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☆ Trump’s Kari Lake ‘pick’ sparks fears at Voice of America
▼ + stars: | 2024-12-12 | by ( Brian Stelter | ) edition.cnn.com time to read: +4 min

CNN —Presidents don’t ordinarily pick the director of Voice of America, an international news broadcaster funded by the US government. Voice of America is part of the US Agency for Global Media, which also runs networks like Radio Free Europe/Radio Liberty and Middle East Broadcasting Networks. A bipartisan group called the International Broadcasting Advisory Board now works with the CEO of the U.S. Agency of Global Media. That’s why, by announcing Lake, Trump is “putting the cart before the horse,” a veteran of the agency told CNN. The board just celebrated the swearing-in of a new VOA director, Michael Abramowitz, a few months ago.

Persons: don’t, Donald Trump, Kari Lake, “, Kari, We’re, Michael Pack, Pack, Michael Abramowitz, Abramowitz, ” Trump, Lake –, Trump, Kenneth Jarin, ” Organizations: CNN, of America, Trump’s, America, VOA, ”, US Agency for Global Media, Radio Free, Radio Liberty, Middle East Broadcasting Networks, Senate, Trump loyalists, White House, Trump, International Broadcasting Advisory, U.S . Agency of Global Media, Washington Post, Freedom, Liberty, Fake News Media, Trump’s State Department, Biden Locations: Radio Free Europe, Arizona

☆ European Central Bank set to deliver final rate cut of the year: Live updates
▼ + stars: | 2024-12-12 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Skyscrapers on the skyline from the offices of the European Central Bank in Frankfurt, Germany, on Monday, Nov. 25, 2024. European Central Bank policymakers are set to hold their last meeting of the year on Thursday, with expectations firmly set for the fourth quarter-percentage-point interest rate cut of 2024. The rate had been held at 4% since Sept. 2023, prior to the first cut of the current easing cycle in June 2024. The European central bank has firmly guided expectations this year, unlike the Federal Reserve, which surprised many with its 50-basis-point rate cut in September, and the Bank of England, which has left market-watchers guessing due to its divided committee. Two key details will be in focus: firstly, staff macroeconomic projections for growth and inflation, which were last delivered in September.

Organizations: European Central Bank, ECB, Federal Reserve, Bank of England, U.S Locations: Frankfurt, Germany

CNN —A man thought to be a missing US citizen has been found in Damascus, Syria, telling reporters he had recently been freed from jail. The man is believed to be Missouri resident Travis Timmerman, 29, and he was found by residents wandering barefoot in a neighborhood just south of Damascus. In video posted Thursday, the man says only: “My name is Travis,” and adds that he is from the United States. His time being held in the Syrian prison “wasn’t too bad,” he said, according to the outlet. An alert that Timmerman had gone missing was posted by Hungarian police in August, though a Facebook post written by a family friend said that he had been missing since June.

Persons: Travis Timmerman, Bashar al, Assad, Travis, ”, Timmerman, wasn’t, Timmerman’s Organizations: CNN, CBS News, AK, Al, Hungarian, Highway Patrol, ” CNN Locations: Damascus, Syria, Missouri, United States, Lebanon, Jordan, Arabiya, Budapest, American

☆ This is what 4 of Trump’s cabinet picks think of the agencies they would lead.
▼ + stars: | 2024-12-12 | by ( Linda Qiu | ) www.nytimes.com time to read: +12 min

This is what 4 of Trump’s cabinet picks think of the agencies they would lead. If confirmed, Ms. Gabbard would oversee more than a dozen spy agencies and have access to highly sensitive intelligence. by firing its top officials, closing its headquarters in Washington and going after Mr. Trump’s rivals. But that case is not particularly relevant to Mr. Trump’s, as a federal judge ruled that the audiotapes were personal records. The letter does not contain evidence that Ms. Bowser turned down Mr. Trump’s authorization of additional National Guard troops.

