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Content Tagged As debt

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  • Senate passes Puerto Rico rescue bill, sends to president

    June 29, 2016 11:13 AM

    WASHINGTON - The Senate has passed a financial rescue package for debt-stricken Puerto Rico, sending the measure to President Barack Obama. The vote was 68-30 on Wednesday. It comes two days before the island owes a $2 billion debt payment to creditors. Obama is expected to sign the measure. The... more »
  • Louisiana judge to stop jailing defendants over fees

    June 28, 2016 12:35 AM

    NEW ORLEANS- A Louisiana judge and a civil rights group that accused him of running a debtors prison have reached a temporary agreement under which the judge will stop jailing defendants for nonpayment of fees and stop assessing certain costs on defendants. The news came during a joint motion filed... more »
  • Lawsuit alleges Louisiana judge runs debtors' prison

    June 21, 2016 12:12 PM

    NEW ORLEANS - Civil rights lawyers in Louisiana say a judge is running a modern-day debtors' prison by sending poor defendants to jail when they can't pay fines and charging them a questionable "extension fee" to avoid jail time. The Southern Poverty Law Center filed the lawsuit Tuesday against... more »
  • Rule aims to ease debt relief to students who were defrauded

    June 13, 2016 4:41 PM

    WASHINGTON - The Obama administration is trying to make it easier for students who have been misled or defrauded by their colleges to have their loans forgiven. The Education Department has proposed a new rule that lays out a clear relief process for borrowers who believe they were lied... more »
  • Louisiana to refinance debt for $82M for this year's budget

    March 17, 2016 11:22 AM

    BATON ROUGE - Louisiana's top officials have agreed to refinance state debt to generate $82 million in quick cash to help close gaps in this year's budget. The Bond Commission agreed to the financing maneuver Thursday, over the objections of its chairman, Treasurer John Kennedy. Lawmakers assumed the additional cash... more »
  • Foreign holdings of US Treasury debt rose to record

    February 16, 2016 4:43 PM

    WASHINGTON - Foreign holdings of U.S. Treasury securities rose in December to a record high despite cutbacks by China and Japan, the two biggest foreign owners of Treasury debt. The Treasury Department says foreign ownership of Treasury securities increased 0.7 percent in December to a fresh record of $6.17... more »
  • All aboard! Most visitors at U.S.S. Kidd in 25 years Play Video

    December 29, 2015 10:44 PM

    BATON ROUGE - After sinking in debt for years, the U.S.S. Kidd appears to have righted the ship in 2015. The ship's director says more people climbed aboard in 2015, than in any other year since 1990. Alex Juan also says 33,000 first time visitors dropped by this year. She... more »
  • Boehner likely to move on debt limit hike before departure

    October 14, 2015 3:47 PM

    WASHINGTON - House Speaker John Boehner is signaling that he'll move must-do legislation to increase the government's borrowing cap before he leaves Capitol Hill. The statutory cap on the government's so-called debt limit needs to be raised by early November, the Congressional Budget Office said Wednesday, confirming a recent warning... more »
  • Students ask federal government to erase their college debt

    September 3, 2015 9:32 AM

    WASHINGTON- Almost 12,000 students are asking the federal government to forgive their college loan debt, asserting their school either closed or lied to them about job prospects. The figure represents an unprecedented spike in what's called a "borrower's defense" claim following the collapse Corinthian Colleges for-profit college chain, which had... more »
  • Little-claimed Citizens insurance rebate lowered

    August 3, 2015 7:33 AM

    BATON ROUGE- Everyone in Louisiana who buys property insurance will lose 28 percent of a tax credit they can get for covering the debt of the state's property insurer of last resort. In addition, the reduction is retroactive, meaning those who failed to file for the tax credit over the... more »
  • Afghan president says his country owes 'profound debt' to US

    March 25, 2015 10:19 AM

    WASHINGTON - Trying to repair relations with the U.S., Afghan President Ashraf Ghani is telling Congress that his country owes a 'profound debt' to the more than 2,200 American soldiers killed in Afghanistan. In a speech to a joint meeting of Congress, Ghani also thanked the U.S. for development aid... more »
  • US consumer borrowing rises $14.8 billion in December

