Spokesman: Silver Not Stepping Down, Duties Delegated

Spokesman: Silver Not Stepping Down, Duties Delegated

Weather Alert

Nor'easter to Bring a Heavy to Major Snowfall Monday Night into Tuesday Night

A major Nor'easter is expected to develop south of New England Monday night, potentially getting stuck near Cape Cod into Tuesday before moving away Tuesday night.  This storm will bring heavy snow and gusty wind at times causing blowing and drifting snow, potential whiteout conditions at times leading to dangerous travel late Monday night through Tuesday.  Snow accumulations of 10" to 20" will be possible, especially in the Hudson valley and across western New England with amounts up to 10" in the Mohawk valley and western Catskills.   

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Channel 6 News - Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Grieving borrowers told to repay student loan

WASHINGTON (AP) -- The Consumer Financial Protection Bureau says that after the death or bankruptcy of a parent or grandparent, some student loan borrowers who used these relatives as a co-signer are alarmed to learn they must immediately pay a loan in full.

Agency ombudsman Rohit Chopra says complaints related to this issue are growing more common because the practice is catching so many consumers by surprise. The lenders have clauses in their contract that explain this could happen, but many consumers don't realize it.

The issue affects private student loans and not federal student loans.

The Consumer Bankers Association said in a statement that its members work with their customers "carefully and compassionately" and it is common practice for the lenders to release co-signers from loan obligations.
 
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