Persons: Pete Hegseth, Tulsi Gabbard, Robert F, Kennedy Jr, Kash Patel, Donald J, Trump, Hegseth, “, Biden, ”, who've, Gabbard, “ Tucker Carlson, Victoria Nuland, Nuland, Carlson mischaracterized Ms, Nuland’s, Ms, mischaracterizing, General Merrick B, Garland, ’, ” Ms, Kash Patel F.B.I, Mr, Patel, Shawn Ryan’s, Shawn Ryan, ” Mr, Ronald Reagan, Bill Clinton, Clinton, Trump’s, Nancy Pelosi, Steve Bannon’s, Stephen Bannon, Pelosi, Muriel Bowser, Bowser, Kennedy, Kennedy’s, PolitiFact Organizations: Fox News, Fox, Pentagon, Army, Democratic Party, Trump, Ukraine, Russia, YouTube, United Nations, State Department, Mr, Justice Department, Presidential, National Archives, Records Administration, House Republicans, Capitol, Capitol Police, D.C, National Guard, Kennedy Jr, Health, Democratic, Louisiana House, ”, Centers for Disease Control, Prevention Locations: Washington, Afghanistan, United States, China, ideologues, Hawaii, Ukraine, Trump’s Florida, Louisiana

☆ Dollar holds steady despite rate cut bets; Aussie rises after jobs data
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: +3 min

The Aussie dollar surged after Australian employment beat forecasts, while the euro held steady ahead of the European Central Bank's (ECB) monetary policy decision later in the day. Markets have further trimmed back expectations for a December rate hike from the Bank of Japan after Bloomberg news reported Japan's central bank sees "little cost" to waiting. The Politburo on Monday vowed to switch to an "appropriately loose" monetary policy to spur economic growth. The Swiss franc traded at 0.88315 per dollar, with markets weighing the prospect of a half-point rate cut on Thursday from the Swiss National Bank. The dollar last fetched C$1.41435 after the Bank of Canada slashed its key policy rate by 50 basis points to 3.25% on Wednesday to help address slower growth.

Persons: Carol Kong, Traders, Sterling Organizations: U.S ., Treasury, U.S . Federal, Aussie, European, Bank's, Treasury Department, Fed, Commonwealth Bank of Australia, Bank of Japan, Bloomberg, Economic Work, Reuters, Swiss, Swiss National Bank, Bank of Canada Locations: U.S, China's, China

☆ Kylian Mbappé: Investigation into rape allegations closed due to insufficient evidence, says prosecutor
▼ + stars: | 2024-12-12 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

CNN —An investigation into rape allegations made against France and Real Madrid star Kylian Mbappé has been dropped due to insufficient evidence, Swedish prosecutors said Thursday. On Thursday, the Swedish Prosecution Authority released a statement confirming the investigation was now closed, without naming any individuals involved. “During the course of the investigation, there has been a designated person suspected on reasonable grounds of rape and two cases of sexual assault, but my assessment is that the evidence is not sufficient to proceed, and the investigation is therefore closed,” the prosecutors’ statement said. The French superstar has always firmly denied the allegations, calling it “FAKE NEWS” in a post on X, formerly known as Twitter, in October. Despite scoring nine league goals this season, he hasn’t produced the performances many expected he would.

Persons: Kylian Mbappé, –, Mbappé, “, ”, ” Mbappé, Germain, hasn’t Organizations: CNN, France, Real Madrid, SVT, Swedish Prosecution Authority, Paris Saint, Liverpool, Athletic Bilbao, League, Atalanta Locations: Stockholm, Paris, Los

☆ Deutsche Bank upgrades Coca-Cola & PepsiCo, says 2025 will be strong for nonalcoholic beverage stocks
▼ + stars: | 2024-12-12 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Investors should increase exposure to companies in the nonalcoholic beverage space, according to Deutsche Bank. Analyst Steve Powers upgraded Coca-Cola , PepsiCo and Keurig Dr Pepper to buy from neutral. For instance, he sees Coca-Cola "winning market share trends globally" along with a positive turnaround in the company's free cash flow trends. For PepsiCo, he thinks the Frito-Lay North America business can improve as consumers get more used to higher prices. Analysts are generally bullish on Coca-Cola, with 17 of 26 covering it giving the beverage giant a buy or strong buy rating, per LSEG.

