Thousands of student-loan borrowers will soon be getting long-awaited debt relief. On Wednesday, federal Judge William Alsup granted final approval of a lawsuit — Sweet v. Cardona — filed in 2019 by student-loan borrowers who accused the Education Department at the time of failing to process their borrower defense to repayment applications. These are forms borrowers can file if they believe they were defrauded by the school they attended. If the department approves their forms, they would qualify to have their student loans discharged.
The Federal Trade Commission is exploring changes to the Business Opportunity Rule, seeking comment from the public on the rule’s effectiveness and a potential expansion to the rule to cover other types of money-making opportunities, such as coaching or mentoring programs, e-commerce opportunities, or investment opportunities.
In the aftermath of the 2007-2008 financial crisis, Congress established the Consumer Financial Protection Bureau (CFPB) to regulate consumer financial products and services and protect consumers from unfair, deceptive, or abusive acts or practices. One of the major ways we do this is through collecting, monitoring, and responding to consumer complaints.
The Department of Justice, in close coordination with the Department of Education, announced today a new process for handling cases in which individuals seek to discharge their federal student loans in bankruptcy.
Mortgage rates dropped sharply last week following a series of economic reports that indicated inflation may finally be easing.
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