Rohit Chopra, who leads the Consumer Financial Protection Bureau, says he is simply enforcing the law. Bankers call him reckless — a “regulator gone rogue.”
Around 200,000 who sought relief after attending schools that the Education Department said showed signs of “substantial misconduct” will have their federal student loans wiped out.
The Education Department said it would wipe out the debts of 560,000 borrowers who had enrolled in the for-profit college chain, which collapsed in 2015.