Student-loan debt generally can't be discharged in bankruptcy, although there are certain exceptions for financial hardship. This article suggests two other strategies for borrowers who are struggling to pay down their debt.
A revision to the Volcker rule may lead to a ban on trades and investments not currently covered by the regulation. The proposed changes are under review, with the final version expected early next year.
Federal Reserve Bank of New York President John Williams expressed a positive outlook on the economy Monday but said the culture at banks needs improvement. "Although we've seen marked improvements in the critical areas of capital, liquidity and resolution, we've not yet fully addressed the root causes of many of the problems that plagued the financial sector," Williams said, calling for high standards of culture and conduct in the industry.
The nomination of Kathy Kraninger as director of the Consumer Financial Protection Bureau could be a strategic move to keep Mick Mulvaney in the top spot, observers say. Nominating a candidate triggers a provision that allows the interim person to remain in the post until the nominee is approved or rejected, and some experts say Democrats will likely defer Kraninger's approval, giving Mulvaney more time to lead the agency.
An Employee Retirement Income Security Act retirement plan would fail to meet the "retail customer" definition in the Securities and Exchange Commission's proposed best-interest standard, The Wagner Law Group says. Non-ERISA 403(b) plans, however, could meet the definition.
Shares in Mercari, a Japanese company that runs an online customer-to-customer flea market, were met with strong investor demand and closed up 77% after the firm's initial public offering on the Tokyo Stock Exchange. Mercari sold about a third of its shares, raising about $1.2 billion.
EzCater, a startup headed by Stefania Mallett, a serial entrepreneur who has been raising venture capital for various companies for 21 years, brought in $100 million in its most recent funding round. Mallett says she was successful because she has fine-tuned her pitches to be more "gender-blind," maintaining a sharp focus on data.
Toss, a startup that operates South Korea's most popular payment app, raised $40 million in a funding round that included an investment from Singapore sovereign wealth fund GIC. Last year, PayPal made a strategic investment in Toss in a round that raised $48 million.
Talentry, a Munich-based startup that helps employers make use of their employees' social networks to support recruiting efforts, raised $6.9 million in its most recent funding round. The startup plans to expand beyond German-speaking countries into international markets, including the US and UK.
The latest funding round for Veriff, an Estonian tech startup that aims to make highly reliable identity verification affordable for small companies, brought in $7.7 million. The startup intends to relocate its sales and marketing operations to the US soon.