CRL in the News
Last week, the Maine House voted on party lines to pass LD 103, which would direct the Department of Education to conduct a review of for-profit colleges and universities to determine whether adequate educational standards are being met. If the for-profit college is not meeting the standards, the state would be authorized to revoke the degree-granting authority of the college.
WASHINGTON – Rep. Patrick McHenry has been representing western North Carolina in the U.S. House since he was 29 years old.
The 10th District Republican, now 43, has long been considered a rising star among House GOP lawmakers. He’s worked in leadership as Republicans’ chief deputy whip, and he’s often labeled as an aspiring Speaker of the House. He’s got a lifetime rating of 93 percent from the American Conservative Union.
Now, he’s got a new platform: adversary-in-chief to House Financial Services Chairwoman Maxine Waters.
Lawmakers have introduced a bill that would make it easier for student loan borrowers to cancel their debt in bankruptcy.
The measure, which is supported by 14 Democrats, one Republican and one independent, is dubbed the Student Borrower Bankruptcy Relief Act of 2019.
People at their most desperate are at their most vulnerable. In an economy that’s booming, the wealth gap should be shrinking, not widening. Climbing the economic ladder for the working poor, especially for blacks and Latinos, is being threatened by payday loan lenders eager to exploit the situation with the help of the Consumer Financial Protection Bureau (CFPB).
Bernie Sanders and Alexandria Ocasio-Cortez will reportedly introduce new legislation today capping credit card and consumer loan interest rates at 15 percent and also set penalties for companies that violate the law “including a forfeiture of all interest on the ill
WASHINGTON – U.S. Rep. John Katko has joined with some ideological foes – Elizabeth Warren and Jerrold Nadler – to help some of the 44 million Americans trying to repay $1.5 trillion in student loan debt.
The Democrats and Katko, R-Camillus, introduced a bill Thursday that would give borrowers who declare bankruptcy the option of having their student loan debt forgiven.
On Thursday, New York congresswoman Alexandria Ocasio-Cortez introduced her first official bill in the United State Congress: the Loan Shark Prevention Act, which would limit the interest rate on all consumer loans to 15 percent. (Over in the Senate, Vermont senator and Democratic 2020 hopeful Bernie Sanders unveiled an identical proposal.) Enacting the measure into law would have two primary effects: First, it would force most credit card companies to lower the rates their customers currently pay. Second, and most importantly, it would wipe the payday lending industry off the map.