    February 6, 2015 2:43 PM

    WASHINGTON - Consumers increased their borrowing in December, with the category that includes credit cards rising at the fastest pace in eight months. That could be an indication that consumer spending will strengthen as strong jobs gains give shoppers more confidence about taking on debt. The Federal Reserve says that... more »
  • Rules in works to stop payday loan debt

    February 1, 2015 1:18 PM

    WASHINGTON - Efforts to stop debt from payday loans are still underway for lawmakers. Federal regulators say they are now putting together the first-ever rules on those loans to help cash-strapped borrowers avoid falling into a cycle of high-rate debt. The Consumer Financial Protection Bureau says state laws governing... more »
  • 42.9 million Americans have unpaid medical bills

    December 11, 2014 2:12 AM

    WASHINGTON, D.C. - A new government report shows that nearly 20 percent of U.S. consumers - nearly 43 million people - have unpaid medical debts. The findings from the Consumer Financial Protection Bureau suggest that many Americans are being trapped by debt because they are confused by the notices they... more »
  • Hospital manager says it paid LSU $7M in dispute

    August 22, 2014 3:25 PM

    BATON ROUGE - The research foundation running the LSU hospitals in Shreveport and Monroe says it has paid the university system $7 million, after LSU sent a collection letter demanding $25 million. The Biomedical Research Foundation of Northwest Louisiana, or BRF, said Friday it placed another nearly $11 million into... more »
  • State tax amnesty program to be offered this fall

    August 12, 2014 4:05 PM

    BATON ROUGE - The Louisiana Department of Revenue hopes to offer taxpayers who have fallen behind on state tax obligations a fresh start with the announcement of the Louisiana Tax Amnesty 2014 program this fall. The 30-day amnesty program offers people who haven't paid their state taxes in full... more »
  • Study: 35 percent in US facing debt collectors

    July 29, 2014 1:57 AM

    WASHINGTON, D.C. - A study by the Urban Institute shows that more than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies. These consumers fall behind on credit cards or hospital bills. Their mortgages, auto loans or student debt pile up, unpaid. Even... more »
  • Pascagoula has $5M in Katrina debt forgiven

    July 3, 2014 12:12 PM

    PASCAGOULA, Miss. - More than $5 million in loans approved for the city of Pascagoula after Hurricane Katrina in 2005 have been forgiven by the Federal Emergency Management Agency. The city was notified of the decision this week. After the storm, many businesses and services in Pascagoula shut down, causing... more »
  • La. lawmakers tackle state retirement system debt

    May 20, 2014 11:02 AM

    BATON ROUGE - Lawmakers have rewritten the rules for how the state's retirement systems will offer pension payment increases to retirees. They agreed to give one final 1.5 percent cost of living adjustment to about 100,000 retired workers under the current rules. But then lawmakers also made it more difficult... more »
  • Warren: Allow student loan borrowers to refinance

    May 6, 2014 5:16 AM

    WASHINGTON, D.C. - Sen. Elizabeth Warren wants the next debate in Congress on student loans to focus on helping borrowers refinance their debt. The Massachusetts Democrat planned to file a bill Tuesday that would open the door for potentially millions of borrowers of earlier federal loans to refinance that debt... more »
  • Bills to pay down state retirement debt stall

    March 20, 2014 2:16 PM

    BATON ROUGE- Lawmakers on the House Retirement Committee deadlocked on a proposal that would steer more money to retirement debt by taking dollars from an account used to pay cost-of-living increases to retired state workers. The committee voted 5-5 Thursday for the proposal, stalling it. After the vote, Rep. Kevin... more »
  • USS Kidd sinking in debt Play Video

    February 20, 2014 5:50 PM

    BATON ROUGE - The USS Kidd has become the target of a state investigation, and records show the former destroyer is sinking in debt. The ship owes $334,440 in unpaid insurance premiums to the state, according to documents obatined by the News 2 Investigative Unit. Louisiana Inspector General Stephen... more »
  • Bond Commission approves borrowing $500 million

