#frotman

Trump’s Education Secretary, Betsy DeVos, has done her part as well:

Announcing that Department of Education would no longer share information with the CFPB about the department’s oversight of federal student loans, after the CFPB sued the nation’s largest student-loan servicer, Navient, for mismanaging borrower payments and steering struggling borrowers into costly plans

Protecting student loan servicers and debt collectors from states’ efforts to regulate them

Scrapping the Department’s Gainful Employment regulations, which are specifically designed to target “schools where graduates struggle with poor earnings and deep debt”

Frotman finally had enough. He resigned, in a scathing letter to Mulvaney:

“After 10 months under your leadership, it has become clear that consumers no longer have a strong, independent Consumer Bureau on their side. ... under your leadership, the Bureau has abandoned the very consumers it is tasked by Congress with protecting. Instead, you have used the Bureau to serve the wishes of the most powerful financial companies in America. ... It is clear that the current leadership of the Bureau has abandoned its task to fairly and robustly enforce the law. The Bureau’s new political leadership has repeatedly undercut and undermined career CFPB staff working to secure relief for consumers. ... Recently, senior leadership at the Bureau blocked efforts to call attention to the ways in which the actions of this administration will hurt families ripped off by predatory for-profit schools. Similarly, senior leadership also blocked attempts to alert the Department of Education to the far-reaching harm borrowers will face due to the Department’s unprecedented and illegal attempts to preempt state consumer laws and shield student loan companies from accountability for widespread abuses. ...  The current leadership has turned its back on young people and their financial futures.”