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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jul 20, 2012
Page
8
Tourists in London face higher costs during the Olympic Games with longer ATM lines and price shocks. Some stores in Olympic Park accept only certain cards while authorities urge carrying pounds. Citizens report confusion over using pounds versus euros or dollars amid cash shortages and collateral practices by some vendors.
The CFPB warns private student loans resemble subprime lending as standards tightened after the 2008 crisis. Private loans rose from 5 billion in 2001 to over 20 billion in 2008, with totals around 150 billion still owed in 2011 alongside more than 1 trillion in federal debt.
The AARP says over 1.5 million older Americans have lost homes with millions more at risk. The report notes disparities among African-Americans and Hispanics and cites debt, unemployment, and months behind on mortgages as factors. Jewel Lewis-Hall, a school cook in Washington, describes late payments and bank notices as the toll of the crisis.
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