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Education Department offers a second chance to 7.5 million borrowers who defaulted on student loans

Annie Nova, August 19 2022 The U.S. Department of Education is giving federal student loan borrowers who’ve fallen behind on their debt a chance to get into current standing. As part of its “Fresh Start” initiative, the 7.5 million student loan…
Educational News

Student Loan Payment Pause: What To Expect

Zack Friedman, Aug 22, 2022 Here’s what to expect with the student loan payment pause. Here’s what you need to know — and what it means for your student loans. Student Loans This week could be the most significant period in…
Legal News

72% of economists expect a US recession by the middle of next year

Matt Egan, August 22, 2022 The Federal Reserve is unlikely to tame inflation without pushing the American economy into a recession, according to a survey of economists released Monday. Seventy-two percent of economists polled by the National Association of Business…
Legal News

CFPB Asserts New Authority Over Data Security Practices

James E. Dionne , 22 August 2022 On August 11, 2022, the Consumer Financial Protection Bureau published a Consumer Financial Protection Circular taking the position that providing “[i]nadequate security for the sensitive consumer information collected, processed, maintained, or stored by ……
Bankruptcy News

53% of Consumers Say They Are Financially Worse Off Than Last Year

PYMNTS, August 5, 2022 Inflation runs rampant, at levels not seen in decades. Earnings reports continue to roll in, complete with cautious management commentary: Though consumers are still spending, taking reserves against anticipated loan losses seems the prudent thing to…
Government News

US employers add 528,000 jobs; unemployment falls to 3.5% despite fears of a recession

PAUL WISEMAN, AP Economics Writer, Aug 5, 2022 WASHINGTON (AP) — America’s employers added a stunning 528,000 jobs last month despite raging inflation and anxiety about a possible recession, restoring all of the positions lost in the coronavirus recession. Unemployment…
Educational News

California Private Student Loan Collections

Chris Micheli, August 5, 2022 California has a number of formal acts in statute. Civil Code Division 3, Part 4, Title 1.6C.15 provides the Private Student Loan Collections Reform Act, which is contained in Sections 1788.200 to 1788.211. Title 1.6C.15…
Educational News

Student Loan Forgiveness: New Blockbuster Plan To Cancel Student Loans

Zack Friedman, Aug 5, 2022 Republicans have proposed a blockbuster new plan for student loan forgiveness. Here’s what you need to know — and what it means for your student loans. Student Loans President Joe Biden is days away from…
Legal News

CFPB Director Chopra Discusses Inflation and Cryptocurrency

Moorari Shah, A.J. S. Dhaliwal, Gabriel Khoury August 8, 2022 On July 27, CFPB Director Chopra was interviewed in multiple publications, here and here, about, among other topics, how the CFPB could seek to help mortgage borrowers strained by the…
Legal News

California Privacy Protection Agency Unanimously Opposes the American Data Privacy and Protection Act

Cynthia Larose, August 4, 2022 The new California privacy regulatory body, the California Privacy Protection Agency (CPPA), has loudly voiced its opposition to the proposed federal American Data Privacy and Protection Act (ADPPA). The bottom line for the unanimous opposition:…