Earlier today, the Consumer Financial Protection Bureau (CFPB) announced the appointment of Robert G. Cameron as the Bureau’s private education loan ombudsman, giving him the responsibility to resolve complaints from private student loan borrowers.
Following Cameron’s appointment, Rachel Fleischer, Executive Director of Young Invincibles, issued the following statement:
“The Trump Administration has no intention of protecting student borrowers, and this appointment is yet another example of their disregard for the importance of defending students from predatory schools and loan servicers. We are facing a colossal student debt crisis, and Mr. Cameron’s track record at the Pennsylvania Higher Education Assistance Agency as they failed to properly oversee private lenders should disqualify him from serving in this position. Student borrowers need leaders who will stand up to predatory schools and lenders, not protect them as they take advantage of people pursuing a higher education.”