Persons: Steve Powers, Keurig Dr Pepper, Dr Pepper, Powers, subsectors Organizations: Deutsche Bank, Cola, PepsiCo, Keurig, Dow Jones, Lay Locations: America

☆ Why Walgreens is struggling even more than CVS
▼ + stars: | 2024-12-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

Walgreens and private equity firm Sycamore Partners are discussing a deal to take Walgreens private, the Wall Street Journal reported Tuesday. Walgreens has slipped behind CVS because it’s smaller than CVS, giving it less scale to negotiate prices with insurers and other health care entities that pay for most of the prescriptions people pick up. Both the pharmacy business and the retail business are struggling for different reasons. Walgreens gets 26% of its US retail pharmacy sales from its front-end business, compared to 21% of sales at CVS. To be sure, CVS is struggling too, closing more than 1,000 stores in recent years.

Persons: ”, Jenny Guadamuz Organizations: New, New York CNN — Drug, Walgreens, Sycamore Partners, Wall Street, CNN, CVS, Walmart, Costco, Aetna, Caremark, Federal Trade Commission, Health Affairs, PBMs, UC Berkeley School of Public Health Locations: New York, United States, Black

☆ Pete Hegseth, Trump’s Defense pick, says allowing gay troops to serve openly reflects a Marxist agenda
▼ + stars: | 2024-12-12 | by ( Andrew Kaczynski | Em Steck | ) edition.cnn.com time to read: +10 min

CNN —Pete Hegseth, President-elect Donald Trump’s pick for secretary of defense, has repeatedly criticized policies allowing gay people to serve openly in the US military, calling them part of a “Marxist” agenda to prioritize social justice over combat readiness. “But because I naïvely believed that’s what ending Don’t Ask Don’t Tell was all about. “It started with Clinton under ‘don’t ask, don’t tell,’” he said. “So it started, you know, we saw it under Clinton with the tinkering of ‘don’t ask, don’t tell’ and the reasons for those changes,” Hegseth said on a podcast promoting his book. “It was stuff like, ‘don’t ask, don’t tell,’ which was their immediate target, right?

Persons: Pete Hegseth, Donald Trump’s, Hegseth, DADT, Bill Clinton, Obama, Don’t, Ben Shapiro, “, ”, ” Hegseth, Don’t Tell, ‘ don’t, they’re, “ don’t, Trump, Pete, Defense James Mattis, Joe Biden, don’t, Clinton, ’ ”, Donald Trump's, Jennifer Rauchet, Sen, Susan Collins, Mark Schiefelbein, ’, it’s, ” CNN’s Manu Raju, Alison Main, — Organizations: CNN, Warriors, Fox News, Defense, Minnesota Army National Guard, America, DADT, Meidas News, Navy, CNN Wednesday, Pentagon, Trump, Pew Research, RAND Corporation, Research, Capitol, Army, Obama Locations: Guantanamo, Iraq, Afghanistan, Maine, Washington

☆ NATO nations are reportedly in talks to boost defense spending amid Trump's return to power
▼ + stars: | 2024-12-12 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +3 min

NATO may raise defense spending to 3% of GDP by 2030, according to the FT.Trump has threatened to leave NATO if it does not spend more on defense. NATO members may increase their defense spending to 3% of GDP, in part due to pressure by President-elect Donald Trump. The discussions to increase spending come in the wake of Trump's impending return to the White House. When asked about NATO's defense spending, Rutte told the FT earlier this month that he had a number in mind but did not clarify what it would be. NATO defense spending has accelerated in recent years, but experts told BI earlier this year that that has little to do with Trump.

Persons: Mark Rutte, Donald Trump, Trump, Rutte, Edward Hunter Christie, William Alberque, BI's Mia Jankowicz Organizations: NATO, FT, Trump, Financial Times, Reuters, Finnish Institute of International Affairs, International Institute for Strategic Studies Locations: Europe, Italy, Spain, Poland, Estonia, Russia, NATO, Trump

☆ Adobe has the ability to improve its performance and market reach: Analyst
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdobe has the ability to improve its performance and market reach: AnalystJay Vleeschhouwer of Griffin Securities still confident that Adobe can continue to do well and boost its market outreach despite flagging weaker than expected FY2025 target.

