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Millions of student-loan borrowers' accounts are being transferred to the Treasuryinvestment

Millions of student-loan borrowers' accounts are being transferred to the Treasury

The Department of Education announced an agreement with the Treasury Department to help oversee the federal student-loan portfolio.  Saul Loeb/AFP/Getty Images 2026-03-19T20:46:10.627Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. The Department of Education announced an agreement to transfer student-loan borrowers to the Treasury Department. The transfer will begin with defaulted student-loan borrowers' accounts. It's Trump's first step toward moving federal student loans out of the Department of Education. AI-generated summary Summaries are generated by an AI model trained on Business Insider's articles. AI may make mistakes or provide inaccurate/incomplete information. We're unable to load that answer right now. Please try again. What are the implications for borrowers? What are the concerns of critics? What challenges does the transition pose? How will Treasury manage student loans? Why shift loans from Education to Treasury? The Trump administration took its first step toward transferring the student-loan portfolio out of the Department of Education. Loading audio narration... On Thursday, the Department of Education announced a partnership with the Treasury Department on overseeing the $1.7 trillion student-loan portfolio. The partnership, known as an interagency agreement, would hand over the portfolios of defaulted student-loan borrowers to the Treasury, allowing the agency to collect on defaulted debt and support borrowers who have defaulted.Nearly 9 million borrowers are in default, which typically happens after 270 days of missed federal student-loan payments. Prior to this agreement, the Department of Education's Default Resolution Group held those responsibilities. A fact sheet said that the agreement

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Jeffrey Epstein's personal lawyer says he took out huge cash withdrawals because he had trouble getting a credit cardinvestment

Jeffrey Epstein's personal lawyer says he took out huge cash withdrawals because he had trouble getting a credit card

Jeffrey Epstein  US Department of Justice 2026-03-19T18:00:50.221Z Share Copy link Email Facebook WhatsApp X LinkedIn Bluesky Threads lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Jeffrey Epstein's longtime lawyer, Darren Indyke, was called before the House Oversight Committee. Indyke sought to explain Epstein's large cash withdrawals starting in 2013. Epstein used cash to cover his sex-trafficking operation, victims and their lawyers have alleged. AI-generated summary Summaries are generated by an AI model trained on Business Insider's articles. AI may make mistakes or provide inaccurate/incomplete information. We're unable to load that answer right now. Please try again. What role did Darren Indyke play in Epstein's life? What are the implications of large cash withdrawals? How has the Epstein case influenced banking policies? How do banks typically flag suspicious activity? Why did JPMorgan Chase cut ties with Epstein? Speaking under oath before members of Congress on Thursday, Jeffrey Epstein's personal lawyer attempted to explain some of the now-dead financier's large cash withdrawals. Loading audio narration... In his prepared remarks, Darren Indyke told members of the House Oversight Committee that Epstein required large amounts of cash to run his many households, from New York to the US Virgin Islands."He and his staff required cash to pay for a wide variety of expenses including maintenance, repairs and daily household needs for his residential properties in New York, Florida, New Mexico, Paris and the USVI, as well as meals, gifts, gratuities and fuel for his private aircraft," Indyke said in his opening statement, a copy of which was obtained by Business Insider. Indyke also said Epstein had trouble getting approved for a credit card after JPMorgan Chase severed ties w

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