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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 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…
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 joined a comment letter emphasizing the importance of the CFPB’s system for accepting, processing and publishing consumer complaints.
Read More about Comments Supporting the CFPB Complaints System
The Consumer Financial Protection Bureau’s proposed rule under Regulation B runs counter to Congress’s intent when it passed the Equal Credit Opportunity Act. By removing disparate impact liability, severely narrowing the definition of discouragement, and over-regulating special purpose credit programs, the propose rule would represent a major step backwards in our civil rights regulatory framework.…
NCLC joined a comment on a Paperwork Reduction Act request emphasizing the importance of the CFPB’s Consumer Complaint Intake System.
Read More about Comments Supporting CFPB Consumer Complaint Intake System
This is a comment from fifty-two (52) consumer, economic justice, privacy, and advocacy groups to the Consumer Financial Protection Bureau’s (CFPB) Advance Notices of Proposed Rulemaking reconsidering its final Personal Financial Data Rights rule implementing section 1033 of the Dodd-Frank Act. The comment strongly supports the current 1033 Rule as issued in October 2024 and…
Read More about Coalition Comment Urging CFPB to Keep a Strong Personal Financial Data Rights Rule
NCLC and the Consumer Federation of America submitted comments to the CFPB opposing the proposed rulemaking to define the risks to consumers that would qualify an entity for risk-based supervision. The proposed rule directly contravenes the intention of Congress to give the Bureau considerable discretion in its exercise of this supervision authority, and it attempts…