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In response to a request for information by Representative Maxine Waters and House Financial Service Committee members, the National Consumer Law Center submitted comments on the application of consumer protection law to use of AI in the financial marketplace. Our comments:
Read More about Comments in Response to Congressional RFI on AI in the Financial Marketplace
The CFPB Reform Act of 2026 discussion draft, released in July 2026, would complete the attack on the CFPB already underway to devastating effect. Americans for Financial Reform, the National Consumer Law Center, on behalf of it’s low-income clients, the National Community Reinvestment Coalition, the National Fair Housing Alliance, the National Association of Consumer Advocates…
Read More about Comment in Opposition to the CFPB Reform Act of 2026 Discussion Draft
This is a letter opposing H.R. 6955, a dangerous bank deregulation package would undermine core safeguards and supervision, push risk into the shadows and make the next publicly financed bailout more likely.
Read More about Letter Opposing Main Street Capital Access Act, H.R. 6955
The undersigned 38 consumer and advocacy groups expressed opposition to H.R. 5775, the FCRA Liability Harmonization Act (Loudermilk) and H.R. 8141, the Fair Credit Reporting Reseller Accuracy Act (Lawler). In short: H.R. 5775, the FCRA Liability Harmonization Act, would dramatically reduce accountabilityfor credit bureaus and other companies, including when they wrongfully label innocentconsumers as bad…
H.R. 5402, the Credit Access and Inclusion Act, is touted as helping consumers build credit by including rent and utility payment history, but in reality it preempts state and other federal laws that give consumers control over their personal information and harms consumers struggling to afford high utility bills or obtain affordable rental housing. The undersigned…
Read More about Letter to the House in Opposition to the Credit Access and Inclusion Act
This letter opposes inclusion of the Regulations from the Executive in Need of Scrutiny Act (REINS Act) in Budget Reconciliation because it would require that any major rule from an administrative agency would require affirmative approval of the entire rule by both houses of Congress.
NCLC joined a letter opposing H.R. 4801(Hill)/S. 2528(Round), Unleashing AI Innovation in Financial Services Act, which allows companies that use artificial intelligence to seek waivers of consumer protection laws with minimal safeguards.
NCLC joined comments urging the CFPB to fundamentally rewrite its draft Strategic Plan to reflect a vision that proactively and aggressively defends ordinary people while ensuring fair, transparent, and competitive financial markets. The draft plan presumes that consumer protection regulation is an “unwarranted burden, retreats from non-bank supervision, narrows the definition of actionable harm, de-emphasizes…
National Consumer Law Center joins the Consumer Federation of America and the National Consumers League in strong support of a Federal Trade Commission (“FTC” or “Commission”) rule that comprehensively addresses modern negative option plans, also called “subscription plans” or “subscriptions”. Subscription plans frequently result in consumer overpayment, unintended enrollment, and unreasonable cancellation procedures. An adequate…
This NCLC comment expresses strong opposition to changes proposed by the Consumer Data Industry Association (CDIA) that would throttle the number of complaints filed with the CFPB against the three Big Three credit bureaus (Experian, Equifax and TransUnion). The comments object to the CFPB’s action in already adopting one of the changes demanded by CDIA,…
NCLC joined community, civil rights, labor, consumer, civic and other organizations in urging members of Congress to fight for an effective Consumer Financial Protection Bureau able to carry out its statutorily mandated consumer protection mission for the long term, and to oppose legislative efforts to weaken the agency.
NCLC submitted comments on the Office of the Comptroller of the Currency’s (OCC) proposed interest-on-escrow preemption determination and real estate lending escrow accounts rule, which exceed the agencyʼs power.
Read More about Comments on OCC Interest-on-Escrow Law Preemption