Mark Zuckerberg paid close to $100 million for 700 acres of beachfront property on the island of Kauai in 2014. Three holding companies controlled by Zuckerberg filed eight lawsuits in local court on December 30 against families who collectively inherited 14 parcels of land through the Kuleana Act, a Hawaiian law established in 1850 that gave natives the right to own the land that they lived on for the first time. The 14 parcels total just 8.04 of the 700 acres Zuckerberg owns, but the law gives any direct family member of a parcel's original owner the right to enter the otherwise private compound.
A Pennsylvania mall that was foreclosed on after its owners failed to repay $143 million has been auctioned off for $100. Wells Fargo Bank was owed the money from a 2006 loan and submitted the winning bid for the 1.1 million-square-foot Galleria at Pittsburgh Mills on Wednesday.
If you're aiming to zero out your student loans ahead of schedule, pay attention to how your loan servicer handles those extra payments. The Consumer Financial Protection Bureau announced Wednesday it is suing federal and private student loan servicer Navient, saying the company has been "systematically and illegally failing borrowers at every stage of repayment." Attorneys general for Illinois and Washington state, who had teamed up with the bureau on the multi-year investigation, filed their own suits against Navient Wednesday. Among the CFPB's charges, Navient — formerly part of Sallie Mae — allegedly steered struggling borrowers into forbearance when they might have qualified for income-driven repayment plans, and did not adequately keep borrowers in income-driven plans informed of critical deadlines to maintain their eligibility.