Robert Cameron's new job is to protect student loan borrowers from poor industry practices. His previous employer has been cited for poor industry practices
The Trump administration has appointed a longtime student loan industry executive to be the federal government’s top watchdog for the $1.5-trillion student loan market.
Robert Cameron will serve as the Consumer Financial Protection Bureau’s new student loan ombudsman, the bureau said Friday. The job was designed to protect student loan borrowers from poor practices in the student loan industry. It’s one of the few jobs explicitly named in the Dodd-Frank Act, the law passed after the 2008 financial crisis that created the CFPB. It’s considered the go-to office for borrowers who have complaints about their loans.
Cameron most recently worked at the Pennsylvania Higher Education Assistance Agency, better known as Fed Loan Servicing, as its head of compliance and risk mitigation. That agency has been cited for poor industry practices, most notably for how it has handled the, designed to allow student loan borrowers who work in public service jobs to get part of their loan balances forgiven.
A report by the Department of Education’s Inspector General’s Office released this year found that Fed Loan employees received a “fail” grade on interactions with borrowers 11% of the time, far more than the industry average of 4%.The CFPB’s student loan ombudsman position has been vacant for nearly a year. Seth Frotman, an Obama administration appointee,
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Japanese chef Nobu originally refused Robert De Niro's New York restaurant offerNobu had been nervous about partnerships after losing money in restaurants in Peru and Alaska, but his first venture with De Niro in New York opened in Tribeca in 1994 and had much success. The pair went on to found Nobu Hospitality together.
Baca lebih lajut »
House Democrats to mine intel to build Trump impeachment caseDemocrats are using the House Intelligence Committee in an unprecedented way as they consider whether to remove the president.
Baca lebih lajut »
Fact check: Trump takes credit for another factory approved under ObamaFACT CHECK: President Trump takes credit for another factory approved under Obama A federal regulatory commission chaired by a Trump appointee did approve a pipeline that will feed ethane to the plant.
Baca lebih lajut »