Thu. Jun 13th, 2024
CFPB Appoints Private Education Loan Ombudsman

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) announced the appointment of Robert G. Cameron to serve as the Bureau’s private education loan ombudsman. Mr. Cameron is a Colonel and Staff Judge Advocate for the Pennsylvania Army National Guard. He has served in the United States Army for 29 years. Mr. Cameron also joins the Bureau from the Pennsylvania Higher Education Assistance Agency where he was a high-ranking official responsible for litigation, compliance, and risk mitigation efforts.  

The Dodd-Frank Act created a private education loan ombudsman position within the Bureau. The Dodd-Frank Act gave the Treasury Secretary, in consultation with the CFPB Director, the authority to designate the ombudsman. The ombudsman is responsible for receiving, reviewing, and attempting to resolve complaints from private student loan borrowers. The ombudsman is also responsible for compiling and analyzing complaint data on private education loans and making appropriate recommendations to the Secretary of the Treasury, the Bureau Director, the Secretary of Education, and Congress.

While at the Pennsylvania Higher Education Assistance Agency, Mr. Cameron directed a staff of attorneys and other personnel and oversaw compliance activities at the agency. He was also responsible for ensuring the Pennsylvania Higher Education Assistance Agency’s compliance with numerous federal and state laws, including the Dodd-Frank Act. Mr. Cameron has also served in Pennsylvania’s Treasury Department and in the Governor’s Office of General Counsel.  

He earned his law degree from the Duquesne University School of Law and undergraduate degree from Washington and Jefferson College, both located in Pennsylvania.

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The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit www.consumerfinance.gov.

Official news published at https://www.consumerfinance.gov/about-us/newsroom/cfpb-appoints-private-education-loan-ombudsman/

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originally published at Finance - RSVTV news