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More Consumers Falling Behind on Loan Payments

Account Recovery

Those debts include credit cards, auto loans, personal loans, mortgages, and student loans. Nearly 30% of consumers living in the 100 largest metropolitan areas of the United States were behind on at least one debt payment between July and September of last year, according to data released last week by LendingTree.

Loans 147
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Millions Still Not Making Payments on Student Loans

Account Recovery

Nearly nine million people who have student loans have not yet made a payment after the moratorium on student loan payments ended three months ago, according to a published report that cited information from the Education Department.

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Ed. Dept. Cancels $5B More in Unpaid Student Loans

Account Recovery

billion of unpaid student loans for 73,000 individuals as a result of adjustments to the income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF) programs. billion of student loans for 3.7 The federal government on Friday announced it had approved the forgiveness of $4.9 million individuals.

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Judge Dismisses Suit Challenging Student Loan Forgiveness Plan

Account Recovery

A District Court judge in Michigan has dismissed a lawsuit that challenged an initiative from the federal government seeking to forgive $39 million of student loan debt, determining the plaintiffs lacked standing to sue. Well, that didn’t take very long.

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How to Attract Multiple Generations to Open New Accounts and Apply for Loans

The experiences of every generation are characterized by their behaviors involving finances. Understanding these attitudes and using them to inform marketing messages enables community banks, regional banks and credit unions to better serve their customers.

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Ed. Department Discharges All Westwood College Loans

Account Recovery

billion of student loans for all of the 79,000 individuals who attended Westwood College between 2002 and 2015, ruling that the school “engaged in widespread misrepresentations about the value of its credentials for attendees’ and graduates’ employment prospects.”

Loans 246
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The Battle for Student Loan Payments Continues

Account Recovery

A petition is being organized — and so far 35,000 individuals have signed it — asking the Department of Education to cancel their student loan debts. Issues with repayment and other concerns have led 40,000 individuals to go on a “student debt strike,” according to a published report.

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Exploring the Overlap: Cost Optimization and Digital Transformation

Speaker: Alex Jiménez, Managing Principal, Financial Service Consulting for EPAM

Many US banks are bracing for increased defaults and lower demand for mortgages and other loans as interest rates have increased. Global economic conditions are soft at best. From a budget standpoint, US banks are feeling the pinch. The largest banks have increased reserves to protect against deteriorating economic conditions.