In a sign of the times, the Wall Street Journal reports that the U.S. Justice Department has issued a statement saying that people in the marijuana business cannot use bankruptcy when they get into financial trouble. After an increase in the number of bankruptcies where marijuana assets have been disclosed, the U.S. Trustee Program director reminded trustees who handle consumer bankruptcy cases that marijuana remains illegal under federal law and that they must not handle money from the sale … [Read more...]
Archives for April 2017
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Illinois Student Loan Debt Relief Case
The Wall Street Journal reports that two state lawsuits filed in Illinois and Washington claim that from 2000 to 2009, Sallie Mae extended billions of dollars in predatory, subprime student loans to borrowers likely to default. New details that have emerged out of the legal action reveal how the lender used subprime loans to build its business with colleges and universities, knowing that many of the borrowers would not be able to repay the loans. A boon for the lender has, by many accounts, … [Read more...]
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