Close-up closing sign at J.C. Penney store facade building. Coronavirus (COVID-19) forced JCPenney to file for bankruptcy protection and closing many locations. – Dallas, TX, USA – Oct 7, 2020 (Shutterstock) By Christina Hughes Babb, DS News March experienced the highest monthly increase in new bankruptcy filings across all chapters—
By Zachary Warmbrodt, Politico Washington’s nearly $1 trillion small business rescue, now under the watch of President Joe Biden, is about to slam into a new obstacle — it’s already running out of money. The Small Business Administration is warning lawmakers that funds for the Paycheck Protection Program, which offers
By Adam S. Minsky, Forbes A settlement agreement with a private student loan debt buyer following the collapse of a for-profit college chain will result in $2.6 million in student loan forgiveness for former students. Pennsylvania Attorney General Josh Shapiro announced the agreement yesterday. The settlement agreement is with Elevation
By Aarthi Swaminathan, Yahoo Finance The pandemic-induced recession has led to a notable amount of Black women to declare bankruptcy, according to a report by nonprofit bankruptcy startup Upsolve. The report came from a bankruptcy questionnaire of 17,000 low-income users over the past year and found that COVID-19 has pushed
By Charles Riley, CNN Business London (CNN Business) – President Joe Biden’s $1.9 trillion stimulus package will boost the US economy and drive faster global growth this year, the International Monetary Fund said Tuesday, though it warned that many countries continue to suffer from the pandemic and are at risk
By Lorie Konish, CNBC As vaccines ramp up and the economy reopens, many individuals and families may be eager to see this side effect of the Covid-19 pandemic continue: government stimulus checks. A recent poll from Data for Progress found 65% of Americans are in favor of payments of $2,000
By Greg Iacurci, CNBC The IRS will start issuing tax refunds in May to Americans who filed their returns without claiming a new break on unemployment benefits, the federal agency said Wednesday. The American Rescue Plan waived federal tax on up to $10,200 of unemployment benefits, per person, received in
By Katie Lobosco, CNN Washington (CNN) – The Biden administration has reversed a controversial Trump-era policy that will lead to the cancellation of roughly $1 billion in student debt for borrowers who were defrauded by their colleges. The change will deliver full loan forgiveness to 73,000 people who were deemed
By Anna Bahney, CNN The federal ban on evictions has been extended yet again, bringing relief to tens of millions of renters struggling to catch up. The Centers for Disease Control and Prevention extended its federal moratorium on eviction for non-payment of rent until June 30. It marks the third time
By Olivia Rockeman and Reade Pickert, Bloomberg President Biden’s $1.9 trillion economic stimulus package will send billions of dollars to America’s jobless. It’s also a potential bonanza for scammers. Throughout the Covid crisis, unemployment programs have served as a lifeline, channeling more than $650 billion over the past year to