Persons: Jay Vleeschhouwer Organizations: Griffin Securities

☆ A watchdog in China has called out Temu's parent company for its refunds-without-returns policy
▼ + stars: | 2024-12-12 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

A watchdog in China told Temu's parent company to rethink its refund policy. In July, hundreds of merchants stormed Temu's office in China to protest the refund policy. A top Chinese markets watchdog has called out PDD Holdings — the parent company of low-cost Chinese marketplace Temu — over a controversial customer-first refund policy. The watchdog told the company's executives the practice has strained profit margins for small merchants, sources told Bloomberg. AdvertisementThe regulators asked PDD Holdings to fix the refund policy issue but did not provide specific suggestions, the outlet reported.

Persons: Temu, Gen, Gen Zers, Donald Trump's, Temu's, Trump Organizations: PDD Holdings, State Administration, Ministry of Commerce, Bloomberg, South China Morning Post, Amazon, Seoul Metropolitan Government Locations: China, Guangzhou, Seoul

☆ An analyst who quit her job and is on track to make six figures describes the benefits and challenges of self-employment
▼ + stars: | 2024-12-12 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

Meghan Lim, 27, was in a 9-to-5 job for just a few months when she decided to give self-employment a try. She said the "hefty emergency fund" she was able to build from selling the budget template helped give her the confidence to try full-time entrepreneurship. She also made several thousand dollars from sales of the budget template. The switch from a steady 9-to-5 job to self-employment has its pros and cons and shouldn't be an instant decision. Lim's budget template is her favorite income stream because it's a passive way of making money while selling something useful.

Persons: Meghan Lim, Lim, It's, she's, it's Locations: Philippines

☆ Investors were already wary of Korean stocks. Then the country descended into chaos
▼ + stars: | 2024-12-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

South Korean markets have had a dismal 2024, with the so-called "Korea discount" in its stock markets widening compared to other global peers. The "Korea discount" refers to South Korean securities trading at lower valuations relative to regional peers due to investors' concerns over issues such as corporate governance at large family-owned conglomerates that have an outsized influence over the country's economy. Both the metrics, which indicate how much the investors value the index, have declined from a year earlier. For comparison, Japan's Nikkei 225 stock benchmark has a price-to-book ratio of 1.44 while its price-to-earnings ratio stands at 15.90 as of Dec. 11. While Japan stocks surged as it implemented measures to lift its markets, South Korea has been struggling.

Persons: Yoon Suk, Vishnu Varathan, Yoon Organizations: Korea Exchange, South, Mizuho Securities, Nikkei Locations: Korea, Asia, Seoul, South Korea, Japan

☆ Axiata CEO is a 'firm believer' of market consolidation
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAxiata CEO is a 'firm believer' of market consolidationVivek Sood, CEO of Axiata Group, talks about the factors driving the merger between Indonesian telcos XL Axiata and Smartfren, including the efficiencies and expertise the companies stand to gain.

Persons: Vivek Sood Organizations: Axiata, Indonesian

☆ Donald Trump and Bernie Sanders Want to Save You Money on Credit Cards
▼ + stars: | 2024-12-12 | by ( Emily Stewart | ) www.businessinsider.com time to read: +15 min

Sky-high credit-card interest rates are not popular. "He said, you know what, credit-card interest rates, which in some cases right now are 20, 25%, should not be higher than 10%. The average credit-card interest rate for new card offers is 24.43%, according to LendingTree — up about 10 percentage points from a decade ago. "Obviously, the interest rates have to respond to changing market conditions, and we've definitely seen that happen. A rate cap isn't the only solution to America's ballooning credit-card-debt problem and just how expensive it is to carry debt.

