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A federal judge in Rhode Island issued the second court ruling this week blocking the Trump administration’s push for a freeze on distributing federal government spending. The judge sided with 22 states who brought the lawsuit. In issuing the ruling, Judge John McConnell Jr. wrote, “The Court must act in these early stages of the…

A Republican congressman is making headlines after remarks he made about the school lunch program during a CNN interview on Tuesday, Jan. 28. NBC News reported that Rep. Rich McCormick, R-Ga., suggested “some children receiving free school lunches should work at McDonald’s instead.” Other left-leaning outlets, including The Daily Beast and USA Today, also covered…

President Donald Trump’s pick for treasury secretary, Scott Bessent, cleared his first confirmation hurdle from the Senate Finance Committee on Tuesday, Jan 21. On the same day, the agency he hopes to lead started taking “extraordinary measures” to keep from breaching the debt ceiling. According to the Treasury Department, the national debt stands at a…

More relief is on the way for some borrowers with large amounts of student loan debt. President Biden announced Monday, Jan. 13, that his administration is forgiving such debt for another 150,000 people. The White House said the debt forgiveness will go to 85,000 people who attended schools that “cheated and defrauded their students,” 61,000…

The Consumer Financial Protection Bureau filed a lawsuit against a mortgage lender owned by Warren Buffett’s Berkshire Hathaway. The watchdog alleges Vanderbilt Mortgage and Finance steered customers to buy manufactured homes they couldn’t afford. Vanderbilt Mortgage and Finance is a subsidiary of Clayton Homes, the nation’s largest builder of manufactured homes. Clayton Homes is a…

According to the credit rating agency TransUnion, the average American has about $6,300 in credit card debt. Now, a report shows that credit card defaults are rising as family budgets can’t keep up with expenses and the cost of living. According to the Financial Times, during the first nine months of 2024, lenders were forced…

The Biden administration has announced $4.28 billion in student loan forgiveness for 55,000 public service workers. This latest round of cancellations brings the total amount of debt relief approved by President Joe Biden to nearly $180 billion for approximately 4.9 million borrowers. The borrowers included in the announcement are part of the Public Service Loan…

For millions of student loan borrowers hoping for relief from Washington, things might get more complicated in the months ahead. The Biden administration’s one-year grace period from the Covid-era delay on repayments has expired. Banks could begin to hit debtors who haven’t begun paying back their student loans with a collection action. Financial experts say…

The forthcoming Department of Government Efficiency (DOGE) has a new target. Elon Musk is calling to “delete CFPB,” the Consumer Financial Protection Bureau. The agency has long been in conservatives’ crosshairs. Musk’s X post came after tech billionaire Marc Andreessen blasted the agency on Joe Rogan’s podcast. “It’s sort of Elizabeth Warren’s personal agency that she…

A bill introduced by Senate Republicans could be the first step in fulfilling one of President-elect Donald Trump’s campaign promises: dismantling the Department of Education. Sen. Mike Rounds, R-S.D., introduced the Returning Education to Our States Act, a bill that would eliminate the Education Department, redistribute its responsibilities to other federal agencies and send federal…
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