Consumer Financial Protection Bureau building in Washington, D.C. Photo by Diego M. Radzinschi
In a blistering letter, the CFPB's student loan ombudsman resigned Monday, charging that the agency, under Acting Director Mick Mulvaney, no longer protects consumers and is now serving the interests of the most powerful financial companies in America.
"After 10 months under your leadership, it has become clear that consumers no longer have a strong, independent consumer bureau on their side," Seth Frotman, the agency's assistant director and student loan ombudsman, wrote in his letter.
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