Persons: everyone's, Donald Trump, Sen, Bernie Sanders, Trump, Sanders, Elizabeth Warren, Matt Schulz, LendingTree, we've, Julie Margetta Morgan, Margetta Morgan, Schulz, Chi Chi Wu, Elon Musk, Wu, Banks, it's, Natasha, Janet Yellen, Aaron Klein, Barack Obama, Klein, Alexandria Ocasio, Cortez, they're, Warren, Carter Dougherty, Emily Stewart Organizations: White, Business, Politico, American Bankers Association, LendingTree, Consumer Financial, Federal Reserve Bank of New, Trump, Chi, National Consumer Law Center, Yale, Washington, Brookings Institution, Department, Treasury, Consumer, Financial Reform, Republicans Locations: Federal Reserve Bank of New York, Alexandria, Washington

☆ UnitedHealthCare CEO shooting: Attorney for suspect in health care CEO killing says he needs to see evidence to assess ‘truthfulness’ and ‘accuracy’
▼ + stars: | 2024-12-12 | by ( Karina Tsui | Steve Almasy | John Miller | ) edition.cnn.com time to read: +7 min

Uncovering evidence in writing“I haven’t seen any evidence that they have the right guy,” Dickey told CNN’s Kaitlan Collins on “The Source” earlier this week. In some of Mangione’s writings, he referenced pain from a back injury he got in July 2023, New York Police Chief of Detectives Joseph Kenny told Fox News on Tuesday. It’s lived experience.”“He’s irritated, agitated about what’s happening to him and what he’s being accused of,” Dickey told CNN, explaining Mangione’s outburst and struggle with the police. The 26-year-old was denied bail at an extradition hearing Tuesday afternoon at the Blair County Courthouse in Pennsylvania. Speaking to CNN, Dickey said Mangione would likely get a hearing on December 23.

Persons: Luigi Mangione’s, Brian Thompson, “, Thomas Dickey, “ Erin Burnett OutFront, ” Dickey’s, Jessica Tisch, Mangione, Tisch, It’s, ” Tisch, ”, ” Dickey, CNN’s Kaitlan Collins, Joseph Kenny, ” Kenny, Ted Kaczynski, UnitedHealthcare, Thompson, —, Kenny, ’ ”, Luigi Mangione, Jeff Swensen, “ It’s, ” “, …, Dickey, CNN’s Dalia Faheid, Michelle Watson, Bonney Kapp, Dakine Andone, Sara Smart, Gloria Pazmino, Amanda Musa, Celina Tebor, Elise Hammond, Emma Tucker, Jordan Valinsky, Danny Freeman, Kara Scannell Organizations: CNN, ”, New York Police Department, NYPD, Police, New York Police, Fox News Locations: Pennsylvania, Midtown Manhattan, Midtown, America, Blair, Hollidaysburg , Pennsylvania, New York, Altoona, Celina

☆ ServiceTitan co-founders on IPO debut: This is something that's been a long time coming for us
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailServiceTitan co-founders on IPO debut: This is something that's been a long time coming for usAra Mahdessian, ServiceTitan co-founder and CEO, and Vahe Kuzoyan, ServiceTitan co-founder and president, join 'Squawk Box' to discuss the company's IPO debut, how the company got started, who their biggest customers are, impact of AI, and more.

Persons: that's, Ara Mahdessian, ServiceTitan, Vahe

☆ Sen. Blumenthal on Kids Online Safety Act: This is about the toxic content being directed at kids
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Blumenthal on Kids Online Safety Act: This is about the toxic content being directed at kidsSen. Marsha Blackburn (R-Tenn.) and Sen. Richard Blumenthal (D-Conn.) join 'Squawk Box' to discuss the fate of the Kids Online Safety Act, the challenges facing the bill, how likely it will get passed in the House, and more.

Persons: Email Sen, Blumenthal, Sen, Marsha Blackburn, Richard Blumenthal Organizations: Email

☆ South Korea has a political crisis, not an economic one: Lombard Odier
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSouth Korea has a political crisis, not an economic one: Lombard OdierJohn Woods of Lombard Odier says that despite the political turmoil in South Korea, there is value to be found in the markets and opportunities for medium to long-term investors due to its role as a proxy for investing in AI.

Persons: Lombard, John Woods, Lombard Odier Locations: Korea, South Korea

☆ Oscar Health CEO on fixing health insurance industry: I would eliminate employer-sponsored insurance
▼ + stars: | 2024-12-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOscar Health CEO on fixing health insurance industry: I would eliminate employer-sponsored insuranceMark Bertolini, Oscar Health CEO and former Aetna chairman and CEO, joins 'Squawk Box' to discuss the state of the health insurance industry in the wake of the killing of UnitedHealthcare CEO Brian Thompson, public anger over insurance claim denials, what can be done to fix the health care system, and more.

