Debt collectors, payday lenders collected over $500 million in federal pandemic relief
More than 170 of those recipients have been named in multiple consumer complaints, racking up at least 100 with the Consumer Financial Protection Bureau, according to The Washington Post’s analysis......»»
Predatory debt collectors would be barred from government’s pandemic relief loans under new bill
Debt collectors already have gained more than $520 million in loans from the Paycheck Protection Program. The bill would bar debt collectors that have been sanctioned from participating any more in the program......»»
: 1 million borrowers ‘ignored by Washington’ now eligible for COVID-related pause on student debt and collections
Millions of federal student-loan borrowers are still ineligible for COVID-19 era relief......»»
Relief extended to more than 1 million borrowers with privately-held student loans
The federal government has extended its pause on student loan payments to those who have defaulted on student loans held by private lenders, an action meant .....»»
Columbus groups eagerly await $15B federal arts relief grants
Groups say the grants, which would provide 45% of 2019 gross earned revenue – up to $10 million – will be a shot in the arm for an industry that has suffered the worst unemployment in Ohio during the pandemic......»»
The Fed buys $305 million of corporate-debt ETFs to kick off its groundbreaking relief program
Kevin Lamarque/Reuters The Federal Reserve's new corporate-credit facility took in $305 million worth of exchange-traded funds on the first day of its operation, according to data released Thursday. The central bank's ETF purchases helped push its .....»»
Debt collectors can garnish coronavirus stimulus checks: How to stop them?
Millions of Americans have received the stimulus checks from the federal government this week under the Coronavirus Aid, Relief and Economic Security (CARES) Act. However,... The post Debt collectors.....»»
Milwaukee airport receives $29 million from federal CARES Act
The Federal Aviation Administration said Tuesday that $10 billion in funds from the Coronavirus Aid, Relief and Economic Security (CARES) Act have been approved for U.S. airports impacted by the pandemic, including more than $29 million to the Milwa.....»»
Hillsborough transit authority to see a piece of $91M coronavirus relief fund
The Hillsborough Area Transit Authority, which is financially suffering due to the coronavirus pandemic, will be getting some relief from new federal funds. U.S. Rep. Kathy Castor announced Thursday that $91 million in Federal Transit Administrati.....»»
Key student-debt relief programs are at risk if Congress doesn"t boost Education Department funding, 25 Democratic lawmakers say
Following a botched FAFSA rollout and rocky return to student-loan repayment, Elizabeth Warren is calling for more cash for Federal Student Aid. Sen. Elizabeth Warren.Kevin Dietsch/Getty ImagesSen. E.....»»
Column: Are Republicans who got pandemic debt relief hypocrites for complaining about student debt relief? Yes
Republicans criticizing Biden's student debt relief plan took millions .....»»
"Deely Nuts," "Beefy King," and other fake businesses reportedly got $7 million in COVID-19 PPP loans through one lender
Non-existent farms, such as "Ritter Wheat Club" and "Deely Nuts," each received the maximum loan of $20,833, ProPublica found. President Joe Biden. Scott Olson/Getty Images Fake firms collected $7 million in COVID-19 small business relief.....»»
3.5 million workers are at risk of losing their unemployment benefits as Republican governors cut pandemic aid
Six of the seven states with a minimum wage of $7.25 are ending federal unemployment early, cutting off $300 per week from unemployed and gig workers. .....»»
A man was arrested after allegedly spending $5 million in stolen COVID-19 relief on Ferrari, Bentley, and Lamborghini sports cars
The man allegedly used falsified documents to apply for the loans. The sports cars have since been seized by federal agents. A black Lamborghin.....»»
The Wall Street Journal: Federal judge invalidates CDC’s national eviction moratorium
A federal judge on Wednesday threw out a national eviction moratorium, saying the Covid-19 pandemic-relief measure exceeded the powers of the Centers for Disease Control and Prevention......»»
Southwest Airlines post $116 million profit, thanks in part to COVID-19 bailout. ‘We believe the worst is behind us.’
Southwest Airlines is the first major U.S. airline to report a profit since the pandemic started, as federal payroll aid helped boost the .....»»
Coty to issue up to $750 million of high-yield bonds in private offering
Coty Inc. said Thursday it plans to offer up to $750 million of senior secured high-yield bonds in a private transaction, joining the many companies issuing debt during the pandemic. Proceeds of th.....»»
United turns down federal pandemic loans, opts for bond market like airline rivals
United Airlines will raise $9 billion from institutional investors through a combination of loans and bonds. Part of that will pay off $520 million the company already bo.....»»
Inside the U.S. government’s new $30 million effort to combat pandemic profiteering
Tucked in the third round of stimulus aid was $30.4 million allocated to the Federal Trade Commission to fight coronavirus-related scams. Rebecca Kelly Slaughter, acting FTC chair, discusses the efforts in a Q&A with The Post......»»
AMC wants to issue 500M new shares, and it has ideas for how to use the proceeds
AMC Entertainment Holdings Inc. CEO Adam Aron has a plan to address the movie theater chain’s pandemic-induced financial obligations and back rent: Issue as many as 500 million shares and use proceeds to buy back debt at a discount, or provide t.....»»
State utilities commission OKs $40M for customer bill relief
The Washington Utilities and Transportation Commission has approved $40 million in new energy bill assistance for people struggling financially due to the pandemic, including Puget Sound Energy gas and electricity customers. Electricity a.....»»