The Indicator from Planet Money Student loans, savings accounts, and goodbye to artificial red dye
17 snips
Jan 17, 2025 This week, the hosts delve into the Biden administration's moves, including the much-debated student loan forgiveness initiative. They tackle a lawsuit against Capital One over alleged defrauding of customers, shedding light on consumer rights. A fascinating conversation on the ban of artificial dye number three leads to nostalgic childhood cereal memories. With a mix of humor and analysis, they explore the implications of these changes on today's economy and food safety.
AI Snips
Chapters
Transcript
Episode notes
Capital One Lawsuit
- The CFPB is suing Capital One for allegedly cheating customers out of $2 billion in interest.
- Capital One allegedly misrepresented older savings accounts as high-yield while offering newer accounts with significantly better rates.
Waylon's Savings Account
- Waylon Wong and her husband opened a high-yield savings account with a bank later acquired by Capital One.
- They suspect their account might be among those affected by Capital One's alleged interest rate manipulation.
Student Loan Forgiveness
- The Biden administration forgave 150,000 student loans this week, totaling 5 million forgiven loans.
- Despite the Supreme Court striking down Biden's original plan, $183 billion in student loans have been forgiven.