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WEATHER ALERT

11 advisories in effect for 11 regions in the area

DEPARTMENT OF TREASURY


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Student loans in default to be referred to debt collection, Education Department says

Read full article: Student loans in default to be referred to debt collection, Education Department says

The Education Department will begin collection next month on student loans that are in default, including the garnishing of wages for potentially millions of borrowers, officials said Monday.

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Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor

Read full article: Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor

President Joe Biden will nominate Christy Goldsmith Romero to replace Martin Gruenberg as head of the Federal Deposit Insurance Corporation.

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Yellen says U.S. economy 'resilient' amid global headwinds

Read full article: Yellen says U.S. economy 'resilient' amid global headwinds

U_S_ Treasury Secretary Janet Yellen is seeking to project confidence in the U_S_ financial outlook while pledging vigilance in responding to โ€œrisks on the horizon.โ€.

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Michigan offers 7 tips when considering taking out student loans

Read full article: Michigan offers 7 tips when considering taking out student loans

The Michigan Department of Treasuryโ€™s MI Student Aid Team wants families to be alert and informed when considering taking out student loans.

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Michigan House OKs taxes on out-of-state online retailers

Read full article: Michigan House OKs taxes on out-of-state online retailers

Allison Joyce/Getty ImagesLANSING, Mich. - Many out-of-state websites that facilitate online sales in Michigan would have to collect and remit the 6 percent sales tax under legislation approved unanimously Wednesday by the state House. The bills, which were referred to the Senate for consideration next, would bring in an additional $80 million to $120 million in sales and use taxes annually, according to the nonpartisan House Fiscal Agency. A portion of the legislation would codify the state Treasury Department's 2018 guidance that requires out-of-state sellers to pay taxes if they exceed $100,000 in sales or have 200 or more transactions into Michigan - which came after a U.S. Supreme Court decision that enabled states to require online retailers to collect sales taxes on purchases from states where they have no physical presence. "This just levels the playing field," said state Rep. Lynn Afendoulis, a Republican from Grand Rapids Township. The Department of Treasury estimates that Michigan will collect $225 million this fiscal year because of the high court decision.

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