GOP Lawmakers Move to Block Biden's Helping Hand to Student Loan Borrowers

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Julia Conley | Common Dreams
"We condemn this move to block a plan that will provide significant financial relief to low-income borrowers and communities of color," said Herbin. "SAVE provides hope for borrowers as the administration continues to fight alongside advocacy groups to find other ways to achieve broad-based student loan relief. We continue to support President Biden in his quest to make our educational...

The Fight Ahead Over Earned Wage Access

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Kate Fitzgerald | American Banker
The latest research from CRL suggests that for consumers who repeatedly pay fees and "tips" for expedited EWA funds through popular third-party EWA service providers like MoneyLion, Earnin and Dave, it amounts to a digital payday loan. In a survey CRL conducted in May among 300 users of direct-to-consumer EWA services, 39% said they feel like they must keep on...

March on Washington: Economic Justice Remains Dream

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Charlene Crowell | Precinct Reporter Group
While the 1963 March on Washington brought more than 200,000 Americans to the nation’s capital in a historic call for jobs and economic justice, an event billed as a ‘continuation’ – not a commemoration will take place August 26 at the Lincoln Memorial. Co-sponsored by the National Action Network and the Drum Major Institute, organizers will focus on continuing the...

Earned Wage Access: Early Payday or Payday Loan?

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Kate Fitzgerald | American Banker
Banks that are starting to work with EWA providers to streamline connections for their commercial customers should pay close attention to what's happening in this tug-of-war over whether EWA will be considered a loan or not—according to Andrew Kushner, who is policy counsel of the nonprofit Center for Responsible Lending, which analyzes financial practices and works with the industry and...