Democratic senators have asked Ombudsman Robert Cameron how he plans to deal with potential conflicts of interest tied to his previous employer, a federal student loan servicer.
Alex Pollock: Even if you allow the companies a credit of 2% interest on their over-payments, they would nevertheless be left with a principal debt exceeding $100 billion.
CFPB Director Kathy Kraninger was grilled by Democratic lawmakers regarding enforcement actions during hearings on Capitol Hill. Other topics such as fair lending, innovation policies and qualified-mortgage patch were also on the agenda.