Washington, DC

Columbus, OH

Business Insider

A court blocked the SAVE student-loan repayment plan. All 8 million impacted borrowers will be placed on forbearance.

8 million student-loan borrowers on Biden's new repayment plan don't have to make payments after a federal court blocked the program in full

The Associated Press

NEW YORK (AP) — The Consumer Financial Protection Bureau said Thursday that apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the Truth in Lending Act, a 1968 law that requires lenders disclose all loan costs and fees. If enacted, the proposed rule would provide clarity to a fast-growing industry known as Earned Wage Access, which has been compared to payday lending. The agency wants borrowers to be able to “easily compare products” and to prevent “race-to-the-bottom business practices,” CFPB Director Rohit Chopra said on a call with...

US agency says apps that let workers access paychecks before payday are providing loans

This week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion and a research report addressing contract-for-deed home financing, also known as a “land contract,” “land installment contract,” “land sales contract,” “bond for deed,” “agreement for deed,” or “buying on contract.” The advisory opinion concludes that form of seller financing, where the seller retains the deed until the buyer completes the payments, generally is “consumer credit” under the Truth-in-Lending Act and Regulation Z and, therefore, that many providers of the financing must comply with the Ability to Repay and other rules in Regulation Z governing consumer mortgages. The CFPB also asserts that contract-for-deed home financing can trap buyers in unlivable homes and financial hardship.

CFPB Advises Against Certain Contract-for-Deed Practices

Sen. Elizabeth Warren is leading her colleagues in asking the student-loan company Navient for answers on its debt relief process for defrauded borrowers.

A major student-loan company is 'improperly' rejecting some borrowers for debt cancellation they qualify for, 35 Democratic lawmakers say

CFPB Director Rohit Chopra on Thursday defended his agency’s proposed rule to prohibit the listing of medical debt on credit reports, contending that such debts are not a fair indication of a person’s financial health. “We’ve done extensive research on whether medical bills on credit reports are predictive...

Chopra Defends CFPB’s Medical Debt Proposed Rule

Wisconsin State

The US Sun

AMERICANS can get payments from a major interest rate settlement. Big Picture Loans, a private money lender, is paying out big bucks after allegations it charged excessive interest rates. The company is known for offering thousands in loans to people with bad credit and then charging high interest rates. Those high rates can make the […]

Americans can claim one-time payment from $65 million interest rate settlement – but it depends on which state you live

CBS News

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  Credit card debt can be a significant financial burden, but it's one that many Americans are carrying. Not only does the average cardholder have nearly $8,000 in credit card debt currently, but the average rate on that card debt is close to 23% right now. And with rates that high (or higher), it's easy for any revolving credit card balance to become problematic over time.That's why it's so important to pay off what you owe on your credit cards...

3 ways your credit card debt can be forgiven

The Motley Fool

Over time, you should be improving your credit score. But what's a good score for your age right now? Find out here.

What's a Good Credit Score for Your Age?

UPI News

Education Department said on Thursday that the Biden administration has forgiven $1.2 billion more in student loans for 35,000 borrowers through its Public Service Loan Forgiveness Program.

Education Department forgives $1.2B in student loans for 35,000 borrowers

New-vehicle buyers are taking out loans averaging almost 70 months. Average new-vehicle APRs increased to 7.3% during the second quarter. Down payments for new vehicles have slightly decreased. A new study has revealed that many new vehicle buyers in the U.S. are being stretched to their financial limits, signing up...

Americans Drowning In New Car Debt, Loans Averaging 70 Months

FinanceBuzz

Watch out for red flags when you're investing. Here are 10 most common investing scams to watch out for.

Gold Scam May Have Cost Some Investors Their Entire Retirement Savings

Ohio State

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The Lantern

On Tuesday, licensed Ohio dispensaries began legally selling non-medical marijuana to consumers; however, the drug’s possession, growth and/or usage are still prohibited on Ohio State’s campus. Credit: Jefferee Woo/Tampa Bay Times/TNS [Original caption: Four citizen-led petitions with proposals to update Dallas’ charter hit the 20,000 valid signature threshold to make it on the Nov. 5 election ballot, including one that would ban police officers from arresting or citing people carrying less than four ounces of marijuana.] As of Tuesday, students 21 and older can now legally purchase marijuana in Ohio.

Dispensary sales of recreational marijuana began Tuesday; possession and usage still prohibited on Ohio State’s campus

The Education Department is getting close to implementing its broader student-debt cancellation plan this fall, and it has new details on eligibility.

Millions of student-loan borrowers are getting new details on qualifying for Biden's broader debt cancellation plan coming this fall

Colorado State

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

After the 8th Circuit officially blocked Biden's SAVE student-loan repayment plan, the Justice Department asked the Supreme Court to step in.

Student-loan borrowers on Biden's new repayment plan are now waiting for the Supreme Court to decide whether cheaper payments and debt cancellation can resume

The American Federation of Teachers filed a lawsuit against student-loan company MOHELA over claims it misled borrowers on payments and debt relief.

A major student-loan company is being sued over claims it mismanaged 8 million borrowers' accounts, blocking them from lower payments and debt relief

Jacksonville, FL

Jacksonville Today

A historic marker could be erected to honor the victims of the racist mass shooting at the Dollar General store in Jacksonville’s New Town neighborhood nearly a year ago. If approved by the Jacksonville City Council, a marker would be installed at Kings Road and Canal Street on Aug. 25, a day before the first anniversary of the shooting, when a white gunman took the lives of three Black people.

Memorial considered to honor Dollar General victims

Market Financial Solutions (MFS) and CHL Mortgages for Intermediaries have joined new lender panels, broadening their access to intermediary networks. MFS, a London-based specialist lender, has been added to HLPartnership’s (HLP) panel of lenders. The partnership allows HLP’s network of over 930 mortgage advisers to offer MFS’s residential buy-to-let mortgage products to their clients.

MFS and CHL Mortgages join new lender panels

Denver, CO

Migrants enrolled in the Denver Asylum Seekers Program won’t get cash benefits after all. The council amended a contract with Haven for Hope during the Safety, Housing, Education and Homelessness Committee meeting Wednesday. Instead of Haven of Hope providing migrants with cash assistance on debit cards, it will instead provide “culturally appropriate” food.

Denver revokes cash assistance for migrants

Nearly half of student loan borrowers are anticipating debt forgiveness in the future. While there are ample opportunities for relief, consumer advocates warn families not to make borrowing decisions based on the assumption that they won't have to repay the debt. Nearly half — 48% — of student loan borrowers...

Nearly half of student loan borrowers are expecting debt forgiveness, Sallie Mae report finds

Fort Myer, VA

Alexandria, VA

Brentwood, MD

Bethesda, MD

Takoma Park, MD

Hyattsville, MD

Silver Spring, MD

Bladensburg, MD

Falls Church, VA

Glen Echo, MD

NewsBreak

CFPB Takes Action to Stop Contract-for-Deed Investors from Setting Borrowers Up to Fail

CFPB affirms that contracts for deed must comply with longstanding federal mortgage protections. WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today released an advisory...

CFPB Takes Action to Stop Contract-for-Deed Investors from Setting Borrowers Up to Fail

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