    December 19, 2013 11:59 AM

    BATON ROUGE - The state Bond Commission gave approval to a plan to borrow nearly $500 million for construction projects. The money will replenish a fund that pays for the projects. State Treasurer John Kennedy says the details will be worked out next month. Right now the plan... more »
  • LSU hospital layoffs reduce state retirement debt

    November 6, 2013 12:04 PM

    BATON ROUGE - The Jindal administration's layoff of more than 7,700 LSU hospital workers has put a major dent in the state employee retirement system's debt, dropping it hundreds of millions of dollars. Gov. Bobby Jindal pushed to turn over the operations of LSU hospitals to private companies. Seven deals... more »
  • State construction projects back on track

    October 11, 2013 11:44 AM

    BATON ROUGE - Higher revenue forecasts and low interest rates have Louisiana's construction projects back on track. Louisiana had been close to its constitutional limit on debt. State Treasurer John Kennedy said the money to pay for ongoing construction was running out, with no room to borrow more.... more »
  • Baker water rates could go up Play Video

    October 9, 2013 5:38 PM

    BAKER - The Baker City Council has started the process of raising water rates in the city to help pay down some debt. Baker is in the red $2 million after upgrading its aging water system. Today during a work session, some council members suggest raising water rates by... more »
  • Debt for south La. toll bridge being refinanced

    September 19, 2013 2:11 PM

    BATON ROUGE- The state is reworking its financing plans for a south Louisiana toll bridge that has been riddled with problems, to keep the tolls from rising beyond the current schedule. The State Bond Commission approved the pieces of the $176 million debt restructuring plan Thursday for La. Highway 1... more »
  • Nonprofit organizations tied to state senator Play Video

    August 14, 2013 6:39 PM

    BATON ROUGE - A News 2 investigation shows links between Louisiana State Senator Yvonne Dorsey-Colomb, her husband and two nonprofit organizations targeted by State Treasurer John Kennedy's Office. Kennedy sent a list of Non-Governmental Organizations , or NGO's, that have failed to provide documentation to the state outlining how... more »
  • Kennedy seriously considering governor's run Play Video

    July 29, 2013 2:32 PM

    BATON ROUGE - Treasurer John Kennedy said he's seriously considering a run for the Louisiana governor's office, but stopped short of throwing his hat into the race. He made the statement while speaking at the Baton Rouge Press Club Monday. Kennedy also announced today he's planning to give... more »
  • New state office to target debt collection

    June 11, 2013 2:31 PM

    BATON ROUGE- A new state agency is being created to beef up Louisiana's efforts to collect delinquent accounts owed to the state. Lawmakers who overwhelmingly agreed to set up the Office of Debt Recovery are hoping to drum up new dollars for the treasury in a state struggling through six... more »
  • Community college construction bill nears passage

    May 14, 2013 1:19 PM

    BATON ROUGE - Louisiana higher education leaders are at odds over a proposal to let the community college system tap into construction dollars outside of the traditional budget process. The community colleges are winning the legislative battle so far. A bill allowing the community college system to sidestep the regular... more »
  • America is America's biggest creditor

    April 29, 2013 7:28 PM

    WASHINGTON- Despite what you've heard, China isn't the country's biggest creditor, America is. The national debt is soon to be a staggering $17 trillion and the bulk of that is held by the Federal Reserve, Social Security system, various pension plans for civil service workers and the military, mutual funds,... more »
  • Jindal administration weighs debt refinancing

    February 14, 2013 5:45 PM

    BATON ROUGE - The Jindal administration is looking at ways to restructure Louisiana's debt to keep dollars flowing for state construction projects, even as the state hovers near its debt ceiling. The governor's top budget adviser, Commissioner of Administration Kristy Nichols, said Thursday that the administration will ask the Bond... more »
  • Stripped and whipped

    February 13, 2013 7:51 PM

    Three people are behind bars for stripping and whipping a young man because of his father's $20 debt. Authorities in Newark, New Jersey say they have a video showing the beating and the three arrested are affiliated with a street gang. The 21-year-old was beaten with a belt and had... more »
  • Obama signs bill averting government default

