Mountain View
Advocate Andy
$39 Billion in Student Loan Debt to be Discharged Under Biden Plan
804,000 borrowers will see debt relief resulting from program adjustment. The U.S. Department of Education announced it is providing student loan debt relief for 804,000 borrowers who participate in certain income-driven repayment plans. The relief will result in the discharge of $39 billion in student loan debt.
Prehired Sued for Illegal Student Lending Practices
Allegations suggest company used deceptive marketing to sign students up for loans, then sued the students for millions of dollars. A lawsuit filed by the Consumer Financial Protection Bureau (CFPB) alleges that a company known as Prehired used deceptive tactics to sign consumers up for a job training program that was paid for with a type of student loan known as an income share agreement. When the students didn't pay, the company also operated two debt collection companies it used to sue the students for, collectively, millions of dollars at an average student cost of $25,000.
Sen. Lamar Responds to Attorney General's Attack on Corporate Affirmative Action
Legislative leader says letter from Attorney General could harm Black workers and Black business owners. Senate Democratic Caucus Chair London Lamar of Memphis is speaking out about Tennessee Attorney General Johnathan Skrmetti's letter to Fortune 100 companies challenging affirmative action policies.
Advocates Call for Federal Regulation to Prevent Predatory Lending
Consumer group calls out "rent-a-bank" schemes, asks FDIC to take action. A national consumer advocacy group is calling on a key federal regulator to take steps to address predatory lending schemes that allow online lenders to evade state interest rate caps on small-dollar loans.
EasyPay Finance to Pay $215,000 Penalty for Ripping Off DC Consumers
Auto repair finance company charged interest rates of 163%, violating DC law. The District of Columbia's Attorney General, Brian Schwalb, announced that his office is ordering auto repair finance company EasyPay to pay a $215,000 penalty as a result of that company's predatory and illegal lending in DC.
Pastors Speak Out on 6th Circuit Ruling on Gender Affirming Care
Southern Christian Coalition calls for compassion for the "marginalized and excluded" A group of Tennessee pastors affiliated with the Southern Christian Coalition spoke out against a recent ruling by the U.S. Court of Appeals for the Sixth Circuit that allows Tennessee's ban on gender-affirming care for minors to go into effect.
Bank of America Fined $250 Million for Charging Illegal Fees
Bank charged illegal overdraft fees, opened accounts without authorization. The Consumer Financial Protection Bureau (CFPB) announced that it is ordering Bank of America to provide $100 million in reimbursements to customers and pay $150 million in penalties following an investigation that found the bank charged millions in illegal fees and opened accounts without receiving customer permission.
Fintech Industry Praises Missouri Law on Earned Wage Access
A trade association representing so-called "fintech lenders" is cheering the passage of legislation in Missouri that codifies industry practices and creates a regulatory framework for Earned Wage Access (EWA) products.
Federal Regulators Take on Medical Credit Cards
Agencies seek to rein in predatory practices in world of medical debt. A group of federal agencies is working together to study the impact of medical credit cards and installment loans in order to understand the potential for predatory behavior and to protect patients from unscrupulous lenders.
Former Trump Attorney Supports Payday Lenders at Supreme Court
John Eastman, attorney who supported overturning 2020 election, now sides with payday lenders before High Court. An attorney who worked for former President Donald Trump and who authored a memo suggesting ways to overturn the 2020 election is now attempting to help payday lenders avoid accountability in a case before the U.S. Supreme Court.
Timemark to Pay $3.5 Million to Student Loan Borrowers for Charging Illegal Fees
Debt settlement company violated the law by collecting fees upfront. The Consumer Financial Protection Bureau (CFPB) will begin distributing $3.5 million to 7100 student loan borrowers who were charged illegal fees by debt settlement company Timemark. The CFPB announced the distribution is the result of Bureau action against the company as a result of violations of the Telemarketing Sales Rule.
Senators Urge Consumer Bureau to Take Action on Voice Cloning Technology
Lawmakers say AI can threaten consumer financial safety. A group of U.S. Senators is urging the Consumer Financial Protection Bureau (CFPB) to take steps to protect consumers from the risks posed by artificial intelligence (AI). Specifically, the lawmakers are calling out voice cloning technology which they say can put private banking information at risk.
Tennessee Pastors Express Outrage Over Supreme Court Rulings
Southern Christian Coalition calls out decisions they say are "discouraging" and "harmful" During a week in which a number of Supreme Court rulings were handed down, Tennessee pastors affiliated with the Southern Christian Coalition lamented the impact of decisions the group says will harm Tennesseans.
Nashville Advocacy Group to Host Mayoral Forum
NOAH builds coalition of religious, community groups to host forum focused on justice. Nashville advocacy group NOAH - Nashville Organized for Action and Hope - has announced a mayoral candidate forum focused on justice issues. The forum will be held in conjunction with a coalition of religious and community groups and is designed to highlight the positions of mayoral candidates on a range of justice-related issues.
Teachers Union Decries Supreme Court Ruling on Student Loan Forgiveness
National Education Association says decision perpetuates systemic injustice. The nation's largest labor union is speaking out after the U.S. Supreme Court struck down President Joe Biden's student loan forgiveness plan in the Biden v. Nebraska decision released today.
Advocates Cheer Injunction Preserving Right to Gender-Affirming Care
A group of pastors affiliated with the Southern Christian Coalition today celebrated a decision by a federal judge that stops the state of Tennessee from enforcing a recently passed ban on gender-affirming healthcare for individuals under the age of 18.
Payment Processor Fined $25 Million for Illegally Charging 500,000 Mortgage Customers
Processor for mortgage servicer Mr. Cooper mishandled data, initiated unauthorized charges. A payment processing company has been fined $25 million by the Consumer Financial Protection Bureau (CFPB) for data practices that resulted in $2.3 billion in unauthorized mortgage charges impacting 500,000 customers of mortgage servicer Mr. Cooper.
Pastors Speak Out on LGBTQ+ Policy in Tennessee
Southern Christian Coalition calls on policymakers to practice love and tolerance. A group of Tennessee pastors affiliated with the Southern Christian Coalition called on Tennessee policymakers to adopt policies focused on love and tolerance when it comes to the LGBTQ+ community.
State Revenue $2 Billion Over Projections as Fiscal Year Nears End
Tennessee now has significant surplus as it enters planning phase for 2024 budget. The State of Tennessee has collected $2 billion more in revenue than was projected for the fiscal year ending on June 30th. Final revenue numbers for the fiscal year will be available in late August.
Consumer Advocates Express Opposition to House Measure that Would Weaken Consumer Agencies
Advocates say House measure would put consumers at risk in financial marketplace. Consumer advocacy group Americans for Financial Reform (AFR) is expressing opposition to a government funding measure advancing through the House of Representatives. The measure, according to AFR, would significantly weaken federal agencies tasked with protecting consumers.
Advocate Andy
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Andy Spears is a middle Tennessee writer and policy advocate. He reports on news around public policy issues - education, health care, consumer protection, and more.
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