How massive student loan debts are sinking American dreams and causing a national economic headache. It appears that your computer does not have the Flash Player required to view NOW videos. Visit Adobe to download and install.
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NEW YORK (CNNMoney) — Citibank must pay $6.5 million for illegal student loan servicing practices, the Consumer Financial Protection Bureau said Tuesday. An investigation found that from 2006 to 2015 the bank charged incorrect.
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I’ll translate that for you. It means Citi is suffering humungous losses on the reprocessed and repackaged bits of sub-prime – or exposure to US homebuyers with a poor credit history – that were supposed to be top quality, not far off.
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