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NEW ABA Resource: Apple Pay Goes Live October 20, 2014 (10/16/14) ABA released guidance on Apple Pay which is scheduled to be released on October 20, Apple CEO Tim Cook said at an event in California. He also said that Apple Pay has signed up 500 new banks in addition to the six largest card-issuing U.S. banks that were included in the original announcement of Apple Pay in September.

2014 CFPB Student Loan Ombudsman’s Annual Report (10/16/14) Many private student loan borrowers say they are driven to default due to lack of viable repayment options, according to CFPB's report released on October 16. Student loan complaints, which have increased 38% from last year, revealed: there is little information available to borrowers on ways to avoid default; there are no affordable loan modifications available, and; lenders only offer temporary fixes that delay default.

 

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