Government News

Brad Dress, August 21, 2022 Education Secretary Miguel Cardona on Sunday said the Biden administration is due to announce a decision on whether to extend a pause on federal student loan debt in the next week, butting up to an…

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…

Victoria Mossman , July 25, 2022 The UK’s Insolvency Service has utilised its new powers for the first time against directors that dissolve businesses to avoid the payment of its debts. The move is seen as the Insolvency Service ramping up…

Source: site Fitch Ratings-New York-15 July 2022: Borrowers continue to work with their servicers post-forbearance to avoid loan default, according to Fitch Ratings’ 1Q22 U.S. RMBS Servicer Metric Report. “Loan portfolio delinquencies for both bank and non-bank servicers remained stable in…

Source: site NEW YORK (Reuters) – Second quarter profits at big U.S. banks are expected to fall sharply from a year earlier on increased loan loss reserves, as the pandemic recovery gives way to a possible recession. Analysts expect JPMorgan Chase…

Source: site (Bloomberg) — US consumer spending fell in May for the first time this year and prior months were revised lower, suggesting an economy on somewhat weaker footing than previously thought amid rapid inflation and Federal Reserve interest-rate hikes. Most…

Source: site June 27 (UPI) — California lawmakers have reached a budget deal that will offer “inflation relief” payments to millions of taxpayers in the state. “California’s budget addresses the state’s most pressing needs, and prioritizes getting dollars back into the pockets…

Source: site The California Office of Administrative Law (OAL) has approved the California Department of Financial Protection and Innovation’s (DFPI) final regulations, which require providers of commercial financing, including nonbank lenders, to provide commercial borrowers with cost-of-credit disclosures similar to those…

Source: site Breaking a partisan deadlock, there are now three FTC Commissioners appointed by Democrats, and two appointed by Republicans who are in charge of how the FTC spends its resources prosecuting the federal competition (or antitrust) laws. As one might…

Source: site In the first indication that President Joe Biden could be preparing to cancel student loan debt, the administration is prepared to wipe out nearly $6 billion owed by hundreds of thousands who attended a for-profit college chain, a possible…