Government News

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today took action against a medical debt collector, Commonwealth Financial Systems, for illegally trying to collect unverified medical debts after consumers disputed the validity of the debts. Under the order issued today,…

WASHINGTON —  The federal government’s gross national debt has surpassed $34 trillion, a record high that foreshadows the coming political and economic challenges to improve America’s balance sheet in the coming years. The U.S. Treasury Department issued a report Tuesday…

Nov 1 (Reuters) – The U.S. Treasury Department on Wednesday said it plans to “gradually” increase the size of most of its debt auctions in the November 2023 to January 2024 quarter and expects it will need one more additional quarter of…

Federal bank regulatory agencies announced today that they will extend until January 16, 2024, the comment period on their long-term debt proposed rule to improve the resolvability of large banks and enhance financial stability.  The agencies extended the comment period to allow…

As the Supreme Court starts a new term, experts are closely watching a case that could have sweeping effects on the U.S. tax code, including corporate revenue and future wealth tax proposals. This summer, the high court agreed to hear Moore v. United States, a case…

The Supreme Court is set to hear oral arguments Tuesday in a case with the potential to gut the Consumer Financial Protection Bureau, a watchdog agency created in the wake of the 2008 financial crisis. The case — CFPB v. Community Financial Services Association…

The Federal Reserve held interest rates steady in a decision released Wednesday, while also indicating it still expects one more hike before the end of the year and fewer cuts than previously indicated next year. That final increase, if realized,…

A combination of inflation and climbing interest rates seems to be stretching consumers’ balance sheets, but it’s not clear yet whether they’re getting to a breaking point. Newly released data from WalletHub says U.S. consumers took on $43 billion in additional…

WASHINGTON, May 9 (Reuters) – The U.S. government will begin defaulting on its payment obligations between early June and early August without an increase in the federal debt limit, the Bipartisan Policy Center said on Tuesday, flagging pressure from a…

US mortgage rates rose for the third week in a row but stayed just under the 7% threshold. The 30-year fixed-rate mortgage averaged 6.96% in the week ending August 10, up from 6.90% the week before, according to data from Freddie…