Dept. Of Education Working On Rules For Defense Of Repayment Law After Influx Of Claims

Dept. Of Education Working On Rules For Defense Of Repayment Law After Influx Of Claims

Under federal law, student loan borrowers may be eligible to have their debts discharged if they prove the school they attended deceived them with false promises related to their future careers. However, the measure has been used only sparingly in the past and few clear rules outline the forgiveness process. Now, after nearly two decades on the books, federal officials are finally getting around to crafting rules that could remove one roadblock for students seeking relief.   [More]

REAL ID Standard Implementation At Airports To Start January 2018

REAL ID Standard Implementation At Airports To Start January 2018

Hundreds of thousands of residents in five states and one U.S. territory will receive a two-year reprieve from having to use an additional form of identification when going through airport security, as the Department of Homeland Security extended the deadline for state drivers licenses to meet REAL ID standards.  [More]

From The Heart Or Wallet: Get The Most Of Your Last-Minute Charitable Donations

From The Heart Or Wallet: Get The Most Of Your Last-Minute Charitable Donations

Whether it’s the lingering holiday spirit or just the desire to lower your annual tax burden before the deadline, you might be feeling a bit of a tug to donate your time, money, food, clothing, or other items to charity.  But before you make your last-minute gift, make sure you’re doing it right. [More]

(Bill Binns)

Residents In Nine States Could Need A Second Form Of ID To Pass Through Airport Security Next Year

Ten years ago, Congress passed the REAL ID Act, which set minimum security standards for state-issued driver’s licenses and photo IDs. While the rules haven’t exactly been enforced to the “T” by the Dept. of Homeland Security, that’s poised to change, leaving millions of people in nine states in need of a second form of ID to pass through airport security.  [More]

Drone Owners Must Register Their Unmanned Aircraft Starting Dec. 21

Drone Owners Must Register Their Unmanned Aircraft Starting Dec. 21

Nearly a month after a task force recommended the Federal Aviation Administration require drone hobbyists to register their unmanned aircraft, the agency has finally solidified a process to keep tabs on the flying devices.  [More]

New Campus Banking Rules Hope To Protect Students From High Prepaid & Debit Card Fees

New Campus Banking Rules Hope To Protect Students From High Prepaid & Debit Card Fees

Back in May, the Department of Education proposed rules to govern college prepaid and debit cards in order to afford students proper protections from excess fees and other harmful practices. Fast forward five months, and those rules have are now finalized.  [More]

Proposed Keyless Ignition Alert Rule May Have Prevented Carbon Monoxide Deaths

Proposed Keyless Ignition Alert Rule May Have Prevented Carbon Monoxide Deaths

A recently filed lawsuit alleges that 10 automakers concealed the risk of carbon monoxide poisoning in more than five million vehicles with keyless ignitions, resulting in 13 deaths. Meanwhile, a federal regulator’s four-year-old proposal for an alert that could have saved some lives continues to go unimplemented. [More]

FTC Expected To Clarify Its Power To Police Unfair Competition

FTC Expected To Clarify Its Power To Police Unfair Competition

From time to time, the Federal Trade Commission is known to take on companies it believes create an environment of unfair competition. Over the years, some have seen the agency’s actions to be a bit arbitrary and wide-ranging. But that could soon change as officials are expected to unveil a policy statement this week specifying how it pursues antitrust cases. [More]

FCC Adopts Rule Saying Your Phone Company Actually Has To Tell You Before They Kill Your Copper Landline

FCC Adopts Rule Saying Your Phone Company Actually Has To Tell You Before They Kill Your Copper Landline

The age of copper is over. Or at least, the nation’s biggest telephone legacy landline carriers really want it to be. And the FCC is okay with that — as long as companies stick to a few new consumer protection rules that the commission voted on today. [More]

CFPB Reminds Retailers They Can’t Accept Military Allotments For Certain Purchases

CFPB Reminds Retailers They Can’t Accept Military Allotments For Certain Purchases

Allotments allow military servicemembers to automatically direct some of their paycheck to parties of their choosing, ideally for savings, insurance premiums, housing payments, and support of dependents. Until recently, allotments could also be used to make retail purchases, but such transactions weren’t covered by many of the legal protections that come with traditional payment methods like electronic checks and debit cards. Recently enacted rules now prohibit the use of allotments for buying personal property, and federal regulators are reminding retailers they have to follow the law. [More]

Regulator Issues “Guiding Principles” For Making Real-Time Payments Safe, Secure

Regulator Issues “Guiding Principles” For Making Real-Time Payments Safe, Secure

If you buy something with a debit/credit card or an online check, there can be a delay of hours or days before the other party gets those funds. Advances in technology are allowing payment platforms to cut that down to mere seconds, which could help consumers by preventing banks from re-ordering multiple transactions to maximize overdrafts. But as non-cash payments inch closer to real-time transactions, federal regulators want to ensure that companies are following certain best practices to make things safe and consumer-friendly as possible. [More]

(Chris Camargo)

San Francisco Creates New Office To Regulate Airbnb, Other Short-Term Rentals

The city of San Francisco and Airbnb have a somewhat contentious relationship, most recently involving tens of millions of dollars in back-taxes the short-term rental company agreed to pay the city earlier this year. Now, to ensure things continue to go smoothly for renters and rentees of services like Airbnb, the city has created a new office for the sole purpose of enforcing rules regarding vacation and short-term rentals. [More]

(Nathan Van Driel)

Dept. Of Labor Proposal Would Expand Overtime Pay To Nearly Five Million More Americans

Working more than 40 hours a week but not getting paid overtime because you make too much already? If so, you might soon be pocketing more dough for your extra hours under newly proposed federal regulations that raise the threshold income level at which workers are exempt from overtime pay of time-and-a-half wages. [More]

All Major U.S. Airlines Offer Free Cancellations Within 24 Hours, Except One

(Paul Thompson)

Even the most prepared traveler occasionally has to change their itinerary for unforeseen circumstances. While dealing with airlines to make a simple change can be both a test of your patience and a drain on your bank account, if you catch the issue soon enough you might save hundreds of dollars in change fees. That’s thanks, in part, to Department of Transportation rules that allow a ticket to be held at the same price for 24 hours before purchase or canceled within 24 hours after purchase — most of the time. [More]

CFPB Proposes Delay Of New Mortgage Rules By Two Months

CFPB Proposes Delay Of New Mortgage Rules By Two Months

Prospective homebuyers anticipating a more streamlined disclosure process while buying their dream home may have to wait a little longer, as the Consumer Financial Protection Bureau is proposing a delay to new rules. [More]

Congress Takes Another Stab At Undercutting Gainful Employment Rules Two Weeks Before Implementation

Congress Takes Another Stab At Undercutting Gainful Employment Rules Two Weeks Before Implementation

The Department of Education’s long-awaited gainful employment rules – aimed at reining in the for-profit college industry – go into effect on July 1. But just because there are only 14 days before implementation, doesn’t mean those opposed to the regulations are giving up their fight. [More]

New York Regulator Finalizes First-Of-Its-Kind Plan To Govern Virtual Currency With “BitLicense”

New York Regulator Finalizes First-Of-Its-Kind Plan To Govern Virtual Currency With “BitLicense”

Nearly a year after the New York Department of Financial Services took steps to regulate businesses that operate in virtual currency, the Department announced the finalization of the “BitLicense” plan, making it the first set of guidelines for the use of cybercurrency. [More]