Betsy DeVos! Making America Great Again - for Grifters
"Education Secretary Betsy DeVos is inexplicably backing away from rules that are meant to prevent federal student loan borrowers from being fleeced by companies the government pays to collect the loans and to guide people through the repayment process.
On Tuesday, she withdrew a sound Obama administration policy that required the Education Department to take into account the past conduct of loan servicing companies before awarding them lucrative contracts — and to include consumer protections in those contracts as well.
The department is doing the loan industry’s bidding at a time when student debt has crippled a generation financi2ally and the country’s largest loan servicing company, Navient, is facing several lawsuits accusing it of putting its own interest before that of the borrowers it is supposed to help."
https://mobile.nytimes.com/2017/04/13/opinion...
Another Trump appointee, working to destroy protections for Americans, and put the profit in their pockets.
To wit -
"In a Office of Government Ethics report that was completed January 20, DeVos agreed to divest from a long list of companies that pose a conflict of interest
Among them is LMF WF Portfolio, a company which helped finance a $147 million loan to a debt collection agency that does business with the Department of Education, called Performant Financial Co. ...
Performant recently lost out on a U.S. Department of Education contract and is appealing the decision with the Government Accountability Office. Performant desperately needs that contract because it represents 24 percent of its business, according to the company's SEC report, and its stock is tanking to $2 a share. If confirmed as Secretary, DeVos would be in a position to influence the awarding of these contracts and would have oversight responsibility for private debt collectors working for the government, explains the Washington Post.
And Performant clearly needs oversight.
Performant racked up 346 complaints with the Better Business Bureau. The company is accused of applying wage garnishments for debt already paid, calling debtors at work, calling family members of debtors at work, and other inappropriate and potentially illegal behavior. One consumer complaint posted online says Performant repeatedly pestered a 90 year old World War II vet for a nonexistent student loan with Wells Fargo."
...
"The Consumer Financial Protection Bureau, the financial watchdog agency that Senator Warren helped to create during the financial crisis of 2009, also has numerous complaints against the company registered in its public database.
A student in Massachusetts filed a complaint with the CFPB against Performant for its continued attempts to collect debt that was already paid.
A student in Georgia filed a complaint against Performant for using "obscene/profane/abusive language".
A student in South Carolina filed a complaint with the CFPB because Performant attempted to collect the wrong amount.
A Connecticut student filed a complaint against Performant for "continued attempts to collect debt" that was not theirs.
A student in Illinois filed a complaint against Performant because they did not receive a right to dispute notice."
http://www.prwatch.org/news/2017/01/13207/bet...
Making 'Murica great again - for grifters!
= new reply since forum marked as read
No, try "You, the American consumer, will pay for Putin to rebuild his military.
