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March

15
2023
Industry News

Education Department Announces Use of Secret Shopping to Protect Students, Crack Down on Institutions that Lure Students with Lies

The U.S. Department of Education (Department) announced today that the Enforcement Office of Federal Student Aid (FSA) will use secret shoppers as an additional tool to monitor postsecondary institutions’ compliance with the laws and regulations governing their participation in the federal student aid programs.

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March

15
2023
Industry News

Financial Institutions are Required to Meet Contractual Obligations with Bridge Banks

In recent days, the FDIC has established two bridge banks, Silicon Valley Bridge Bank, N.A. and Signature Bridge Bank, N.A., to assume the deposits and obligations of two failing banks. All contracts entered into with banks before they failed, and their counterparties were transferred into the bridge bank by the FDIC as receiver.

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March

15
2023
Industry News

CFPB Launches Inquiry Into the Business Practices of Data Brokers

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) has launched an inquiry into companies that track and collect information on people’s personal lives. In issuing this new Request for Information, the CFPB wants to understand the full scope and breadth of data brokers and their business practices, their impact on the daily lives of consumers, and whether they are all playing by the same rules

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March

14
2023
Strategy

Debt collectors starting to become more lenient on unpaid medical bills

PHOENIX (3TV/CBS 5) - Unexpected, large medical bills are the number one reason why some people are forced to file for bankruptcy. But it turns out some collection agencies are becoming more lenient when it comes to asking you to pay a medical debt.

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March

14
2023
Industry News

Silicon Valley Bank, Signature Bank collapses explained, live updates on new developments

It's been a tumultuous few days for banks since the now-shuttered Silicon Valley Bank announced Wednesday it had suffered a $1.8 billion after-tax loss and urgently needed to raise more capital to quell depositors' concerns.

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