Fighting Junk Fees
Consumers pay tens and maybe even hundreds of billions of dollars a year in junk fees. Here are highlights of NCLC’s work to bring an end to them.
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Consumers pay tens and maybe even hundreds of billions of dollars a year in junk fees. Here are highlights of NCLC’s work to bring an end to them.
Advocates praised action taken by the CFPB to stop credit card lenders from raking in billions of dollars from excessive late fees.
Appearing in NPR on March 5, 2024, Scott Horsley interviews NCLC Senior Attorney Chi Chi Wu for coverage of the CFPB rule to limit credit card late fees. “This is really an example of government in action to help consumers.” Chi Chi Wu, senior attorney at the National Consumer Law Center
Read More about NPR: The U.S. sharply limits how much credit cards can charge you in late fees
Appearing in The New York Times on March 5, 2024, Stacey Cowley interviewed NCLC Associate Director Lauren Saunders for coverage of the CFPB’s rule to limit credit card late fees. Consumer advocates cheered the change. The consumer bureau “showed its math” in laying out how it calculated the $8 fee limit, said Lauren Saunders, associate director…
Read More about The New York Times: New Federal Rule Caps Most Credit Card Late Fees at $8
Appearing in NPR on March 1, 2024, Noam Levy interviews Chi Chi Wu on the CFPB’s efforts to penalize medical debt collectors, issue stern warnings to health care providers and lenders that target patients, and publish reams of reports on how the health care system is undermining the financial security of Americans. “The fact that…
Read More about NPR: Why a financial regulator is going after health care debt
Effective January 23, 2024, two new CFPB advisory opinions clarify several critical Fair Credit Reporting Act (FCRA) issues and should facilitate private FCRA litigation. The first addresses accuracy issues in background check reports used by most employers and landlords. The second addresses problems consumers face when seeking complete disclosure of their credit reports. A new…
Read More about Digital Library: Two New CFPB Advisory Opinions Facilitate Private FCRA Litigation