Director of the Office of Management and Budget Mick Mulvaney. Photo: Mark Wilson/Getty Images

Seth Frotman, the Consumer Financial Protection Bureau official in charge of overseeing the $1.5 trillion student loan market, has stepped down, saying the White House has made it difficult to protect the millions of students who have taken out loans for their higher education, the AP reports.

Key quote: “You have used the bureau to serve the wishes of the most powerful financial companies in America. The damage you have done to the bureau betrays these families and sacrifices the financial futures of millions of Americans in communities across the country,” Frotman wrote in a letter to the Trump's budget director, Mick Mulvaney, who took over the CFPB in November.

The big picture: The CFPB has been at the center of lawsuits targeting student loan scams and fraudulent universities — such as the for-profit Corinthian Colleges, which were shut down in 201.

  • CFPB is currently suing Navient, a large student loan servicer. But Betsy Devos's Department of Education, however, has not been cooperative with the lawsuit, according to the AP.

Go deeper

3 hours ago - Health

15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
4 hours ago - Health

In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.