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Bank-Backed Congressman Praises Betsy DeVos For Cutting Ties With Consumer Protection Agency

Bank-Backed Congressman Praises Betsy DeVos For Cutting Ties With Consumer Protection Agency

7 years ago
Anonymous $ZOEEBQ1zf0

https://consumerist.com/2017/10/16/bank-backed-congressman-praises-betsy-devos-for-cutting-ties-with-consumer-protection-agency/

Congressman Jeb Hensarling of Texas, whose campaign has received more than $8 million from the financial sector since 2010, has long endeavored to undercut the Consumer Financial Protection Bureau, an agency that regulates many of the businesses that keep Hensarling’s election campaigns flush with contributions. So it’s of little surprise that the lawmaker is thrilled at Education Secretary Betsy DeVos’ recent decision to stop working with the CFPB on student loans — even though the Bureau has returned hundreds of millions of dollars to screwed-over student borrowers.

Hensarling sent a letter to DeVos last week, The Hill reports, praising DeVos for her decision last month to end years of formal cooperation between the Education Dept. and CFPB in combating student loan fraud.