In his resignation letter, Seth Frotman said Trump’s budget director was serving ‘the most powerful financial companies’

The government’s top official overseeing the $1.5tn student loan market resigned in protest on Monday, citing what he says is the White House’s open hostility toward protecting the nation’s millions of student loan borrowers.

Seth Frotman will be stepping down as student loan ombudsman at the end of the week, according to his resignation letter. He held that position since 2016, but has been with the Consumer Financial Protection Bureau since its inception in 2011.

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Read More Top US student loans official resigns over ‘open hostility’ from White House

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