Current Industry News

Report estimates that 2.6 million student loan borrowers would be eligible for bankruptcy discharge, and other current student loan news for the week of Jan. 24

Findings from the Student Borrower Protection Center estimate that more than 2 million borrowers would be eligible to have their loans discharged if they declared bankruptcy. Additionally, the Consumer Financial Protection Bureau has begun examining the practices of institutions that offer private student loans. Here’s what to know about this week’s student loan trends.

CFPB Announces Examinations of In-House College Lending

The Consumer Financial Protection Bureau will begin examining the operations of post-secondary schools, such as for-profit colleges, that extend private loans directly to students, according to a Jan. 20 news release.

Kessler Topaz Meltzer & Check, LLP: Securities Fraud Class Action Lawsuit Filed Against FirstCash Holdings, Inc.

RADNOR, Pa., Jan. 21, 2022 /PRNewswire/ — The law firm of Kessler Topaz Meltzer & Check, LLP informs investors that a securities class action lawsuit has been filed against FirstCash Holdings, Inc. (“FirstCash”) (NASDAQ: FCFS). The action charges FirstCash with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects.  As a result of FirstCash’s materially misleading statements to the public, FirstCash investors have suffered significant losses.

Gen Z and Millennials Favor National and Online Banks, Survey Shows — What Does That Mean for the Future of Credit Unions?

With roots dating back to the mid-1800s, credit unions have become a pillar of America’s financial landscape, but their popularity could be waning. According to a new survey by GOBankingRates, Gen Z and millennials are less likely to bank with credit unions than they are with national and/or online banks.

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