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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump Just Gave a Giant Middle Finger to Student Borrowers Everywhere
One striking phenomenon of the Trump era is the way the presidents daily bombast and Twitter furies can overshadow the ways his administration is screwing people over.
Last Friday, the Consumer Financial Protection Bureau announced that it had finally appointed a new student-loan ombudsman. Mandated by law, the ombudsman acts as a point person for borrowers fighting with their private lenders; the job also involves crunching student-loan data to advise the head of the CFPB, the Treasury Secretary, and Congress on how to improve the often hellish, hall-of-mirrors-style experience of taking on student loans.
The last student-loan ombudsman, an Obama-era holdover named Seth Frotman, resigned last year in a bureaucratic blaze of glory, saying the Bureau had turned its back on borrowers and servicemembers. After nearly a year of searching, Kathy Kraninger, the Trump administrations choice to run the CFPB, unveiled perhaps the most Trumpian pick possible to replace Frotman.
The new student-loan ombudsman is Robert Cameron, who comes to the bureau from a scandal-plagued loan servicer named the Pennsylvania Higher Education Assistance Agency, better known as PHEAA. Which is to say, he joins the bureau from a perch high up in the very industry he is now supposedly going to oversee and help regulate.
Frotman, the previous ombudsman, blasted the CFPBs decision to appoint Cameron. It is outrageous that an executive from the student loan company that has cheated students and taxpayers, and is at the center of every major industry scandal over the past decade, is now in charge of protecting borrowers rights, he said in a statement. This is an insult to the nations 45 million borrowers who deserve an advocate in their corner.
https://www.rollingstone.com/politics/politics-news/trump-student-loan-ombudsman-robert-cameron-873423/
bronxiteforever
(9,287 posts)rurallib
(62,460 posts)abqtommy
(14,118 posts)Initech
(100,107 posts)"Ever notice how Mike Pence had an operation on his asshole and Trump had an operation on his middle finger? What are these two trying to tell us???".
PandoraAwakened
(905 posts)Given that Elizabeth Warren set up the Consumer Financial Protection Bureau, can't wait to hear her rip Cameron a new asshole.
Let's see, how many college-age voters are there? Hmm...and how many voting parents are co-signed on these loans?
She just might get another bump in the polls out of this shitty appointment by tRump.