Persons: Mark Bertolini, Brian Thompson Organizations: Oscar, Oscar Health, Aetna

☆ A flight from Los Angeles U-turned over the Pacific after an engine problem, resulting in a 6-hour flight to nowhere
▼ + stars: | 2024-12-12 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A Qantas flight U-turned over the Pacific Ocean — 1,100 miles after leaving Los Angeles. Investigators said sparks were seen coming from an engine, and Qantas confirmed a "mechanical issue." In addition, you accept Insider's Terms of Service and Privacy PolicyQantas passengers endured a six-hour flight to nowhere when their flight turned around over the Pacific Ocean. Flight 16 from Los Angeles to Brisbane, Australia, on December 3 U-turned after 2 ½ hours, about 1,100 miles off the California coast, per FlightAware data. On Saturday, a United Airlines flight to London returned to Newark, New Jersey, where a 24-year-old was arrested on suspicion of interference with transportation.

Organizations: Qantas, Investigators, Passengers, Business, Service, Privacy, LAX, Australian Transport Safety Bureau, Airbus, United Airlines Locations: Los Angeles, Brisbane, Australia, California, LA, Melbourne, London, Newark , New Jersey

☆ 10-year Treasury yield rises as investors digest inflation data
▼ + stars: | 2024-12-12 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

ET, the 10-year Treasury yield was up by nearly three basis points to 4.3%. U.S. Treasury yields held steady on Thursday as investors digested the latest inflation reading and awaited further data. Economists polled by Dow Jones are expecting to see a 0.2% increase on a monthly basis. The data comes ahead of the Federal Reserve's final policy meeting next week where rate cut decisions will be made. Currently, traders are pricing in a nearly 99% chance of a quarter-point rate cut, according to the CME FedWatch tool.

Persons: Dow Jones, Dow, Whitney Watson Organizations: Treasury, U.S, Bureau of Labor Statistics, Dow Jones, Federal, Goldman Sachs Asset Management, Fed

☆ I'm a millennial CPA. The field of accounting isn't dying — it's a fast-track to a happy upper-middle-class life.
▼ + stars: | 2024-12-12 | by ( Robin Madell | ) www.businessinsider.com time to read: +6 min

Some people say that "accounting isn't sexy" and that it's hard to get people to become accountants. AdvertisementDuring my sophomore and junior years, I interned with a tax firm and a CPA firm doing bookkeeping and tax work. I joined a national firm doing tax work in 2018. AdvertisementLater that year, I job-hopped to another local CPA firm and worked in a client-facing position doing tax and accounting work. Fixing the culture at some accounting firms and modernizing pay incentives would go a long way toward changing the profession's image.

Persons: Nicholas Larson, Nicholas M, Larson, —, who've, it's, haven't, I'm, Jane Zhang Organizations: Accounting, IRS, CPA Locations: Fort Worth , Texas, Oklahoma City, Oklahoma, Texas

☆ Hundreds of student-loan borrowers who applied for debt cancellation are being denied relief by a major lender, over 20 Democratic lawmakers say
▼ + stars: | 2024-12-12 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

Sen. Elizabeth Warren led over 20 colleagues in requesting the CFPB and FTC investigate student-loan company Navient. A group of Democratic lawmakers said that a major student-loan company is denying some student-loan borrowers relief that they might qualify for. Instead, they can request a school misconduct application from Navient, and Navient would then decide whether to approve it. AdvertisementThe issue, the lawmakers wrote, is that Navient has denied relief for the majority of borrowers who applied. BI previously spoke to some borrowers who have attempted to navigate Navient's school misconduct application process.

Persons: Sen, Elizabeth Warren, Navient, it's, Alexandria Ocasio, Cortez, Ron Wyden, Warren, Nick Eucker Organizations: Democratic, Consumer Financial Protection Bureau, Federal Trade Commission, Navient, Business, BI Locations: Alexandria

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