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.

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Misinformation thrives on social media ahead of presidential debate

Joe Biden speaking in Wilmington, Delaware, on Sept. 27. Photo: Roberto Schmidt/AFP via Getty Images

A baseless conspiracy theory that Joe Biden would wear an electronic device in his ear during the first presidential debate on Tuesday went viral on social media hours before the event.

Why it matters: The conspiracy originated on social media before appearing in a text message sent by President Trump’s re-election campaign to supporters. It was then regurgitated by media outlets like Fox News and New York Post, who cited the Trump campaign, throughout the day, according to NBC News.

Amy Coney Barrett says Trump offered her nomination 3 days after Ginsburg's death

Barrett speaks after being nominated to the US Supreme Court by President Trump in the Rose Garden of the White House. Photo:; Olivier Douliery/AFP

Amy Coney Barrett said in a questionnaire released by the Senate Judiciary Committee Tuesday that President Trump offered her the Supreme Court nomination on Sept. 21, five days before he announced the pick to the public.

Why it matters: According to the questionnaire, Trump offered Barrett the nomination just three days after Ruth Bader Ginsburg died, suggesting that the president knew early on that Barrett was his pick. Minutes after offering Barrett the nomination, however, Trump told reporters that he had not made up his mind and that five women were on the shortlist.

Appeals court upholds six-day extension for counting Wisconsin ballots

Photo: Derek R. Henkle/AFP via Getty Images

A federal appeals court on Tuesday upheld a lower court ruling that extended the deadline for counting mail-in ballots in Wisconsin until Nov. 9 as long as they are postmarked by the Nov. 3 election, AP reports.

Why it matters: It's a big win for Democrats that also means that the winner of Wisconsin, a key presidential swing state, may not be known for six days after the election. Republicans are likely to appeal the ruling to the Supreme Court, as the Pennsylvania GOP did after a similar ruling on Monday.

Go deeper: How the Supreme Court could decide the election