Elizabeth Warren Slams Student Loan Watchdog Hire As 'Outrageous'
Added 08-24-19 05:06:02am EST - “Robert Cameron was a top lawyer for one of the country's largest student loan servicers. In documents obtained by NPR, Warren called his appointment a "slap in the face to student loan borrowers."” - Npr.org
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Robert Cameron will serve as the next student loan ombudsman at the Consumer Financial Protection Bureau, headquartered in Washington, D.C. Bloomberg/Bloomberg via Getty Images hide caption
Robert Cameron will serve as the next student loan ombudsman at the Consumer Financial Protection Bureau, headquartered in Washington, D.C.
The federal Consumer Financial Protection Bureau (CFPB) has a new student loan watchdog, and his appointment is raising questions about who is safeguarding the interests of student borrowers.
Massachusetts senator and Democratic presidential hopeful Elizabeth Warren, who helped create the CFPB, sent a scathing letter on Thursday to the bureau's current director. In documents obtained by NPR, Warren called the appointment of Robert Cameron "an outrageous slap in the face to student loan borrowers across the country." Warren also sent letters to Treasury Secretary Steven Mnuchin and directly to Cameron, writing "your employment history presents an irresolvable conflict of interest that will prevent you from being able to serve as an effective Student Loan Ombudsman."
The watchdog job has been vacant since last summer, when the CFPB's previous student loan ombudsman resigned in protest, arguing that the Trump administration was not doing enough to protect student borrowers.
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