Government News

As credit card debt ticks higher, there are more signs that consumers — even those with higher incomes — are struggling to manage their balances. Credit card debt hit $1.21 trillion in the second quarter, in line with last year’s all-time high, according to…

Senate Republicans are backing a budget package that would raise the debt ceiling by $5 trillion, the largest increase in U.S. history, raising questions about its economic impact. The proposal is part of President Donald Trump’s “One Big Beautiful Bill Act” and would…

The CFPB on April 30, 2025, reached an agreement with lender trade groups to vacate the Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information Rule (the Medical Debt Rule). The joint motion for entry of consent judgment was…

NEW YORK/ALEXANDRIA, VA. – May 2, 2025 — The 30,961 individual chapter 7 filings in April 2025 represented a 16 percent increase over the 26,781 filings recorded in April 2024, according to data provided by Epiq AACER, the leading provider of U.S.…

The debt limit—commonly called the debt ceiling—is the maximum amount of debt that the Department of the Treasury can issue to the public or to other federal agencies. The amount is set by law and has been increased or suspended over the…

WASHINGTON (AP) — The Trump administration and billionaire ally Elon Musk moved to eradicate the agency that provides crucial aid that funds education and fights starvation, epidemic and poverty overseas, sparking a showdown with congressional Democrats who blasted the effort as illegal…

The Trump administration’s pause on new regulations threatens reforms made to ease the burden of medical debt. Although such reforms are broadly popular, and half of Americans worry they will be bankrupted by a major medical event, Republicans have opposed allowing the medical debt…

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will remove an estimated $49 billion in medical bills from the credit reports of about 15 million Americans. The CFPB’s action will ban the inclusion of medical bills on…

Many Americans are starting 2025 a little worse off than before, at least when it comes to credit card debt. Almost half of cardholders — 48% — now carry debt from month to month, according to a new report by Bankrate. That’s…

Paul Bilzerian has been on the run from the Securities and Exchange Commission for so long that he now owes the agency $180 million with interest—almost three times what a court initially ordered him to pay. For 31 years, the agency…