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Legal News

CFPB Protecting Borrowers’ Control Over Their Money

As the economy recovers from the global pandemic, American families and businesses are experiencing higher prices as well as higher interest rates. This includes the interest rates for some credit cards. More than 175 million Americans have at least one…
Editorial News

How to Negotiate with Debt Collectors

Whether you owe a debt or not, getting a phone call from a debt collector is never a pleasant experience. And it’s one that may be happening more frequently in recent months. The hiatus that some states and companies put on debt…
Government News

There are 7,060 collections agencies in the U.S.—here’s what to do you if your credit card debt is sent to one

Collections agencies buy your unpaid credit card debt from your card issuer when your balance lingers too long — but that doesn’t mean it goes away. When a collections representative from your credit card issuer calls you, it’s usually because…
Bankruptcy News

Thousands of small firms go bust owing millions in bounce back Covid loans

More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found. Hundreds of directors, who got loans they were not entitled to, have also been disqualified.…
Educational News

US creditors can now DM debtors on social media

Debt collectors are now allowed to contact Americans on social media and by text message, according to new rules enacted by a US agency this week. The rule from the Consumer Financial Protection Bureau (CFPB) opens the door for creditors…
Editorial News

US Department Of Labor Seeking Maryland Home Healthcare Workers Who May Be Owed Back Wages, Damages In $1.13m Recovery

A Plus Personal Home Care denied overtime wages, misclassified 193 workers PIKESVILLE, MD – The U.S. Department of Labor is trying to locate home healthcare workers employed from April 2020 through March 2022 by a Pikesville company who may be owed…
Bankruptcy News

Top US banks smash second quarter profit estimates on rebounding economy

WASHINGTON (Reuters) – The four largest U.S. consumer banks posted blockbuster second-quarter results this week, after pandemic loan losses failed to materialize and the U.S. economy began roaring back to life. Wells Fargo & Co, Bank of America Corp, Citigroup Inc and…
Legal News

U.S. consumer is soldiering on despite soaring inflation and recession risk, credit card giants say

U.S. consumers have demonstrated a willingness to continue to pay higher prices in the face of a sluggish economy that could be tipped into a recession, according to credit card giants American Express and Bank of America. American Express on Friday reported stronger-than-expected…
Educational News

Federal judge declares Biden’s student debt relief plan unlawful

A federal judge in Texas on Thursday ruled that President Joe Biden’s plan to cancel hundreds of billions of dollars in student loan debt was unlawful and must be vacated, delivering a victory to conservative opponents of the program. U.S. District Judge…
Government News

US Fed’s rate hikes and performance of commodities

The US Federal Reserve increased interest rates by 75 basis points in its latest policy meeting, its fourth straight supersized hike this year. This decision lifts the target for the benchmark federal funds rates to its highest level since 2008. After keeping…