The Biden administration has announced that it will provide $39 billion in total student debt relief for 804,000 borrowers, its latest step since President Biden’s student loan forgiveness plan was struck down by the Supreme Court.
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released new enforcement actions taken against national banks, federal savings associations, and individuals currently and formerly affiliated with national banks and federal savings associations.
The Federal Reserve on Thursday announced that its new system for instant payments, the FedNow® Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.
WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today sued lease-to-own finance company Snap Finance for deceiving consumers, obscuring the terms of its financing agreements, and making false threats.
After hearing from a number of consumer and worker organizations concerned about the potential impacts of employer-driven debts, the CFPB launched a formal inquiry in June 2022 seeking data about, and worker experiences with, employer-driven debt. The CFPB sought comments from employers, researchers, and workers or other individuals with knowledge or personal experiences pertaining to employer-driven debt to better understand risks to consumers.
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