Jack Remondi issued a direct call Wednesday for the agency to drop its lawsuit against the student loan servicer. “You’ve had five years to look for your evidence, you’ve found none,” he said.
Allied Progress, a consumer watchdog, sued the CFPB and the OMB on Wednesday for failing to respond to a request for documents on Kathy Kraninger, President Trump's nominee to lead the CFPB.
As the company boosts originations to subprime and other borrowers, it remains to be seen if the improvements in asset quality will continue. A similar question mark is hanging over many consumer lenders these days.
