New watchdog group aims to spur action on student debt

Source: Laura Meckler, Washington Post (Paid Registration)

A consumer group, led by people who quit the Trump administration, is forming in hopes of serving as a check on the student loan industry. The nonprofit Student Borrower Protection Center aims to expand borrower protections and oversight of the $1.5 trillion student loan market.

Its executive director is Seth Frotman, who resigned in August from a senior position at the federal Consumer Financial Protection Bureau. When he stepped down, Frotman asserted that the Trump administration was siding with predatory lenders over consumers and enacting policies that will lead to “far-reaching harm.”

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