admin 
Fintech lenders that serve subprime customers often weather criticism from regulators and consumer advocates for charging high interest rates or fees that, if converted to an annualized APR, exceed state interest-rate caps. But there’s another view that says some of these fintechs give people who have a low or nonexistent FICO score a way to … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US companies are defaulting on junk loans at the fastest rate in four years, as they struggle to refinance a wave of cheap borrowing that followed the Covid pandemic. Defaults in the global leveraged loan … Read more
Washington CNN — Some Democratic lawmakers are pressuring the Biden administration to take further action on student loans before President-elect Donald Trump takes office, including finalizing some debt forgiveness it already approved. Trump hasn’t made specific promises on student loans, but canceling debt isn’t a policy priority like it has been for President Joe Biden, … Read more
Legislation concerning student loan repayment assistance, paid sick days and absentee ballots are among over a dozen laws that will take effect in Connecticut on Jan. 1. Laws are passed by the Connecticut General Assembly during each year’s legislative session or in a special session. They typically take effect on Jan. 1, July 1 or … Read more
What’s New As 2025 approaches, and with it a new federal government, student loan borrowers who have benefitted from low or no repayments, enhanced pathways to forgiveness, and interest-free deferments will likely experience changes to how debt is recovered by the federal government. Why It’s Important There are tens of millions of student borrowers across … Read more
On December 16, the CFPB released a special edition of its Supervisory Highlights, which detailed findings from the Bureau’s recent examinations of student loan markets. The report identifies a range of violations related to student loan refinancing, private lending and servicing, debt collection, and federal loan servicing. Notable violations identified by the Bureau include: Lenders mislead borrowers … Read more
On December 17, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule applying standard mortgage protections to Residential Property Assessed Clean Energy (PACE) loans. The rule amends Regulation Z to clarify that voluntary tax assessments and liens, like PACE financing, are not excluded under the Truth in Lending Act (TILA) and recognizes PACE financing as meeting the definition … Read more
It’s been a stressful time to have student loans. Between payment pauses and the courts disputing the legality of the Biden administration’s SAVE repayment plan, there’s a lot of uncertainty about what’ll happen next. Elaine Rubin, a higher education policy expert As a student loan expert with more than 15 years of experience in the … Read more
Get a daily rundown of the top stories on Urban Milwaukee University Club of Milwaukee, 924 E. Wells St. Michael Barera, CC BY-SA 4.0 , via Wikimedia Commonssit The University Club of Milwaukee has agreed to a $1 million settlement with the U.S. Department of Justice (DOJ) over allegations that it improperly participated in a COVID-19 … Read more
Marijuana multistate operator Standard Wellness Holdings has secured a $10 million credit facility. The 10-year term loan, which amortizes over 20 years with a 9.25% interest rate, will support the Ohio-based company’s growth and operational expansion, according to a news release. The loan also allowed Standard Wellness to repay some higher-cost debt that carries a … Read more