    February 5, 2013 7:30 AM

    WASHINGTON - President Barack Obama has signed into law a bill raising the government's borrowing limit, averting a default and delaying the next clash over the nation's debt until later this year. The legislation temporarily suspends the $16.4 trillion limit on federal borrowing. Experts say that will allow the government... more »
  • Elusive apartment owner owes $100,000 to city Play Video

    January 30, 2013 6:37 PM

    BATON ROUGE - Conditions continue to get worse at an apartment complex with a history of trouble in Baton Rouge. The majority owner of the Brandywine Apartments, Dr. Stephen Ayers from Lake Charles, missed utility payments for years and now owes the city more than $100,000. The parish told... more »
  • House passes bill to defuse debt crisis

    January 23, 2013 12:29 PM

    WASHINGTON (AP) - The House has passed a bill to permit the government to borrow enough money to avoid a first avoid default for at least four months, defusing a crisis looming next month and setting the stage for a springtime debate over taxes, spending and the deficit. The House... more »
  • House GOP seeks to defuse debt crisis

    January 23, 2013 6:56 AM

    WASHINGTON - House Republicans are moving to try to defuse a potential debt crisis with legislation to prevent an economy-rattling fiscal crisis for at least three months. The GOP legislation marks a tactical retreat by House GOP leaders, eager to avoid a potential first-ever default on U.S. payment and debt... more »
  • GOP moves to delay debt-ceiling showdown 3 months

    January 22, 2013 4:08 PM

    WASHINGTON - Republicans controlling the House are moving quickly to try to defuse a potential debt crisis. They're offering legislation to prevent a first-ever default on U.S. obligations for three months or more. The Republicans are giving up for now on trying to extract spending cuts from Democrats in return... more »
  • GOP official: House to vote on delaying debt limit

    January 18, 2013 12:04 PM

    WASHINGTON - A Republican official says the GOP-controlled House will vote next week to permit the government to borrow more money to meets its obligations. Full details aren't settled yet, but the move is aimed at giving the government about three more months of borrowing authority beyond a deadline expected... more »
  • US taps pension fund to avoid passing debt limit

    January 15, 2013 5:46 PM

    WASHINGTON - Treasury Secretary Timothy Geithner says the government has begun borrowing from the federal employee pension fund to keep operating without surpassing its debt limit. Geithner says in a letter to congressional leaders that the move will free up $156 billion in borrowing authority while Congress debates increasing the... more »
  • Geithner: Gov't could pass debt limit by mid-Feb.

    January 14, 2013 4:08 PM

    WASHINGTON - Treasury Secretary Timothy Geithner is telling congressional leaders that the U.S. government will exhaust its borrowing limit as soon as mid-February, earlier than expected. The government reached its $16.4 trillion borrowing limit on Dec. 31, but began using bookkeeping maneuvers to keep from surpassing it. In a letter... more »
  • Boehner: GOP will pass 'responsible' debt bill

    January 14, 2013 1:05 PM

    WASHINGTON - Speaker John Boehner says the GOP-controlled House will "do its job" and pass legislation to lift the nation's borrowing cap and keep the government running, but will insist that Democrats accept new spending controls. Boehner acknowledged Monday that failing to lift the so-called debt ceiling would have bad... more »
  • Obama: Debt limit increase can't be tied to spending cuts

    January 14, 2013 12:50 PM

    WASHINGTON - President Barack Obama is demanding that Congress quickly raise the nation's $16.4 trillion debt limit, telling reporters, "we are not a deadbeat nation." At a White House news conference less than a week before he takes the oath of office for a second term, Obama warned that if... more »
  • Governors warn Congress over debt limit

    January 9, 2013 10:41 AM

    WASHINGTON - Governors are warning Congress that lingering uncertainty over raising the nation's debt limit could hinder their state budgets and job growth. Delaware Gov. Jack Markell and Oklahoma Gov. Mary Fallin are outlining state agendas in 2013 as part of the National Governors Association. Markell says the postponing of... more »

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