Days before student borrowers across the nation resume student loan payments after a more than two-year pause prompted by the COVID-19 pandemic, a diverse group of 20 cities and counties representing more than 1.2 million people with nearly $50 billion in student loan debt sent a letter on September 21 to President Biden. Although the letter began by applauding his leadership in pursuing debt relief, it also urged even more persistent and aggressive actions.
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Over the course of the entire weekend, Maryland dispensaries earned $10.4 million for adult-use and medical sales, compared to $3.9 million in 2022 when only medical use was permitted. From July 1 to July 7, Maryland dispensaries grossed $20.9 million in medical and adult-use cannabis sales, according to an MCA report.
On August 28, the Consumer Financial Protection Bureau (CFPB) announced a $2.7 billion judgment against major members of this industry. An order now awaiting federal court approval would also ban these firms from telemarketing credit repair services for 10 years for illegal actions dating back as far as 2016.
Since its creation, , the Consumer Financial Protection Bureau (CFPB) has honored its mission by returning a cumulative total of $17.5 billion to 200 million consumers who have been harmed by violations of federal consumer financial protection law. Its Victim Relief Fund, administers the return of hard-earned monies to consumers such as cancelled debts, reduced principal, and other illegal transactions.
More importantly, these developments signal one of the very few times that Black student loan borrowers stand to become the initiative’s biggest beneficiaries. Recent data analyses underscore the extra student debt borne by Black America.
Some of the accusations are reminiscent of the Wells Fargo debacle from a decade ago, which involved the creation of millions of unauthorized consumer bank accounts.…
Cash flow is the lifeblood of any business, no matter the industry or company size. However, as economic headwinds and supply chain woes challenge the bottom line for both Main Street and Wall Street businesses alike, owners are facing significant financial frictions hindering business growth. Unfortunately, small and mid-sized businesses (SMBs) are especially constrained financially, as many SMBs in America remain underbanked or unbanked while inflationary pressures continue to mount and impede profitability.
Instead of a final resolution on America’s borrowing ability, the enacted bill provides a two-year window for the Treasury Department to borrow – as needed – funds to pay the nation’s already more than $31 trillion of debt. When January 2025 arrives, a new session of Congress will face the deferred problem. Until then, according to the Congressional Budget Office, cutbacks on discretionary spending would result in a drop in projected budget deficits of about $4.8 trillion over the next decade, and a savings of $0.5 trillion in interest.
The IRS is exploring a direct e-file system for tax returns. However, some believe the system would bring undue harm to historically marginalized communities – including Black and low-income taxpayers – based on recent reports concerning IRS enforcement actions.
Approximately 3 million temporary and contract workers are hired each year in the U.S., and managers have long relied on temps to keep their businesses humming. How can they make the most of this layer of cover and support?