Tag Archive for Banks

Featured Monthly Discussion: Senator Warren Offers Real Financial Reform with S. 897

Every Month a CPEG member will be posting a brief issue analysis for discussion and comments. This month’s discussion piece was authored by CPEG’s newest member, Luis Diaz-Perez. A little more about Luis can be found in the “About Us” section of our site.

A college education was once synonymous with self-advancement and independence. Now, a college degree might be more appropriately associated with debt and dependence. Individual lives, not to mention national growth and development are being buried beneath $1 trillion of student loan debt. This calamity, already greater than American credit card or car loan debt, is scheduled to become even more pitiless after July 1. That’s when interest on federal student loans doubles to 6.8%. But this piling on doesn’t have to be. Thanks to Sen. Elizabeth Warren’s first stand-alone bill, S897 – the Bank on Students Loan Fairness Act, a remedy is at hand that doesn’t just attack the metastasis, it also offers a prescription for broader economic wellness.

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CPEG Commentary on Settlement to End Foreclosure Probe

Authored by CPEG’s Bill Barclay, an expert on the housing crisis with 22 years of experience in the Financial Services Sector

According to press accounts, there will be a deal between the banks and the state Attorney Generals over housing/foreclosures, etc. A bubble in housing prices (driven by finance) got us into the Lesser Depression and it could get us out. But I don’t think this deal is it.

The banks are going to fork over $25 billion, plus access to refinancing by 300,000 homeowners now shut out, and perhaps some payments to 750,000 people who lost homes to foreclosure. This may sound like a lot of money – until you remember the scope of the problem.

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