Dept of Education Incompetence Hits New High!

[Truman62]

The Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger may have been blasted for her bureau’s poor oversight of predatory student loan servicers,
but her latest effort to fix the “lousy system” has gone awry for a reason beyond her control: The Department of Education’s alleged obstruction of oversight.

According to a letter obtained by NPR, the Trump administration appointee wrote to Sen. Elizabeth Warren (D-Mass.) that the CFPB was trying to police the student loan
system overseeing $1.5 trillion in outstanding debt but was unable to do its job because the Department of Education (DoE) — which is “the largest participant in the
student lending market” — had “declined to produce information” that the agency needed.

This episode “certainly gives the appearance that the Education Department is trying to block the CFPB from scrutinizing loan servicers,” Harvard Graduate School of
Education’s Francis Keppel Professor of Practice of Educational Policy and Administration Paul Reville told Yahoo Finance.

“Trump's Education Department has been very friendly to servicers in a variety of ways while the Administration has been simultaneously undermining the CFPB generally,”
Reville added. “This latest spat seems to be consistent with the Administration's bias toward the interests of servicers over the interests of students.”

https://www.yahoo.com/finance/news/student-loan-government-oversight-153752765.html


Betsy DeVos needs to be on Capital hill explaining why she is so incompetent and can't follow simple instructions!