A “faulty” transfer of student loan accounts from Nelnet to Mohela led to “millions of consumer credit reporting errors,” lawmakers say in a new letter.
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Some shoppers prefer retail store credit cards over buy now, pay later loans. Either way, here’s what you need to consider.
The Department of Education is once again shaking things up for student loan borrowers by reopening enrollment for two programs suspended last year to favor President Biden’s program tied up in court.
Their new quarterly projections suggest that consumers may not enjoy much lower rates next year for mortgages, auto loans, credit cards and other forms of borrowing.
ATLANTA, Dec. 18, 2024 /PRNewswire/ — Groundfloor Finance, Inc., a pioneer in alternative investing, is introducing the issuance of the first-ever deferred pay residential transition loan (RTL) bond. This inaugural
President-elect Donald Trump abruptly rejected a bipartisan plan Wednesday to prevent a Christmastime government shutdown, instead telling House Speaker Mike Johnson and Republicans to essentially renegotiate days before a deadline when federal funding runs out.Trump’s sudden entrance into the debate and new demands sent Congress spiraling as lawmakers are trying to wrap up work and head home for the holidays. It leaves Johnson scrambling to engineer a new plan before Friday’s deadline to keep government open.Republicans must GET SMART and TOUGH, Trump and Vice President-elect JD Vance said in a statement.The president-elect made an almost unrealistic proposal that combined the some continuation of government funds along with a much more controversial provision to raise the nation’s debt limit something his own party routinely rejects. Anything else is a betrayal of our country, they wrote.Democrats decried the GOP revolt over the stopgap measure, which would have also provided some $100 billion in disaster aid to states hammered by Hurricanes Helene and Milton and other natural disasters.House Republicans have been ordered to shut down the government, said House Democratic Leader Hakeem Jeffries.Jeffries said an agreement is an agreement, and by backing out of it “the House Republicans will now own any harm that is visited upon the American people.”Already, the massive 1,500-page bill was on the verge of collapse, as hard-right conservatives rejected the increased spending. They were egged on by Trumps billionaire ally Elon Musk, who rejected the plan almost as soon as it was released.Rank-and-file lawmakers complained about the extras, which included their first pay raises in more than a decade a shock after one of the most unproductive, chaotic sessions in modern times.Even the addition of much-needed disaster aid, some $100.4 billion in the aftermath of hurricanes and other natural calamities that ravaged states this year, plus $10 billion in economic assistance for farmers failed to win over the budget-slashing GOP. A number of Republicans had been waiting for Trump to signal whether they should vote yes or no.This should not pass, Musk posted on his social media site X in the wee hours of Wednesday morning.One lawmaker said office phone lines were flooded with calls from constituentsMy phone was ringing off the hook, said Rep. Andy Barr, R-Ky. The people who elected us are listening to Elon Musk.The outcome comes as no surprise for Johnson, who, like other Republican House speakers before him, has been unable to persuade his majority to go along with the routine needs of federal government operations, which they would prefer to slash.He met behind closed doors late into the night at the Capitol with GOP lawmakers trying to figure out a way out of the bind. Vance joined them until nearly 10 p.m., his young son in pajamas in tow.”We had a productive conversation, Vance said as he and his son exited the speakers office, declining repeated questions about the details.Were in the middle of these negotiations, but I think well be able to solve some problems here.It all shows just how hard it will be for Republicans next year, as they seize control of the House, Senate and White House, to unify and lead the nation. And it underscores how much Johnson and the GOP leaders must depend on Trumps blessing to see any legislative package over the finish line. Musk, who is heading the his new Department of Government Efficiency was leading the charge against it, warned that Any member of the House or Senate who votes for this outrageous spending bill deserves to be voted out in 2 years!It’s not an idle threat coming from Musk, the world’s richest man, who helped bankroll Trump’s victory and can easily use his America PAC to make or break political careers.Democratic Rep. Jamie Raskin of Maryland said this is the problem with an oligarchy a handful of wealthy people run everything and everyone is supposed to live in fear of them.”Senators from both parties were watching from across the Capitol with dismay.Is this going to be the norm? Is this going to be how we operate? said Sen. Josh Hawley, R-Mo., putting the blame on Johnson.Democrats, who negotiated the final product with Johnson and Senate GOP leadership, will be expected to provide enough support to help ensure passage, as is often the case on big, bipartisan bills. “Republicans need to stop playing politics,” said White House press secretary Karine Jean-Pierre.However, Trump’s new demands on the debt limit pose a daunting test for Johnson, who has worked hard to stay close to the president-elect even texting with Musk and DOGE co-chair Vivek Ramaswamy only to have him turn against his hard-fought plan.Trump posted later that he was insisting on raising the debt ceiling: I will fight till the end.The nation’s debt limit expires 2025 and Trump appears to want the issue off the table before he returns to the White House, a reasonable idea but one that typically is tough to negotiate.The last House speaker, Kevin McCarthy, worked for months with President Joe Biden to raise the debt limit. Even though they struck a bipartisan deal that cut spending in exchange for additional borrowing capacity, House Republicans said it didnt go far enough, and it ended up costing McCarthy his job.Now, Trump is looking for Johnson to pass a debt ceiling extension some 48 hours before a partial government shutdown.Meanwhile, the bipartisan package that Trump rejected extended existing government programs and services at their current operating levels for a few more months, through March 14, 2025.The stopgap measure is needed because Congress has failed to pass its annual appropriations bills to fund all the various agencies in the federal government, from the Pentagon to health, welfare, transportation and other routine domestic services.But the inches-thick bill goes beyond routine funding and tacks on several other measures, including federal funding to rebuild Baltimores Francis Scott Key Bridge, which collapsed when struck by a cargo ship. Another provision would transfer the land that is the site of the old RFK Stadium from the federal government to the District of Columbia, which could potentially lead to a new stadium for the NFL’s Washington Commanders.Rep. Anna Paulina Luna, R-Fla., called it essentially a junk sandwich, using a swear word.And then there’s the pay raise.The bill would have turned off a pay-freeze provision and that could allow a maximum adjustment of 3.8% or $6,600 in 2025, bringing lawmakers’ annual pay to $180,600, according to a Congressional Research Service report. Members of Congress last got a raise in 2009.___Associated Press writers Mary Clare Jalonick, Matt Brown and Farnoush Amiri contributed to this report.
The Fed has cut its benchmark interest rate by 1% since September, making borrowing cheaper for credit cards, loans and auto financing.
The U.S. Commerce Departments efforts to curb Chinas and Russias access to American-made advanced computer chips have been inadequate and will need more funding to stymie their ability to manufacture advanced weapons
From completing its $10 million Series B equity financing to being awarded the 2024 AI Breakthrough Award for “Best AI Governance Platform” and achieving inclusion on Inc.’s Best in Business
The Federal Reserves third interest rate cut of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses
Criticizing the continuing resolution’s “Christmas tree ornaments,” Sen. Tommy Tuberville called the short-term funding extension “absolutely ridiculous” and a “disaster.”
US healthcare financing impaired by ‘very inefficient public-private partnership’: .. News video on One News Page on Wednesday, 18 December 2024