Congress May Close Billion-Dollar Loan Loophole
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he secretary of education called on senior members of Congress yesterday to close a loophole that has allowed student loan companies to collect more than a billion dollars in excess federal
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The Fed's proposals to halt deceptive home lending could turn the Congress loose.
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Republicans in Congress want to significantly tighten regulations to keep people who declare bankruptcy from ducking debts they should be able to settle, but Democrats and physicians' groups argue the move would penalize Americans who go broke because of huge medical bills they can't pay.
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A provision buried deep in the defense authorization bill passed by Congress this week could release hundreds of millions of dollars now beyond the reach of victims of terrorist attacks struggling to collect damages from foreign governments. But experts say it also may undermine one of the...
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A key House lawmaker said yesterday that Congress needs to consider making companies that manage 401(k) plans give clearer, more complete information on fees, which can drain thousands of dollars from a worker's retirement savings.
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WASHINGTON -- Spurred by the crisis in the home mortgage industry, Congress is readying a slew of proposals aimed at changing some lending practices and helping financially distressed homeowners hang onto their homes.
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The government is paying hundreds of millions of dollars in unnecessary subsidies to student loan companies even though the White House has the authority to cut them off.
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The Paris Club of rich lending nations is to discuss a proposed debt freeze for tsunami-affected countries.
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With underfunded pensions threatening to become the U.S. taxpayer's next multibillion-dollar headache, lawmakers are working on a long-term fix for struggling traditional retirement plans.
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Congress is again adding hundreds of millions of new dollars to the Pell Grant program for low-income college students, but it's also allowing a procedural change that would cut &#151; and in some cases eliminate &#151; grant eligibility for as many as 1 million students.
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A close call in Congress for America's workers and employers alike.
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Charging people steep rates to borrow may not be so heinous.
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Illegal immigrants could fall prey to loan sharks and other unscrupulous lenders if they have to pay $5,000 in fines and thousands more in fees and back taxes as required under the immigration reform measure now before Congress, some advocates are warning.
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The U.S. House of Representatives on  Thursday voted to increase the federal credit limit by $800  billion to $8.184 trillion, a move that will allow the measure  to be sent to President Bush for signing into law.
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LAST WEEK, congressional Republicans proposed legislation to close loopholes in student loan laws that -- as we said on Sept. 10 -- have allowed lending institutions to make extraordinary, unwarranted profits
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A federal regulator yesterday suggested that a measure that would allow Fannie Mae and Freddie Mac to take on jumbo mortgages could divert loan money from less expensive housing.
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At a Senate Banking Committee hearing yesterday, legislators and consumer advocates prodded federal banking regulators to move more quickly to put restrictions on non-traditional mortgage lending, because, they said, the new kinds of mortgages may place borrowers and lenders at financial risk.