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 ...
Getting out before the forensic auditors arrive.
Self draining swamp.
Best election ever!
So sad. McCain went and overshadowed his drama queen parade.
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.
So...Seth Frotman...was hired at the DOJ..or the FBI now.
“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.
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.
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
LOL.
Sounds like a Lizzie Warren economist
Thank God.
Maybe the President can straighten that area out along with all the others.
Very good news, I hope.
More Draining. Drain it baby. Trump the plumber. The roto rooter man. Adee do. Drain em all........
These government loans are primary reasons the cost od education has gone sky high. Free easy money from Uncle Sam - taxpayers!!
$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.
“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!
LMAO!
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