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Fed holds rates steady and maintains three cuts coming sometime this year

The Federal Reserve on Wednesday held interest rates steady as expected and signaled it still plans multiple cuts before the end of the year. Following its two-day policy meeting, the central bank’s rate-setting Federal Open Market Committee said it will keep its…
Legal News

Nearly 1 in 4 Americans with debt are putting less money toward credit card payments: ‘People are really struggling’

Total credit card debt in the U.S. has reached a record high — but people are putting less money toward paying it down. Americans collectively hold $1.13 trillion in credit card debt as of the end of December, according to the Federal…
Educational News

Biden Will Try Again to Wipe Out Student Loan Debt for Millions of Borrowers

President Biden will announce a new effort on Monday to reduce or eliminate student loan debt for millions of borrowers, an election-year attempt to revive his goal of providing large-scale relief for Americans struggling to pay off their college loans,…
Government News

Mortgage Rates in U.S. Tick Down in Mid-March

Based on Freddie Mac’s latest Primary Mortgage Market Survey, the U.S. 30-year fixed-rate mortgage (FRM) averaged 6.74 percent as of March 14, 2024. “The 30-year fixed-rate mortgage decreased again this week, with declines totaling almost a quarter of a percent…
Press Release

The Statute of Limitations in Freight Charge Collections: The Case for a Lengthier StateLaw Approach

I. Introduction The statute of limitations serves as a cornerstone in freight charge collections, decisively impacting the legal terrain of the transportation sector. While many perceive the 18-month window from the delivery date as the standard timeframe for carriers to…
Bankruptcy News

The cost of interest on U.S. debt is soaring

U.S. government net interest outlays as share of GDP The U.S. government’s debt is on track to rise to $54 trillion over the next decade, according to the Congressional Budget Office. The big picture: Raw numbers don’t tell you much about whether…
Legal News

Credit card debt hits a ‘staggering’ $1.13 trillion. Here’s why so many Americans are under pressure

Americans now owe a collective $1.13 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances increased by $50 billion, or roughly 5%, in the fourth quarter of 2023,…
Educational News

Biden cancels $1.2bn in student loan debt for 153,000 people

Move will forgive debts of people who borrowed $12,000 or less and have been repaying the money for at least 10 years. US President Joe Biden has said that his administration was cancelling $1.2bn worth of student loans for almost…
Government News

New York Fed sees trouble in auto borrowing as overall debt level rises

Feb 6 (Reuters) – Overall borrowing levels in the U.S. rose modestly during the final three months of last year as more types of borrowing ran into trouble, especially on the auto front, even as overall difficulties remained below levels…
Editorial News

U.S. Debt on Pace to Top $54 Trillion Over Next 10 Years

Congressional Budget Office projections released on Wednesday said a growing economy and recent spending cuts had slowed deficits. The United States is on a pace to add nearly $19 trillion to its national debt over the next decade as the…