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Capital Federal Credit Union opens in Lubbock to serve underserved communities

Source-site LUBBOCK, Texas (KCBD) – The grand opening for Capital Federal Credit Union is scheduled to happen at 3 p.m. today at 4210 50th Street. The vision is to serve Lubbock’s underserved communities. Royce and Linda Lewis, owners of Capital…
Government News

IRS Temporarily Halts Collection Notices

Source-site In what will undoubtedly come as a relief to taxpayers who are tired of getting mail from the IRS, the agency announced Wednesday that it is suspending more than a dozen automated letters so it can catch up on…
Government News

Massachusetts Legislature Advances Data-Privacy Bill

Source-site   The Massachusetts Statehouse in Boston. The Mipsa bill passed a bipartisan vote with no objections from the state legislature’s joint committee. Massachusetts is a step closer to becoming the next U.S. state to bring in strict consumer-privacy laws…
Educational News

CFPB highlights changes in VA medical debt credit reporting practices as precedent for broader healthcare industry

Source-site In a blog post, the CFPB reported that the Department of Veterans Affairs (VA) has announced a change to when it will report information on outstanding medical bills to consumer reporting companies. Under the new VA rule, the VA…
Legal News

U.S. Consumers Stand To Save Billions From Banks’ Overdraft Reforms

Source-site In one of the first efforts to tally the impact of recent overdraft fee reforms, a new analysis finds that changes under way at just five banks could save consumers more than $2 billion annually. The Pew Charitable Trusts…
Legal News

VA Changes Debt-Reporting Procedure

Source-site Veterans who owe money to the Department of Veterans Affairs will have a better chance to avoid having their debt reported to consumer reporting agencies (CRAs). VA has amended its procedures for reporting these debts until all available efforts…
Educational News

Democrats Want Student Loans Cancelled, But Twitter Claps Back

Source-site Democrats tweet that student loans should be cancelled, but opponents say student loan forgiveness has major problems. Here’s what you need to know. Student Loans Another week and another day in which a progressive member of Congress tweets at…
Government News

Medical debt elimination coalition working on additional measures

Source-site Late last month, a broad coalition of Arkansas nonprofits and donors coordinated the elimination of $35 million in medical debt for over 23,000 Arkansans. Leaders from two of the organizing groups say there is still much work to be…
Government News

Navient settles predatory student loan claims for $1.85B

Source-site The company agreed to cancel $1.7 billion in debt owed by more than 66,000 borrowers across the U.S. and pay over $140 million in other penalties. BOSTON — Navient, a major student loan collecting company, agreed to cancel $1.7…
Legal News

What Is A “Junk Fee?” CFPB’s Inquiry Sparks Industry Backlash

Source-site The Consumer Financial Protection Bureau’s Director Rohit Chopra raised hackles by launching a broad inquiry last week into so-called “junk fees” charged on run-of-the-mill financial products such as loans, mortgages and credit cards. “Service charges inflate ticket prices, resort fees hike…