We’re now accepting applications for the Your Money, Your Goals 2020 cohort.
The Bureau welcomes 40 organizations to the 2019 Your Money, Your Goals cohort. Public and private organizations working in community, faith-based, workplace, academic and prison settings will receive training and technical assistance to expand the reach of financial empowerment tools and information to economically vulnerable consumers.
Check your mailbox: Veterans with severe disabilities and student loans should keep an eye out for this
The Department of Education is sending letters to veterans with severe disabilities notifying them that they may be eligible for a tax-free discharge of their outstanding student loans. Here’s what to look for if you’re eligible.
Borrowers whose student loans are forgiven due to death or disability will no longer have to pay federal income taxes on those forgiven loans. Now, tens of thousands of disabled veterans and hundreds of thousands of people living with severe disabilities are eligible for new student loan protections.
As we observe the 27th anniversary of the Americans with Disabilities Act, we are announcing a new financial empowerment tool for people with disabilities. Our companion guide contains information and tips based on insights from people with disabilities and organizations that serve the disability community.
These organizations that will integrate financial empowerment into their existing services for consumers with disabilities.
Americans with disabilities disproportionately live in poverty; are more than twice as likely to use nonbank financial services such as payday loans and check cashing; and 80 percent have no emergency savings to absorb a financial shock. Americans with disabilities, like all consumers, have the right to fair treatment in the financial marketplace and access to tools that can help them improve their financial lives.
Our job is to empower consumers by providing them with the information they need to make the best financial decisions for themselves and their families. As part of our mission to protect and empower all consumers, we’re launching ROADS (Reach Outcomes. Achieve Dreams. Succeed) to Financial Independence – a first-of-its-kind nationwide initiative to provide financial counseling services to people with disabilities who are working or transitioning into the workforce.
We’re releasing our third annual Fair Lending Report, which details the important strides we have taken over the last year to protect consumers from credit discrimination and increase access to credit.
Today, we’re reminding lenders that placing unnecessary documentation requirements on recipients of Social Security disability income, including disabled veterans, may raise fair lending concerns. Following the guidelines and standards noted in the bulletin may help lenders comply with fair lending laws.