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Approximately 450,000 student loan borrowers are eligible for debt forgiveness under a $23 billion settlement following allegations that schools defrauded borrowers, with another nearly 200,000 recipients newly approved this month.
New mortgage lending policies from Fannie Mae and Freddie Mac taking effect Aug. 3 will require closer scrutiny of condo building finances and condition, potentially causing delays and denials in mortgage approvals.
A McKinsey report finds that 90% of Americans cite groceries and food prices as a top cost concern, with rising affordability challenges affecting economic mobility across income levels.
The Resolution Foundation recommends the UK government implement an emergency energy assistance scheme providing up to £175 in annual bill cuts for low-income households this winter, targeting those earning £24,000 or less.
The Federal Reserve may raise interest rates as soon as September, with market expectations favoring an October move, potentially increasing borrowing costs for consumers already facing inflation pressures.
Credit card balances reached $1.26 trillion in the second quarter, rising $21 billion as late-stage delinquencies jumped sharply, reflecting a widening economic divide among American households.
