Your rich Uncle Sam is calling in his chips. The U.S. government stepped up collections on delinquent student debt to $2.9 billion last year — or an average of $1,000 from 2.9 million former students and their cosigners, according to … Continue reading →
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ANNAPOLIS, Maryland — Jailing a person for an unpaid debt has been illegal for almost two centuries in the United States. But in Maryland, through a roundabout court procedure, hundreds of people every year are jailed for essentially just that: … Continue reading →
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Wednesday, May 29, 2019 A new report issued by the Government Accountability Office titled, “Private Student Loans: Clarification from CFPB Could Help Ensure More Consistent opportunities and Treatment for Borrowers,” calls on the CFPB to provide clarification to nonbank private … Continue reading →
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Diligent young Americans are putting away money for retirement, just to take it out to pay for student loans, new research found. Americans struggle paying for housing and education, among other necessities and goals, but student debt seems to be … Continue reading →
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Rep. Alexandria Ocsaio-Cortez, D-N.Y., and 2020 candidate Sen. Bernie Sanders, I-Vt., have apparently decided to try to ban credit cards. Sure, that’s not quite what Ocasio-Cortez and Sanders actually say (they just want to stop the swindlers profiting from excessive … Continue reading →
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If you get a robocall promising a reduction in your credit card’s interest rate, the Federal Trade Commission (FTC) has a piece of advice: hang up. The agency says it has begun distributing refunds to consumers who fell for such … Continue reading →
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Tuesday, May 28, 2019 Continuing our coverage of the CFPB’s proposed debt collection rules, this blog post will focus on a few provisions that pertain specifically to mortgage servicers. In part, the proposal continues the CFPB’s efforts to harmonize mortgage servicing … Continue reading →
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Uncategorized Senate Bill 1581, introduced by Sen. Jeff Merkley [D-Ore.] and co-sponsored by Sen. Richard Blumenthal [D-Conn.], Sen. Elizabeth Warren [D-Mass.], Sen. Bob Menendez [D-N.J.], and Sen. Dick Durbin [D-Ill.], would amend the Fair Credit Reporting Act by delaying reporting of … Continue reading →
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Today, Americans owe over $1.5 trillion in student loans, and research shows that it is impacting the ways Americans save, spend and live their lives. The Federal Reserve Board of Washington, D.C. found that an increase in student debt has … Continue reading →
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Total U.S. household debt is now $993 billion higher than the peak of $12.68 trillion in the third quarter of 2008, according to a new report by the New York Fed. According to the Fed’s Quarterly Report on Household Debt and … Continue reading →
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