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Inae Oh, Mother Jones:

Seth Frotman, who has been the student loan ombudsman at the Consumer Financial Protection Bureau since 2016, announced his resignation Monday, accusing the bureau under its current leadership of having “abandoned the very consumers it is tasked by Congress with protecting” in order to advance the “misguided” policies of the Trump administration.

Frotman’s resignation comes as the total amount of outstanding student loan debt reached a staggering $1.5 trillion this year.

American families need an independent Consumer Bureau to look out for them when lenders push products they know cannot be repaid, when banks and debt collectors conspire to abuse the courts and force families out of their homes, and when student loan companies are allowed to drive millions of Americans to financial ruin with impunity,” he said.

Paul Ciano

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