News Topic: Credit Policy & Regulation

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Education Department Secretary Cardona today announced a remarkably bold, yet sadly incomplete, emergency suspension of regulatory barriers to the Public Service Loan Forgiveness program. ... Read full article

Past  Credit Slips  guest blogger , Jim Hawkins from the University of Houston , and his student, Tiffany Penner, alerted me to their recent publication in the  Emory Law Journal  entitled, "Advertising Injustices: Marketing Race and Credit in ... Read full article

On May 4, the CFPB issued a report sharing information the agency had gathered about mortgage forbearances and delinquencies. One notable takeaway is that Black and Brown homeowners, as well as low-income homeowners, are very prevalent among those in ... Read full article

Following-up on my prior post , let’s talk more about what’s at stake in this little legislative kerfuffle in the Hawkeye state, as well as how consumer advocates should seize on this moment in a different way.   ... Read full article

Greetings, Slipsters ! I’m thrilled to be here guest blogging, and I thank the editors for having me. So with that, let me get started… Usury, preemption, and pandemic fitness are all colliding here in Iowa.   ... Read full article

In the Spring I am teaching a research and writing seminar called Advanced Commercial Law and Contracts. Credit Slips readers have been important resources for project ideas in the past, and I'd appreciate hearing what you have seen out in the world ... Read full article

Student loan relief provisions required by the CARES Act expire on September 30. Those protections included 1) for all federal direct loans: zero interest and automatic payment forbearance, 2) credit towards IDR and PSLF forgiveness for the 6 months ... Read full article

My coauthor Ed Balleisen has co-founded a program on consumer lending of interest to Credit Slips readers. Its initial data collection is particularly useful in documenting the North Carolina experience and its implications for other states. ... Read full article

$10 billion of CARES Act funds are going to the banks, especially megabanks, in fees for making “small” business PPP loans. The fees, paid by the Small Business Administration, i.e. Treasury, range from 1% for loans above $2 million to 5% for loans below ... Read full article

The success rate for Public Service Loan Forgiveness applicants has doubled. From 1% to 2%. Thinking they have completed their 10 years of payments, 140,000 student loan borrowers had applied for cancellation through February 29, and about 3,000 had ... Read full article

An 11th Circuit panel ruled last week that student loan borrowers may assert state law misrepresentation claims against a student loan servicer that falsely told them their FFEL loans qualified for Public Service Loan Forgiveness. ... Read full article

Short term (payday) loans and high interest consumer installment loans continue to deplete low income households of micro dollars and their communities of macro dollars. Although the CFPB seems intent on supporting the depletions, a good number of states ... Read full article

I confess that, on its face, this did not strike me as the most exciting topic to read about (and that comes from someone who writes about the incredibly obscure world of sovereign debt contracts).  After all, who even knows what EBITDA definitions are?  ... Read full article

A major issue in consumer finance regulation in mid-20th century was what counted as “credit” and was therefore subject to state usury laws and (after 1968) to the federal Truth in Lending Act. Many states had a time-price differential doctrine that held ... Read full article

Democrats’ policy proposals have sparked a vital and overdue debate on our system to pay for post-secondary education, and how that system burdens and redistributes income. The existing system combines a small share of taxpayer funding (via the Pell ... Read full article

An unsustainable run-up in consumer housing debt and other debt was a fundamental structural cause of the 2008 global financial c ... Read full article

Historian Ed Balleisen and I have just posted a paper of interest to Credit Slips readers who are interested in consumer protection, financial crises, and inputs into post-crisis policymaking more generally. I will let the abstract speak for itself: ... Read full article