“your leadership… has abandoned the very consumers it is tasked by Congress with protecting… Instead, you… serve the wishes of the most powerful financial companies in America.”

“Seth Frotman wrote in a scathing letter that he would leave his position as student loan ombudsman at the Consumer Financial Protection Bureau at the end of the week. Frotman has held the position since 2015 and has been at the bureau since 2011.

“Unfortunately, under your leadership, the Bureau has abandoned the very consumers it is tasked by Congress with protecting,”

Frotman wrote to Mick Mulvaney, the bureau’s acting director.

“Instead, you have used the Bureau to serve the wishes of the most powerful financial companies in America.”

source

Seth Frotman, top student loan watchdog with the US Consumer Financial Protection Bureau in a resignation letter to Mick Mulvaney, acting director