Broad Coalition Opposes 195% APR Bank Charter for OppFi, Which Seeks to Make Payday Loans in Every State
120+ Groups Urge FDIC, OCC, and Fed To Deny OppFi’s Request to Acquire BNC Bank
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Congress Ignores Affordability Crisis With Legislation to Supercharge Predatory Lending and Boost Harmful Credit Reporting
WASHINGTON – During the House Financial Services Committee markup on Tuesday, members are expected to vote on at least four pieces of legislation that would harm families living paycheck to paycheck and struggling with affordability and access to credit. If enacted, these bills would expand payday loans aimed at low wage workers and make it…
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Illinois Passes Law to Protect Buy Now, Pay Later Borrowers
Buy-Now-Pay-Later Lenders Must Be Licensed in Illinois and Clearly Disclose Costs to Borrowers
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Before Approving 100% APR Banks, Fed Must Hold Public Hearings
Unprecedented Bids Could Create the First National Banks Dedicated to Predatory Lending
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More Than 100 Consumer Advocates From 30 States and D.C. Convene on Capitol Hill for Consumer Advocacy Day
By engaging directly with congressional offices, advocates aim to ensure that consumer interests remain at the center of policy discussions.
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Trump Fintech Order Will Promote Predatory Lending, Endanger Consumer Funds
Order Could Enable Payday Lenders to Ignore State Consumer Protection Laws and Skip Guardrails to Get Bank Charters
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Broad Coalition Urges Congress to Oppose Unaffordable 100%+ APR Bank Loans
Groups Urge Lawmakers to Reject Enova and OppFi’s National Bank Applications and to Support State and Federal Interest Rate Limits WASHINGTON – Today, over 100 consumer, civil rights, and community organizations sent a letter urging members of Congress to stop predatory bank loans by opposing the unprecedented national bank applications of Enova and OppFi. The…
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Another 100%+ APR Bank Seeks Trump Administration Approval
OppFi’s Acquisition of BNC Bank Would Circumvent Interest Rate Limits in 45 States
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Bloomberg Law: Celebrity-Backed Financial Tools for Teens Spur Federal Scrutiny
Appearing in Bloomberg Law on March 25, 2026, Cassandre Coyer and Evan Weinberger talk to Carla Sanchez-Adams, senior attorney at NCLC about how non-bank, fintech lenders targeting teens could warrant stronger guardrails from businesses, such as making sure terms of use are easy to understand. Other concerns from consumer advocates stem from the maturity of…
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American Banker: New earned wage access schemes are worsening the affordability crisis
In an op-ed written for American Banker on March 25, 2026, Lauren Saunders, senior attorney at NCLC, looks at a new, slick breed of payday loan app that is working to extract profits from people struggling with the affordability crisis. “Many companies offering so-called earned wage access have the same basic business model as traditional payday lenders:…
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MarketWatch: MrBeast’s finance app for kids is backed by a bank that’s faced regulatory scrutiny and a fintech partner’s failure
Appearing in MarketWatch on March 17, 2026, Genna Contino speaks to Lauren Saunders, associate director and director of federal advocacy at NCLC about how the biggest YouTuber in the world has tied his name to Evolve Bank. Saunders said Evolve’s track record, including its connection to the Synapse bankruptcy, makes her wary of the bank’s…
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CNBC: A booming employee benefit at the heart of America’s affordability debate
Appearing in CNBC on February 27, 2026, Cheryl Minokur Monk talks to Lauren Saunders, associate director and director of federal advocacy at NCLC, about how an employee benefit known as earned wage access has become even more popular than 401(k) plan participation at some companies. “We don’t oppose completely free earned wage advances and believe…
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