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Mortgage rates drop to lowest level in nearly 3 years as Trump orders buying of $200 billion in mortgage bonds

Mortgage rates fell sharply on Friday, a day after President Donald Trump said on social media that he is instructing mortgage giants Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds. “This will drive Mortgage Rates DOWN, monthly payments DOWN, and make…
Editorial News

Trump’s credit card rate cap plan has unclear path, ‘devastating’ risks, bank insiders say

Bank executives were sent scrambling over the weekend after President Donald Trump declared late Friday that American credit card companies would be subject to a 10% cap on the interest rate they can charge customers. The move sent shares of large banks…
Educational News

Bankruptcy success rate for student loan borrowers jumps to 87%, study finds

Student debt has long been considered difficult, if not impossible, to discharge in bankruptcy. But that hasn’t been the case in recent years, a new study finds. The success rate for student loan borrowers who attempt to discharge their debt in bankruptcy has “jumped” to…
Government News

What’s Changing in US Debt Collections in 2026 and Why It Matters Now for Creditors

January is typically when creditors reassess risk, performance, and partners. In 2026, that reassessment carries more weight than usual. Consumer financial pressure remains elevated, regulatory expectations are firm, and borrower behavior continues to evolve. Together, these forces are reshaping how…
Bankruptcy News

Saks Group reportedly preparing to file bankruptcy after missing debt payment

Saks Global is preparing to file for bankruptcy in the coming weeks after missing a debt payment tied to its Neiman Marcus acquisition, The Wall Street Journal reported on Wednesday, citing people familiar with the matter. The parent of high-end department store chain Saks Fifth…
Legal News

US debt crisis deepens: Why national debt surged past $38.5 trillion years ahead of forecasts and what it means for every American

US debt 2026: The United States crossed a major fiscal threshold at the start of 2026 as the national debt climbed past $38.5 trillion, a level once expected closer to around 2030, as per reports. The milestone highlights how quickly…
Educational News

Student loan forgiveness is taxable again: Start planning for the ‘tax bomb,’ CFP says

Student loan borrowers whose debt is canceled in 2026 or later may face a significant tax bill. A law that shielded student loan forgiveness from taxation at the federal level — part of the American Rescue Plan Act of 2021 — expired on Dec. 31, 2025. President Donald…
Editorial News

Dust to data centers: The year AI tech giants, and billions in debt, began remaking the American landscape

West Texas dust, iron-tinged and orange-red, rides the wind and sticks like a film to everything you touch. It clings to skin and the inside of your mouth, a fine grit that turns every breath into a reminder of where…
Government News

Venezuela’s billions in distressed debt: Who is in line to collect?

The toppling of President Nicolas Maduro has thrust Venezuela’s debt crisis — one of the world’s largest unresolved sovereign defaults — into the limelight. Following years of economic crisis and U.S. sanctions that severed the country from international capital markets, Venezuela defaulted in late…
Legal News

Trump administration to start seizing pay of defaulted student loan borrowers in January

The Trump administration will start garnishing the wages of student loan borrowers in default in early January, a spokesperson for the U.S. Department of Education confirmed to CNBC on Tuesday. It will be the first time a portion of borrowers’ paychecks has…