The Biden administration will wipe away around $1 billion in student loan debt for borrowers who said they got ripped off by their schools. Officials say the move helps around 72,000 Americans whose complaints may have resulted in only partial … Continue reading →
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S&P Dow Jones Indices and Experian released today data through February 2021 for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was five basis … Continue reading →
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The Consumer Financial Protection Bureau (CFPB) recently considered eliminating strict liability for one category of claims under the Fair Debt Collection Practices Act (FDCPA): claims asserting that a debt collector brought or threatened to bring legal action to collect a … Continue reading →
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Direct payments from the newly approved coronavirus relief package began landing in people’s bank accounts with striking quickness this weekend, but a glaring shortcoming of the American Rescue Plan caused by the arcane procedural tool that Democrats used to pass … Continue reading →
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Nick Mostris had hoped to buy his parents’ home, situated on the outskirts of Baltimore County, from his brothers after their mother died in 2019. Yet an almost 30-year-old hospital bill accrued by his father, who died in 2007 after … Continue reading →
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U.S. credit card debt dropped to its lowest point since 2017 as borrowing fell off in January for the first time since August, the Associated Press reported. The decline in credit card borrowing offset overall borrowing gains in vehicle and … Continue reading →
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What You Need to Know “Wealthy tax cheats are stealing billions from the American people,” Sen. Ron Wyden says. The IRS, which is short on resources, fails to collect much of this debt. Tax collectors could make significant progress by … Continue reading →
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»MORE: Millions get huge tax bills for jobless benefits received during pandemic Revolving credit card debt among average households dropped to $8,089 by the end of 2020, CNBC reported. A January study by NerdWallet placed the total credit card debt … Continue reading →
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WASHINGTON – A warning for Americans who will receive $1,400 stimulus checks under the third round of direct COVID-relief payments: If you have unpaid debts, creditors may come after your money. Debt collectors will be able to garnish the stimulus … Continue reading →
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Two members of the National Credit Union Administration board on Wednesday called for the agency to make it easier to start new credit unions. “There has got to be an easier path for de novo credit unions,” NCUA Vice Chairman … Continue reading →
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