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and yesterday congress vote to roll back rules adopted in its wake. the house voting in favor of a bipartisan senate bill that eases rules on community banks. for example, bb&t and suntrust. republicans and moderate democrats say dodd-frank hurts the banks. regulations stifle lending, so the bill raises the threshold for federal oversight from $50 billion to $250 billion, leaving only the biggest, jpmorgan chase, wells fargo, bank of america, to face the toughest scrutiny like annual stress tests and providing plans on how to safely dismantle if they fail. senate banking chair mike crapo says this will help community banks spur economic growth and create jobs on main street. but progressives warn any rollback could trigger another financial crisis. this bill not just bank oversight, though. it also loosens regulations for mortgage lenders. changes for rules student loan
set to be in force tomorrow. david k. johnston telling our rachel rachel maddow last night. making it more expensive to borrow money. this is the second rate hike in the last three months the central bank intends to raise rates at least two more times this year. and more americans are defaulting on student loans. student loan defaults jumping nearly 17% last year according to a review of government data by the consumer federation of america and the justice department announcing that four people have been indicted in connection with a massive data breach at yahoo. this intrusion affected at least
switching to the winter blend. parents, is your child looking at college? the white house launched a new college scorecard. it gives them important information about how much the typical graduate makes ten years down the road and the average monthly loan payment for a graduate of that college. too many families are borrowing too much money and they don t have the right information to make better decisions at the beginning when the kid is going to college. out of control student debt is a problem. did you know 70% of all student loan defaults are from students who attended for-profit colleges. that is important information. you can see. early start continuing right now. new developments in the race for president. donald trump and ben carson
but there s an effort to create anxiety. is college overrated? it s a myth. has college become too expensive? any parent who tries to pay for their child s education is feeling sticker shock, and access and completion of college are more challenging in our time. of all the time bombs in the american economy set to explode, student loan debt in this country has reached $1 trillion. you may see a tsunami of student loan defaults. there are problems in all the centers of higher education. and it s a perfectly expectation for students and their families to know when they leave college they want to have skills that people are willing to compensate for. we have a lot of people with college degrees waiting tables, cleaning toilets. nearly half of all students are showing no significant gains in learning. but there s an apocalyptic dimension to this as well. and that is the idea that the