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Loan Watchdog Starts Group to Fight for Borrowers

November 29, 2018
 
 

The Consumer Financial Protection Bureau's former top student loan official said Wednesday he was launching an organization to advocate for student borrowers across the country.

Seth Frotman, the former student loans ombudsman at CFPB, publicly resigned from the agency in August and accused top officials in the Trump administration of abandoning responsibilities to consumers.

Frotman said the new organization, the Student Borrower Protection Center, will push for state and city leaders to add new consumer protections for borrowers. And he said the group will campaign for California lawmakers specifically to pass a borrower bill of rights.

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