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Mitchell D. Weiss

Contributor |  In Students, Managing Debt

Mitchell D. Weiss is an experienced financial services industry executive and entrepreneur. He is an Executive in Residence at the University of Hartford and co-founder of the university’s Center for Personal Financial Responsibility. His books include Life Happens: A Practical Course on Personal Finance from College to Career
and Business Happens: A Practical Guide to Entrepreneurial Finance for Small Businesses and Professional Practices—both of which are now undergraduate courses that Mitch teaches at the university and elsewhere.

Are LendingClub’s Troubles Bigger Than Just One Company?

Personal Loans

Are LendingClub’s Troubles Bigger Than Just One Company?

Are LendingClub’s Troubles Bigger Than Just One Company?

The spin factory is working extra shifts these days. No, I’m not talking about the upcoming presidential election. Rather, I’m referring to the surprisingly quick and robust efforts on the part of financial services industry advocates to regain control of the narrative following a so-called FinTech (financial technology) poster child’s fall from grace. LendingClub Corporation... Read More

Op/Ed: Student Borrowers Will Continue to Struggle Despite the CFPB’s Efforts

Students

Op/Ed: Student Borrowers Will Continue to Struggle Despite the CFPB’s Efforts

Op/Ed: Student Borrowers Will Continue to Struggle Despite the CFPB’s Efforts

The financial services industry erupted earlier this month, soon after the Consumer Financial Protection Bureau published a set of proposed rules for limiting the use of forced arbitration clauses by broad range of entities, including certain providers of financial products and services. This longstanding practice, whose origin dates back to 1925, of incorporating language that... Read More

Do Student Loan Servicers Expect to Be Sued?

Students

Do Student Loan Servicers Expect to Be Sued?

Do Student Loan Servicers Expect to Be Sued?

“Maybe it’s because those who know won’t and those who don’t can’t.” Such was my response to a colleague who, after reading a recent article in the Huffington Post on yet another legal action taken against a student loan servicing company for alleged unfair and abusive practices, asked why there’s little, if any, talk about... Read More

The Right Way to Find the Right Job

Students

The Right Way to Find the Right Job

The Right Way to Find the Right Job

College graduation season is upon us, and there’s no shortage of advice columnists offering tips to recent college grads on how to land that first, full-time job. Some discuss what today’s employers are looking for—candidates who are resourceful, intuitive, self-starting and sincere (like that’s a surprise)—while others suggest strategies for devising eye-catching resumes. This isn’t one of those... Read More

The Ugly Truth About the Federal Direct Student Loan Program

Students

The Ugly Truth About the Federal Direct Student Loan Program

The Ugly Truth About the Federal Direct Student Loan Program

The Department of Education recently published a series of performance summaries for its Federal Direct, Federal Family Education and Perkins student loan programs. A little more than $1.2 trillion is due from roughly 42 million students, who owe an average $29,000 each. The most comprehensive of these reports pertains to $855 billion in Federal Direct... Read More

It’s Finally Time to Fix Payday Loans

Personal Loans

It’s Finally Time to Fix Payday Loans

It’s Finally Time to Fix Payday Loans

Payday loans have a bad rap. With triple-digit annual percentage rates and exceedingly abbreviated terms (the full value of the loan is typically drafted from a borrower’s bank account immediately following payroll deposit), hapless consumer-debtors often find themselves stuck in an endless cycle of costly renewals that amount to death by a thousand cuts. A... Read More

The Wrong People Are Managing Your Student Loan Debt

Students

The Wrong People Are Managing Your Student Loan Debt

The Wrong People Are Managing Your Student Loan Debt

Senators Patty Murray (D-Wash.), Elizabeth Warren (D-Mass.) and Richard Blumenthal (D-Conn.) received some disturbing news on leap year day 2016. That’s when the U.S. Department of Education’s Office of Inspector General officially informed the senators that it had determined that the Education Department had failed to properly audit certain student-loan serving companies’ compliances with the... Read More

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