In a major win for the payday lending industry which gives quick loans at exorbitant interest rates, the Consumer Financial Protection Bureau is proposing changes to regulations that protect borrowers from being trapped in long-term debt. Ken Sweet, Associated Press’…
By PBS NewsHour
American corporations have elevated their debt loads to potentially risky levels, the Federal Reserve said Wednesday in a report that raised concerns about the financial system 10 years after the 2008 crisis erupted.
By Marcy Gordon, Associated Press
Eight years ago, Greece’s financial crisis threatened the value of the euro and led to the world’s largest bailout in history. As the country approaches the end of the bailout program next month, unemployment rates remain high and foreclosures loom…
By PBS NewsHour
The nation’s $1.4 trillion student debt burden doesn’t just fall on young graduates, it’s affecting older Americans, too. The number of people age 60 and older with student loans has quadrupled in the last 10 years. NewsHour Weekend’s Megan Thompson…
By Megan Thompson, Mori Rothman
By Sara Burnett, Associated Press
Illinois is on track to become the first U.S. state to have its credit rating downgraded to "junk" status, which would deepen its multibillion-dollar deficit and cost taxpayers more for years to come.
Puerto Rico essentially filed for bankruptcy this week in order to restructure more than $120 billion in debt and pension obligations. With the economy mired in a slump, the government is reducing public services, pensions are likely to be cut…
The burden of college debt will hang on our current students for years, but depriving them of the sense of pride and dignity they could develop by advancing their own lives could last a lifetime.
By Larisa Epatko
Sherry Riva thinks the key to lifting people out of poverty is helping them build savings and assets, such as a home or business.
By Mary Clare Jalonick, Associated Press
Help for debt-stricken Puerto Rico may be just weeks away as a strong House vote bolstered prospects in the Senate for a rescue package to ease the U.S. territory's crippling $70 billion debt.
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