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Victim Spreads Word On Payday Loan Scam, Don?t Be Next - Abc News

Senate Republicans Block Student Loan Bill - ABC News

He said the funds would be available in a half-hour. Twenty minutes later, he called back and said my Social Security number was red-flagged and the money couldnt be sent. He said he could remove the red flag for $500 a figure that their lawyer later lowered to $203. At that point, I said I wanted my $195 back, but then they threatened to sue me for the balance of the loan -- a loan I never received. I realize now this was a scam, and I have closed my bank account. They probably have done this to many other unsuspecting victims who are just trying to make ends meet. - Kevin Whitney, Philadelphia, Penn. Got a consumer problem? The ABC News Fixer may be able to help.
Puedes ver la version sin traducir en http://abcnews.go.com/Blotter/victim-spreads-word-payday-loan-scam-dont/story?id=24076648

Elizabeth Warren: In Their Vote Against Student Loan Reform, the GOP Has Sided With the Billionaires | The Nation

Warren: For-profit colleges suck 25% student federal loans

Student loan debt now totals more than $1.2 trillion. Senator Elizabeth Warren (D-Mass.), discusses the student loan crisis as she prepares an upcoming bill proposal which would refinance current loans and bring down monthly payments. "Student loan debt is crushing individuals, and a drag on the economy," she says.

The $1.2 trillion student loan problem is easy to fix if Congress has the will to do it, Sen. Elizabeth Warren, D-Mass., told CNBC Tuesday. "Bring down the interest rate on those student loans, help more people get current on their loans, get them back into payments that they can manage, and let's get this economy rolling forward," the senator said in an interview with " Street Signs ." On Wednesday, the Senate is scheduled to vote on Warren's bill, which would allow borrowers with outstanding student loans to refinance their debt at the same rate that current recipients get. Pete Marovich | Bloomberg | Getty Images Senator Elizabeth Warren, a Democrat from Massachusetts. Read More Student loan debt dragging on young households Currently, undergraduates pay 3.86 percent on their debt and graduate students pay 5.41 percent. Those rates came about as part of a bipartisan deal reached last year that ties interest rates to the financial markets. "We have $1.2 trillion in outstanding student loan debt, and what we know about that debt that's outstanding is that it is crushing individuals, and it is now acting as a drag on the economy," Warren said.
Puedes ver la version sin traducir en http://www.cnbc.com/id/101748061

Senate Republicans block consideration of student loan bill - CBS News

McConnell referred to the bill as a "tax increase bill styled as a student loan bill," and encouraged Republicans to filibuster to stop it. 58 senators, 3 of them Republicans, voted for the bill while only 38 voted against it, but it was still not enough to overcome the filibuster. An outraged Elizabeth Warren told Chris Hayes last night that the choice should have been simple. Do you stand with the billionaires, protecting every single tax break that they get? Every loophole, every subsidy? Or do you stand with the students? The people who went out there, played by the rules and tried to get an education and are trying to start their lives," she demanded. Now, McConnell better watch his seat: Warren says shell be going to Kentucky to campaign for Alison Lundergan Grimes, McConnell's Democratic opponent in this falls election, who Warren said has been in favor of the student loan bill and would be likely to bring about the positive change that McConnell is trying to resist. Hannah Harris Green
Puedes ver la version sin traducir en http://www.thenation.com/blog/180215/elizabeth-warren-their-vote-against-student-loan-reform-gop-has-sided-billionaires

TRLPC: Loan investors wary of rising Libor | Reuters

The bill, authored by Sen. Elizabeth Warren, D-Mass., failed to clear a procedural hurdle that would have brought it up for consideration in the face of Republican opposition. It went down by a vote of 56 to 38. It would have affected an estimated 40 million people begin paying a lower interest rate on their loans, but never would have won GOP support because of the way it was paid for: a minimum tax of 30 percent on Americans earning between $1 and $2 million each year. "Today is a really good day for billionaires. For the 40 million people dealing with student loan debt it wasn't such a good day," Warren said after the vote. "This raises the fundamental question, who does Washington work for? Does it work for those who can hire armies of lobbyists to make sure that every single loophole in the tax code is protected for them? Or does it work for young people who are trying to get started in life?" But Republicans called the bill a "political stunt" that would do nothing to help future students.
Puedes ver la version sin traducir en http://www.cbsnews.com/news/senate-republicans-block-consideration-of-student-loan-bill/

Student loan problem an easy fix: Sen. Warren

Senator Elizabeth Warren, a Democrat from Massachusetts. "They want an issue to campaign on to save their own hides this November." Student loan debt has topped $1 trillion and emerged as a drag on the economy and on middle-class families across the country, making it a ripe target for politicians ahead of midterm elections where Democrats risk losing their Senate majority. Wednesday's vote followed two days where President Barack Obama highlighted the issue from the White House, announcing executive action to let more borrowers to cap their monthly payments at 10 percent of their income and answering questions about the issue on the social networking site Tumblr. "There are too many politicians in Washington who don't have the right priorities," Obama told high school graduates in Worcester, Massachusetts, as he chided Republicans for rejecting the student loan bill. "We need to straighten them out. And maybe they forgot where they came from and who invested in them along the way." The Obama administration said Warren's bill could have helped some 25 million borrowers save $2,000 each over the lifetime of their loans. It would have allowed people with older loans at higher interest rates refinance to rates below 4 percent offered today under a deal reached a year ago in Congress. Three Republicans joined all Democrats in voting to proceed to debate on the bill: Susan Collins of Maine, Bob Corker of Tennessee and Lisa Murkowski of Alaska. Some 40 million Americans have outstanding student loan debt totaling $1.2 trillion, making it the second-largest form of consumer debt, second only to mortgages, according to Warren's office. People 60 and older account for some $43 billion of outstanding student loan debt. Related Topics: U.S.
Puedes ver la version sin traducir en http://abcnews.go.com/Politics/wireStory/senate-democrats-push-student-loan-bill-24083344

PHOTO: In this stock image, a person is seen withdrawing cash from an ATM machine. Libor rate of 23bp on June 5 and Libor floors of 100bp. "Most of the excess return generated today in the U.S. (loan) market is from the Libor floor. As you erode that, it will deliver lower returns. Any rise in Libor reduces excess spread by the corresponding amount," a fund manager said. Lower CLO equity payouts are another headwind for CLO managers to deal with and could hinder CLO issuance, along with federal risk retention rules and Volcker regulations. The link between higher Libor rates and returns may not be quite as straightforward. Wider spread margins could increase loan cash flows even if Libor goes up, which could keep CLO equity distributions at the same level, sources said. CLO managers could also call for Libor floors to be removed, the pricing of Libor floors to be adjusted or for loan margins to be increased to offset any impact.
Puedes ver la version sin traducir en http://www.reuters.com/article/2014/06/12/us-rising-libor-idUSKBN0EN1LM20140612?feedType=RSS&virtualBrandChannel=11563

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