CULVER CITY CA FEBRUARY 21, 2024 — President Joe Biden announced an additional $1.2 billion in … [+] student loan forgiveness for about 153,000 borrowers. (Irfan Khan / Los Angeles Times via Getty Images) Los Angeles Times via Getty Images The federal student loan system is, in a word, a mess right now. Between ongoing … Read more
Sezzle Inc. (NASDAQ:SEZL), the BNPL fintech, is under fire after a brutal report from Hindenburg Research wiped 21% off its stock, which now trades at $247.98. Hindenburg accuses Sezzle of funding its growth through loans at sky-high 12.65% interest rates to borrowers with poor creditconsumers who can’t access traditional financing. Merchant and customer numbers are … Read more
Failure to document a transfer of funds between related parties as a loan may lead to the transfer’s being characterized as something other than a loan for income tax purposes, notwithstanding the transferee’s intent to repay the amount advanced. Indeed, even if a transfer is evidenced by a promissory note, failure to document the loan … Read more
PG&E announces $15 billion loan for upgrades to energy infrastructure The utility still has to meet environmental and financial requirements before the loan is approved by the DOE. SAN JOSE, CA – PG&E announced on Tuesday that it’s received a conditional commitment from the U.S. Dept. of Energy for a $15 billion loan to … Read more
Premiership rugby clubs who “have been teetering on the edge” are set to come under further scrutiny by the government over the repayments of their £124m Covid bailout loans. A report by the National Audit Office details how the Department for Culture, Media and Sport (DCMS) awarded 26% of its £474m loans to Premiership clubs, … Read more
It’s been a confusing year for student loan borrowers, to say the least. With two student loan debt relief programs still tied up in the courts and a new administration taking office soon, you probably feel uncertain about what’s next for your loans or debt relief program. Elaine Rubin, a higher education policy expert I’ve been a … Read more
Report finds that mortgage servicers may pile on pressure during vulnerability. When a client is going through a divorce or grieving following the death of their spouse, the last thing they need is to be unfairly treated by their home loan servicer. But a new report from the Consumer Financial Protection Bureau says firms may … Read more
A former vice president of a Lawton bank has been ordered to serve 16 months in prison for costing his bank more than $1 million during a fraud scheme he hatched to fund his gambling habit. In Oklahoma City federal court this month, U.S. District Judge Jodi W. Dishman imposed the sentence on John Padilla, … Read more
The federal government is clawing back relief money it granted to local businesses during the pandemic, after finding that some may have been ineligible for the funds. Two Milwaukee-area businesses recently agreed to pay back loans that had been forgiven through the Paycheck Protection Program just three years earlier. Those businesses — University Club of … Read more
The U.S. is set to grant a more-than $9.6 billion loan to Ford and a partner for the construction of new electric vehicle (EV) battery manufacturing plants, with the country’s top energy agency this week saying that it has finalized the offer. On Monday, the U.S. Department of Energy (DOE) announced that it has finalized … Read more