Jacob Passy
Jacob Passy
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The Trump administration may privatize Fannie Mae and Freddie Mac — and it could disrupt the nation’s housing-finance system

The Trump administration may privatize Fannie Mae and Freddie Mac — and it could disrupt the nation’s housing-finance system

Fannie Mae and Freddie Mac have been kept in conservatorship limbo for over a decade now. But the Trump administration may move to end that before leaving office in January. In the wake of the government bailouts of Fannie Maeand Freddie Macthe housing-finance giants were placed into conservatorship. The Federal Housing Finance Agency, a new regulator, was created to oversee the two companies’ operations as the companies recovered from the subprime-mortgage crisis and repaid the federal government.In that time, Fannie and Freddie’s shareholders — other thanthe federal government — have gone...

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Jacob Passy
2d ago
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A red state is capping interest rates on payday loans: ‘This transcends political ideology’

A red state is capping interest rates on payday loans: ‘This transcends political ideology’

Nebraska voters overwhelming chose to put limits on the interest rates that payday lenders can charge — making it the 17th state to limit interest rates on the risky loans. But consumer advocates cautioned that future protections related to payday loans may need to happen at the federal level because of recent changes in regulations.With 98% of precincts reporting, 83% of voters in Nebraska approved Initiative 428, which will cap the annual interest charged for delayed deposit services, or payday lending, at 36%. On average, payday lenders charge 400% interest on the small-dollar loans...

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Jacob Passy
Nov 5
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As Ginsburg’s death reshapes the future of the Supreme Court — here are 4 upcoming cases with money implications for families and companies

As Ginsburg’s death reshapes the future of the Supreme Court — here are 4 upcoming cases with money implications for families and companies

As President Donald Trump and Senate Republicansto confirm a replacement for the late liberal Justice Ruth Bader Ginsburg, weighty cases in the Supreme Court’s fall term are approaching fast. The case challenging Obamacare, slated for Nov. 10 arguments, is — and that isn’t the only one related to issues that could matter deeply to consumers and companies.Upcoming cases touch on prescription cost regulations, computer code and copyrights, and the validity of the federal government’s main housing industry regulator. Oral arguments are scheduled to begin Oct. 5. Traditionally, a judgeif they...

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Andrew Keshner
Sep 26
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America is facing an eviction crisis as moratoriums expire: ‘This is a potential catastrophe’

America is facing an eviction crisis as moratoriums expire: ‘This is a potential catastrophe’

The United States is facing a possible tsunami of evictions caused by the coronavirus pandemic.The CARES Act, which was signed into law in March, established a temporary moratorium on evictions for all rental units that were backed by some form of federally financing, including Fannie Maeand Freddie Macloans. That moratorium is scheduled to end on Saturday.The CARES Act moratorium protected some 12.3 million rental units nationwide, a estimated. And while many cities and states passed their own eviction moratoriums, many of those have either already expired or are set to end soon.“This is a...

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Jacob Passy
Jul 26
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Should I cancel my flight? Will recirculated air on a plane spread coronavirus? Here’s what you need to know before traveling

Should I cancel my flight? Will recirculated air on a plane spread coronavirus? Here’s what you need to know before traveling

Before you rethink going on that spring vacation because of the coronavirus outbreak, consider how much risk traveling actually poses right now. Judi LiVigni was supposed to fly from New York to San Diego last week to visit her brother, who she usually sees only once a year. But the day of her flight, she chose to cancel her trip because of concerns regarding the coronavirus outbreak. LiVigni, a 51-year-old registered dietician who lives on Long Island, had planned a quick weekend getaway, but doubts were swirling in her mind as new cases of COVID-19 were being confirmed on the West Coast....

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Jacob Passy
Mar 7
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