Elizabeth Warren calls student loan appointment 'an outrageous slap in the face'

[TomCADem]

Thank you to Elizabeth Warren for calling out Trump's efforts to undermine consumer protections by appointing industry advocates to head consumer protection agencies.

https://finance.yahoo.com/news/warren-student-loan-official-cfpb-221619642.html

The Consumer Financial Protection Bureau (CFPB) appointed a student loan ombudsman nearly a year the previous official resigned, and Sen. Elizabeth Warren (D-MA) is not happy with the agency’s replacement.

The presidential hopeful sent letters to the CFPB Director Kathy Kraninger, Treasury Secretary Steven Mnuchin, and new CFPB Student Loan Ombudsman Appointee Robert Cameron calling “the appointment of Mr. Cameron, a former executive responsible for compliance at a student loan servicer that has been accused of cheating thousands of students and taxpayers... an outrageous slap in the face to student loan borrowers across the country."

Warren noted that under Cameron’s record, the industry had failed to “comply with federal rules and state consumer protection laws” and asserted that Cameron was “not qualified to serve as the Student Loan Ombudsman.”

Warren, who had spearheaded the creation of the CFPB, asked Kraninger and Mnuchin to reconsider — and reject — Cameron's appointment.