog latest tumblr blog high-level departure from the Consumer tumblr blog Financial Protection Bureau since Mick Mulvaney, tumblr blog tumblr blog tumblr blog President Donald Trump's budget director tumblr blog who has been also acting tumblr blog director tumblr blog of the bureau, tumblr blog took tumblr blog over tumblr blog in late November. Under Mulvaney, tumblr blog the tumblr blog bureau has tumblr blog scaled back its tumblr blog enforcement tumblr blog tumblr blog work and tumblr blog has proposed tumblr blog revising or tumblr blog rescinding tumblr blog all of tumblr blog the tumblr blog rules tumblr blog and tumblr blog regulations tumblr blog it tumblr blog put tumblr blog into tumblr blog place under the Obama administration. tumblr blog Mulvaney downgraded the mission of Frotman's tumblr blog student loan office and tumblr blog moved it the umbrella of consumer education instead of enforcement.

"The damage you have done to the Bureau betrays these families and sacrifices the financial futures of millions of Americans in communities across the country," Frotman said. Congress specifically tumblr blog tumblr blog created tumblr blog the student loan tumblr blog ombudsman tumblr blog office tumblr blog when it created tumblr blog tumblr blog the CFPB. A previous occupant of tumblr blog that tumblr blog tumblr blog tumblr blog position is Rohit Chopra, tumblr blog who tumblr blog tumblr blog is tumblr blog now a commissioner tumblr blog at tumblr blog the Federal Trade Commission. tumblr blog The position is quite powerful, tumblr blog able to work tumblr blog with the bureau's enforcement tumblr blog staff tumblr blog to tumblr blog specifically target bad behavior tumblr blog in tumblr blog the tumblr blog student tumblr blog loan market.

tumblr blog The office tumblr blog has tumblr blog tumblr blog returned tumblr blog tumblr blog tumblr blog $750 million to tumblr blog harmed student loan tumblr blog borrowers since tumblr blog its creation.

Add comment