Eric huang

Key Takeaways. Airlines are facing scrutiny from lawmakers. A new Senate panel report found that airlines generate billions of dollars in ‘junk fees’ for seats and baggage. The Senate Permanent Subcommittee on Investigations said Tuesday it will hold a hearing next week on these fees and call airline executives to testify. Five airlines cited in […]

The Consumer Financial Protection Bureau (CFPB) has issued a rule that caps overdraft fees at $5 in most cases, a move that is part of the Biden administration’s broader effort to reduce what it terms ‘junk fees.’ This new regulation is expected to save households that pay overdraft fees an average of $225 a year,

President-elect Donald Trump has chosen Republican lawyer Andrew Ferguson as his nominee to lead the Federal Trade Commission, potentially succeeding Lina Khan. Khan has been known for her strict stance on corporate mergers and her crackdown on Big Tech during her tenure at the FTC. Ferguson, who may take a more lenient approach to M&A

KEY TAKEAWAYS: President Joe Biden reportedly plans to formally block the $14 billion sale of United States Steel to Japan’s Nippon Steel on national security grounds. According to Bloomberg, Biden will reject the bid once the Committee on Foreign Investment in the United States (CFIUS) panel sends its decision to the president by Dec. 22

President-elect Donald Trump has expressed his desire for more control over Federal Reserve policy. However, he has indicated that he will not ask Fed Chair Jerome Powell to step down. Instead, Trump can shape monetary policy through appointments to the Federal Reserve Board of Governors. Trump may have to wait until 2026 before he can

The Federal Trade Commission (FTC) has successfully ended a $10 million student loan debt relief scheme perpetrated by Nevada-based company, Superior Servicing. A federal court has placed Superior Servicing under a temporary restraining order and frozen its assets following an FTC lawsuit in 2023. The company was alleged to have made false claims of affiliation

President-elect Donald Trump has indicated in a weekend interview that he does not intend to replace Federal Reserve Chair Jerome Powell. Powell, for his part, has stated that he would not resign if pressured by the incoming president. The financial community is closely monitoring the dynamics between Trump and Powell, as well as potential future

Key Takeaways Federal student loan borrowers enrolled in the Saving for a Valuable Education (SAVE) plan will be able to apply for two previously closed repayment plans starting in mid-December. Currently, SAVE plan borrowers are in forbearance and cannot make payments toward loan forgiveness. Borrowers who qualify for the Public Service Loan Forgiveness (PSLF) plan

The Biden-Harris Administration has announced several new initiatives to support small businesses, expanding access to federal lending and contracting opportunities. These actions are part of ongoing efforts to drive economic growth and equity by fostering small business development in underserved communities. Key Takeaways: – The Whitehouse has announced new initiatives to expand federal support for

KEY TAKEAWAYS The Consumer Financial Protection Bureau (CFPB) is suing Comerica Bank. The allegations include deliberately disconnecting customer service calls, charging illegal fees, misleading fraud victims, and imposing illegal terms of service on its Direct Express cardholders. The 3.4 million Direct Express cardholders under Comerica Bank are largely disabled and older Americans who receive monthly