CFPB rolls back restrictions on payday lenders

Jul 9, 2020
Lenders will not have to verify whether borrowers have the ability to pay back high-interest loans
About 12 million Americans take out payday loans every year, mostly to cover necessities like rent or utilities.
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In China, chasing debt after the COVID-19 lockdown

Jun 23, 2020
Delayed payments are a normal part of doing business in China. That works OK when the economy is bustling — but not anymore.
A recent survey showed 66% of Chinese firms had clients delay payments last year. Then the pandemic hit.
Charles Zhang/Marketplace

Fed says not to worry about debt right now. But we have to, eventually.

Apr 29, 2020
Politicians never want to tell voters about the need to balance the budget through tax hikes or spending cuts.
"This is not the time" to worry about debt, Jerome Powell, chair of the Federal Reserve, said at the Federal Open Market Committee meeting on Wednesday in Washington, D.C.
Federal Reserve via Getty Images

How a debt jubilee could help the U.S. avert economic depression

Apr 2, 2020
One economist believes hope of avoiding a COVID-19 economic depression lies in full forgiveness of personal debts.
Joe Raedle/Getty Images

A corner of the bond market is showing signs of stress

Mar 13, 2020
After this week's global market crash, the credit market is showing signs of stress.
Markets in Europe and futures in the U.S. are up Friday morning after a mess Thursday.
Bryan R. Smith/AFP via Getty Images

FICO changes could lower 40 million credit scores

Jan 23, 2020
The change in how FICO is measured could make it more expensive for millions of Americans to borrow.
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Her church asked her to pay someone else's debt. She was in.

Nov 19, 2019
The church has helped over 20 people pay off $100,000 in credit card debt. The secret lies in treating credit card debt as a community problem, rather than an individual one.
Caroline Butcher teaches a dance class at Eastern University in Pennsylvania.
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How debt may take a toll on mental health

Jun 5, 2019
Whether student loans or credit-card debt, indebtedness is likely to bring you down.
Debt collectors could be texting you soon.
Nattakorn Maneerat/iStock/Getty Images Plus

Morehouse gift highlights philanthropy ... and black student debt

May 20, 2019
Billionaire tech investor Robert Smith surprised Morehouse graduates by promising to pay off their student loans. Black students are more likely than white students to graduate with student debt, according to research.
Billionaire philanthropist Robert Smith pledged up to $40 million to pay off Morehouse College graduates' student loans at commencement on Sunday.
Morehouse College

These college students will soon discover what living with debt is like

Apr 26, 2019
The average borrower will owe about $30,000 on student loans at graduation, which may delay homebuying or saving for retirement.
Sabrina Hayes, a community college student, is applying for financial aid to transfer to Portland State University. She's a single mother of 5-year-old twins and has borrowed about $50,000 to attend college so far.
Mitchell Hartman/Marketplace