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NEW YORK | AP Exclusive: Gov’t questions unfair student loan practices

NEW YORK — One of the nation’s largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into higher-cost repayment plans. That’s the finding of a Department of Education audit of practices at Navient Corp., the nation’s third-largest student loan servicing company. The conclusions of the 2017 audit, … Continue reading NEW YORK | AP Exclusive: Gov’t questions unfair student loan practices

NEW YORK | AP Exclusive: Audit points to deceptive practices by Navient

NEW YORK— One of the nation’s largest student loan servicing companies may have driven tens of thousands of borrowers struggling with their debts into higher-cost repayment plans. That’s the finding of a Department of Education audit of practices at Navient Corp., the nation’s third-largest student loan servicing company. The conclusions of the 2017 audit, which … Continue reading NEW YORK | AP Exclusive: Audit points to deceptive practices by Navient

NEW YORK | Banks could face tighter scrutiny under Rep. Maxine Waters

NEW YORK — Come January, the banking industry is going to be on Rep. Maxine Waters’ time. With Democrats taking control of the House of Representatives, the California representative is expected to become chairwoman of the powerful House Financial Services Committee, which oversees the nation’s banking system and its regulators. Waters is no friend to … Continue reading NEW YORK | Banks could face tighter scrutiny under Rep. Maxine Waters

NEW YORK | Watchdog looks to rescind crucial part of payday loan rules

NEW YORK — The Consumer Financial Protection Bureau will revisit a crucial part of its year-old payday lending industry regulations, the agency announced Friday, a move that will likely make it more difficult for the bureau to protect consumers from potential abuses, if changed. The CFPB finalized rules last year that would, among other changes, … Continue reading NEW YORK | Watchdog looks to rescind crucial part of payday loan rules

NEW YORK | American Express profits jump 22 percent, beating forecasts

NEW YORK— American Express said its third quarter profits jumped by 22 percent from a year earlier, as the credit card giant benefited from a lower tax rate and increased spending on the company’s credit cards. The New York-based company said it earned a profit of $1.65 billion, or $1.88 a share, which is up … Continue reading NEW YORK | American Express profits jump 22 percent, beating forecasts

NEW YORK | Citigroup profit rises to $4.6 billion, beats Street views

NEW YORK — Citigroup said Friday that its third-quarter profits rose 12 percent from a year earlier, as the banking conglomerate was able to cut expenses and benefited from lower taxes. The New York-based bank earned $4.62 billion in the third quarter, up from $4.13 billion a year ago. Citi earned a profit of $1.74 … Continue reading NEW YORK | Citigroup profit rises to $4.6 billion, beats Street views

NEW YORK | Teachers union sues student loan servicer Navient

NEW YORK — The American Federation of Teachers filed a lawsuit Wednesday against Navient, one of the country’s largest student loan servicing companies, alleging that it failed to guide eligible borrowers through a critical student loan forgiveness program. At the center of the lawsuit, brought by nine teachers financially backed by the country’s biggest teachers … Continue reading NEW YORK | Teachers union sues student loan servicer Navient