CNN 5 Things Defaulted loan collection, Alcatraz order, Gaga bomb plot & more
May 5, 2025
The restart of defaulted student loan collections could hit millions of borrowers hard. In a surprising twist, the President has ramped up trade tensions by imposing tariffs on foreign films while also ordering the reopening of Alcatraz. Meanwhile, tensions rise as Israel expands its military operations in Gaza. In a chilling turn of events, Brazilian authorities have made arrests linked to a bomb plot targeting a Lady Gaga concert, raising serious safety concerns. The landscape of current events is rapidly evolving!
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Student Loan Collection Resumes
- The Education Department resumed collection on defaulted student loans, risking garnishment of wages.
- Over 5 million borrowers are in default, with millions more nearing delinquency, putting many at financial risk.
Trump's Movie Tariff Order
- Donald Trump ordered a 100% tariff on foreign movies, expanding trade wars into the film industry.
- Implementation is unclear since films are intellectual property, not goods, complicating tariff application.
Alcatraz Reopening Ordered
- Trump directed the Bureau of Prisons to rebuild and reopen Alcatraz prison for violent offenders.
- The plan faces legal challenges and uncertainty about how it could be implemented practically.