Sen. Elizabeth Warren’s recent proposal to alleviate student debt for tens of millions of Americans isn’t as palatable for credit unions as it is for borrowers. Warren, who is running for the Democratic nomination for the 2020 presidential election, has … Continue reading →
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Credit reports were the most-complained-about product in 2018, an analysis of Consumer Financial Protection Bureau database finds. The three major credit bureaus, Equifax, Experian and TransUnion, were the most-complained-about companies last year. Mistakes on their reports can result in consumers … Continue reading →
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In 2019, more than 44 million Americans collectively owe $1.5 trillion in student loans. Surpassing credit cards and auto loans, student debt is now the second highest consumer debt category, behind only home mortgages. What’s more, 11.4 percent of student … Continue reading →
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The majority of American voters give a thumbs up to Democratic presidential candidate Elizabeth Warren’s plan to cancel student debt. In a new Politico/Morning Consult poll, 56% of registered voters said they support the Massachusetts senator’s proposal to wipe out … Continue reading →
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As soon as next week, the Consumer Financial Protection Bureau (CFPB) is expected to propose the first substantive regulations under the Fair Debt Collection Practices Act (FDCPA) since the law’s enactment in 1977. This rulemaking has the potential to substantially … Continue reading →
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Beacon Journal/Ohio.com Wednesday May 1, 2019 at 1:18 PM May 1, 2019 at 1:18 PM Alliance Data Systems Inc. has given the state of Ohio 60 days notice that it is permanently laying off 150 Akron workers who previously worked for Signet Jewelers. The Columbus-based subsidiary of Alliance Data filed … Continue reading →
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What’s your credit card balance right now? If it’s zero, congratulations! You aren’t contributing to America’s record $870 billion in outstanding credit card balances. According to Q4 2018 data from the Federal Reserve, we have just over $1.05 trillion in … Continue reading →
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When you apply for a personal loan, your credit report is often studied by the lender to assess your creditworthiness and understand how good you’ve been at managing credit in the past. Many financial technology companies currently active in the … Continue reading →
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Monday, May 6, 2019 Last week, Senator Dick Durbin, D-Ill., reintroduced a bill, the “Protecting Consumers From Unreasonable Credit Rates Act of 2019,” that would create a national interest-rate cap of 36% on consumer loans. The legislation would make all open-end … Continue reading →
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Indiana Attorney General Curtis Hill announced Monday the state is suing credit agency Equifax. The suit follows an investigation into a 2017 data breach that compromised the private information of nearly 4 million Hoosiers. Hill says he’s suing in part … Continue reading →
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