debt

Puerto Rico's governor has signed a bill that puts the island's debt payments on hold until January 2017. Gov. Alejandro Garcia Padilla says the island's first priority is covering payments for essential services.

Puerto Rico acted this week following reports that a key financial institution, the Government Development Bank, is nearly insolvent. A group of hedge funds went to court to block public agencies from withdrawing funds from the bank. Within hours, the Legislature moved to pass the debt moratorium by approving the measure.

Capital One Sues Its Cardholders More Than Any Other Bank

Dec 30, 2015
Nicholas Kamm / AFP/Getty Images via NPR

The investigative journalism non-profit ProPublica went through court data from 1996 through 2014 in 11 states, including Florida. Capital One has more court filings than any other lender during those years.

In each state, Capital One stood out as the bank that sues its customers the most and for the smallest amount -- as little as $1,000.

John O'Connor / WLRN

One day after a shooter killed nine people and himself at an Oregon community college, Democratic presidential candidate Hillary Clinton said she’ll seek tougher gun laws if she’s elected.

Clinton made the pledge to about 1,000 people at a Friday campaign rally at Broward College’s Davie campus. Clinton said people shouldn’t be afraid to attend class or see a movie.

“I am going to fight for new, effective gun control measures,” she said

The pledge drew the biggest response from the crowd. Clinton said that changing gun laws is a “political mountain.”

Frankie Leon / Flickr

A new study says South Floridians are swimming in credit card debt. Maybe drowning in it.

CreditCards.com, a self-described “online credit card marketplace,” looked at average debt versus median income for 25 major metropolitan areas to determine a region’s credit card debt burden.

The Miami metropolitan area had the fourth worst debt burden in the country.

Trianons Oficial/flickr

Bills filed in the Florida House and Senate would require high school students to take a one-semester financial literacy course. But with just three weeks left in the legislative session, the proposals (House bill 29 and Senate bill 92)  haven’t been discussed by committees.

A few years back, James Nelms opened his own debt collection business. He didn't have a fancy resume, or much money. He was an ex-con whose siblings staked him $10,000 to get his business up and running.

This isn't as odd as it may seem. Many debt collection agencies are small businesses, eking out a living in storefront shops. A few years back, when the world was going wild for debt, lots of people were getting into the business. All that debt meant lots of money to be collected.

How Broward College Is Reducing Student Debt

Sep 21, 2014
John O'Connor / StateImpact Florida

To get a student loan at Broward College, you’ve got to sit through a two-hour financial lesson with Kent Dunston first.

At times, it’s a little like “Scared Straight!” – that 1978 documentary about setting juvenile delinquents on the right path -- but for your credit score.

Dunston’s first piece of advice – figure out how much money you’re going to need.

“You’re not going to borrow more than that amount of money,” he told the students. “You’ll be offered more. You don’t need it.”

Flickr / Ministerio de Cultura de la Nación

Argentina is no stranger to financial crisis. But an unprecedented drama is playing out there this summer, one that could alter the rules in global debt markets – and boost the sales in South Florida condo markets, as more Argentines look for safer places to put their money amid the turmoil.

At issue is $100 billion: the mountain of sovereign debt Argentina defaulted on in 2001 amid a horrific economic collapse. It was the largest default in history.

U.S. Federal Reserve / Truth In Accounting

The debate in Congress over raising the debt ceiling was focused on the $16.7 trillion borrowing limit. That's a huge number that has been increasing rapidly since the Great Recession. The chart above from the U.S. Federal Reserve shows the federally reported public debt jumping from $6 trillion after the 2001 recession to almost $17 trillion this fall.