Stacy Cowley
Consumer Finance Reporter at The New York Times
business reporter for @nytimes. murderer of houseplants. "Well caffeinated," says @PopMech. email [email protected]; DM (open) for my Signal #
Articles
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2 days ago |
seattletimes.com | Stacy Cowley
After a five-year pause on penalizing borrowers for not making student loan payments, the federal government dropped the hammer. It instructed its loan servicers to start reporting late payers to credit bureaus at the start of the year. The result: Millions of borrowers saw their credit scores plunge in recent months, and loan servicers are warning that a record number of borrowers are at risk of defaulting by the end of the year.
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3 days ago |
bostonglobe.com | Stacy Cowley
Loan servicers estimate that this year about 4 million people have been reported to credit bureaus for late payments, and researchers at the Federal Reserve Bank of New York project that number will climb past 9 million by the end of June. Those rising numbers have implications for the broader economy, which has already shown signs of slowing.
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3 days ago |
nytimes.com | Stacy Cowley
They're seeing their credit scores drop, which will make it more difficult to buy a car or rent a home. And that has implications for the already slowing economy. After a five-year pause on penalizing borrowers for not making student loan payments, the federal government dropped the hammer. It instructed its loan servicers to start reporting late payers to credit bureaus at the start of the year.
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6 days ago |
nytimes.com | Stacy Cowley
The agency, which has returned $21 billion to consumers since its inception, could lose 1,500 of its 1,700 employees, a union warned. The Trump administration sent layoff notices on Thursday to a large swath of employees at the Consumer Financial Protection Bureau, just days after a federal appeals court pared back an injunction that had prevented the agency's leaders from carrying out plans to fire nearly all of the bureau's workers.
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1 week ago |
nytimes.com | Stacy Cowley
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