Credit Reporting Agencies to Remove Most Medical Debts From Consumers’ Credit Reports
July 1, 2022. Equifax, Experian, and Transunion are overhauling how they report medical accounts in collection, erasing most medical debts from consumers’ credit reports.
Biden Administration Canceling $6 Billion for Defrauded Student Loan Borrowers
June 22, 2022. The government is canceling billions in federal student loans for around 200,000 defrauded students.
Fannie Mae, Freddie Mac Announce New Credit Reporting System to Advance Housing Equality
June 8, 2022. Fannie Mae and Freddie Mac are making changes to help renters from disadvantaged communities become homeowners.
Biden Administration Cancels $5.8 Billion for Corinthian Colleges Students
June 1, 2022. The government is wiping out billions in federal student loan debt for former Corinthian students.
Creditors Using Complicated Algorithms Must Explain Credit Denials
May 26, 2022. Creditors must give consumers an explanation when denying credit—they can’t just blame a computer algorithm.
Millions Get Closer to Student Loan Forgiveness With a One-Time Account Adjustment
April 19, 2022. The U.S. Department of Education will adjust borrowers’ accounts to retroactively give payment credits toward two loan-forgiveness programs.
Medical Debt to Play a Reduced Role in Getting a Government-Backed Mortgage
April 11, 2022. If you apply for a government-backed mortgage, your medical debt will now have less effect (or no effect) on your chances of getting the loan.
Biden Administration Extends Student Loan Payment Suspension Through August 31, 2022
April 6, 2022. The payment suspension for most federal student loans will now last through August 31, 2022.
New Appeals Process for Public Service Loan Forgiveness Program
April 2022. Beginning in April 2022, borrowers may request a reconsideration of Public Service Loan Forgiveness qualifying employment or payment determinations.
New Credit Reporting Rules for Veterans’ Medical Debt
March 4, 2022. The VA will stop reporting most veterans' medical debt to the credit reporting bureaus.
Biden Administration Cancels $415 Million for Defrauded DeVry University Students
February 16, 2022. The government is canceling millions in federal student loans for defrauded borrowers who attended DeVry University and other for-profit schools.
Equifax Data Breach Settlement Benefits to Be Distributed
January 24, 2022. Equifax will finally begin distributing benefits to settle claims over its 2017 data breach.
Navient Canceling $1.7 Billion in Private Student Loans
January 13, 2022. A settlement with one of the nation’s largest student loan servicers includes $1.7 billion in debt cancellation and $95 million in restitution for borrowers.
New Debt Settlement Law in California
January 1, 2022. California’s Fair Debt Settlement Practices Act protects consumers who go to debt settlement companies for help.
CFPB Report Describes Credit Bureau Failures
January 2022. The three major credit reporting agencies often fail to respond to issues concerning consumers’ credit reports, says CFPB.