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Educational News

North Carolina says it will tax Biden’s student loan forgiveness, and 3 more states are likely to follow suit

Bevan Hurley, September 2, 2022  North Carolina residents will have to pay state taxes on the Biden administration’s student loan forgiveness, the state’s Department of Revenue says. The White House announced last week a plan to waive $10,000 in federal…
Legal News

CFPB Warns Firms On Poor Cyber Hygiene

Adam Mazmanian, Septembert 2, 2022 Companies that fail to take basic steps to secure customer data and maintain a basic level of cybersecurity hygiene for user accounts could fall afoul of a host of regulators, according to a Consumer Finance…
Legal News

Court Enforces Arbitration Provision in TCPA Suit

Manatt, Phelps & Phillips, LLP, September 2, 2022 A Michigan federal court upheld an arbitration clause found on a lead generation website, granting a defendant’s motion to dismiss a Telephone Consumer Protection Act (TCPA) case. On August 15, 2021, Dustin…
Bankruptcy News

US mortgage lenders are starting to go bankrupt

Chris Clark, 30 August 2022 The real estate market just can’t catch a break, with inventory of resale homes remaining low and rising interest rates making it harder for buyers to justify making the leap. And now we can add…
Government News

Florida TCPA Action Survives Motion To Dismiss

David O. Klein, 29 August 2022 In a recent Florida putative class action, Pariseau v. Built USA, LLC, plaintiff alleged that defendant violated the Telephone Consumer Protection Act(“TCPA”) as well as the Florida Telephone Solicitation Act (“FTSA”), by sending unsolicited…
Educational News

Biden’s Student Loan Forgiveness Could Be Taxable In Some States

Adam S. Minsky, August 29, 2022 The Biden administration has confirmed that student loan forgiveness won’t be a taxable event at the federal level for borrowers. But at the state level, things get a bit more complicated. President Biden announced…
Editorial News

Student debt forgiveness unlikely to ‘destroy’ the loan servicing sector

MEGAN LEONHARDT, August 29, 2022 Many student loan borrowers and consumer advocates breathed a sigh of relief Wednesday that the promise of student loan forgiveness was finally becoming a reality. But for businesses trying to turn a profit on managing these…
Legal News

80% of Financial Advisors Say U.S. Recession Is Coming

Susannah Snider, CFP®, August 29, 2022 When it comes to the question of whether Americans are in a recession –or headed for one in the near future – financial advisors are pessimistic. In a survey of close to 300 financial advisors who…
Legal News

Walmart Seeks To Dismiss Lawsuit By FTC Over Money Transfers

The Associated Press, August 29, 2022 NEW YORK (AP) — Walmart filed a motion on Monday to dismiss a lawsuit by the Federal Trade Commission in June that accused the nation’s largest retailer of allowing its money transfer services to…
Bankruptcy News

CMBS Delinquencies Vulnerable to Inflation, Particularly by Metro Area

Erik Sherman, August 22, 2022 According to Trepp, CMBS delinquencies, which had been on a decline until a June uptick, are back on their way down again. “After a rare uptick in June 2022, the Trepp CMBS Delinquency Rate resumed…