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Two months into the new fiscal year and the U.S. government is already spending more than $10 billion a week servicing national debt

The calendar year may have a few weeks left to tick off, but as far as the government’s budget is concerned, we’re in fiscal 2026. And in a matter of weeks, the Treasury has already paid out a 12-figure sum…
Educational News

Student loan borrowers including higher earners may qualify for lower monthly bills soon

Many student loan borrowers could soon have access to lower monthly payments, as the U.S. Department of Education finishes implementing changes to one of its repayment plans. Previously, borrowers needed to prove a “partial financial hardship” — or income below a certain level…
Legal News

Consumer debt crisis deepens: Americans are falling behind on credit cards, loans, and mortgages – is it time to worry?

Consumer debt crisis deepens. Americans now owe nearly $18.6 trillion in household debt. That’s a record high. Mortgages, credit cards, and student loans are driving the surge. Even prime borrowers are starting to slip on payments. Mortgage debt alone sits at over $13…
Editorial News

Kenya, US agency to proceed with $1 billion debt-for-food swap

NAIROBI, Dec 4 (Reuters) – The U.S. International Development Finance Corporation has agreed to proceed with a $1 billion debt-for-food security swap with Kenya to replace costly debt with lower-cost financing, Kenyan President William Ruto said. The East African country,…
Bankruptcy News

Mortgage rates finally moved lower last week, but that didn’t do much for demand

After rising for several weeks, mortgage rates moved decidedly lower last week, but not enough to make much of a difference in demand from current borrowers or potential homebuyers. Total mortgage application volume fell 1.4% for the week, according to…
Government News

Treasury yields move lower as end of the government shutdown nears

U.S. Treasury yields were lower on Wednesday as investors welcomed progress on bringing an end to the government shutdown. The 10-year Treasury yield was down more than 4 basis points to 4.065%. The 2-year note yield also fell more than 2 basis points to…
Editorial News

Trump CFPB takes aim at 15 states that ban medical debt on credit reports—it’s ‘salt in the wound,’ says consumer advocate

The administration of President Donald Trump is taking aim at state laws that ban the inclusion of medical debt on consumers’ credit reports. In late October, the Consumer Financial Protection Bureau released what’s known as an interpretive rule, stating that laws prohibiting…
Educational News

Consumer debt looks balanced but not student loans

During the third quarter, nominal household debt rose 1.1% quarter-over-quarter to a total of $18.6 trillion. That’s from the Federal Reserve Bank of New York’s Household Debt and Credit report. Consumers aged 18-59 took on more debt; those aged 60…
Bankruptcy News

Agencies Issue Final Rule to Modify Certain Regulatory Capital Standards

WASHINGTON – The federal bank regulatory agencies today jointly issued a final rule that modifies certain regulatory capital standards to reduce disincentives a banking organization may have to engage in lower-risk activities, such as intermediating in U.S. Treasury markets. The…
Legal News

Rising household debt balances point to worsening ‘K-shaped’ economic divide

Americans are falling deeper into debt, but not across the board. Collectively, credit card balances rose by $24 billion in the third quarter to $1.23 trillion — up 5.75% from a year earlier to a fresh all-time high, according to a new report on household…