An article appearing in American Banker on February 7, 2023 by Penny Crossman quotes Lauren Saunders in coverage of the Federal Deposit Insurance Corporation’s (FDIC) lowering Transportation Alliance Bank’s Community Reinvestment Act rating from “satisfactory” to “needs to improve,” based on the behavior of one of its fintech lending partners. “TAB Bank has been disserving…
An article appearing in TIME on March 8, 2023 by Solcyre Burga advises borrowers that before they make any decisions about possibly changing their payment plan or applying for a forbearance or deferment they first research their options and reach out to their loan servicer, quoting Kyra Taylor. Information about the type of loan you…
Read More about TIME: "What to Do If You Can't Afford to Pay Back Your Student Loans"
An article appearing in CNN on March 3, 2023 answers the questions: What is the CFPB? How does its work affect your wallet? And why is its future potentially at risk? It [the CFPB] has completely changed the consumer financial marketplace. Overall it has had a tremendous impact on making it more fair and transparent,”…
Read More about CNN: "CFPB: What it does and why its future is in question"
An article appearing in USA Today on March 7, 2023 by Alia Wong and Chris Quintana covers Democratic lawmakers’ support for President Joe Biden’s student loan forgiveness plan and quotes Abby Shafroth. A return to loan payments, absent avenues for relief, could throw many borrowers into financial disarray. “This is a real disaster waiting for us.”…
Worker and consumer rights advocates from California and across the country call on the California attorney regulation agency to act quickly to clarify that it is unethical for attorneys to encourage corporate clients to include illegal or unenforceable terms in fine-print contracts. On Friday, a coalition of worker and consumer advocates urged the California attorney…
Read More about Advocates Urge COPRAC to Move Swiftly on Critical Ethics Opinion
On February 22, the Supreme Court in Bartenwerfer v. Buckley, 2023 WL 2144417 (U.S. Feb. 22, 2023), held that a debt incurred by business partners and obtained by fraud may not be discharged in bankruptcy even when the debtor is an innocent partner who did not commit the fraud. One can expect bankruptcy creditors to try…
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