The CFPB has issued a proposed rule gutting fair lending protections under the Equal Credit Opportunity Act (ECOA). Please comment by December 15th. This is a deeply concerning development. Here are the facts: How should we respond now? What the proposal does: The proposal would be harmful, is illegal, and is not based on facts. …
Read More about Fact Sheet: CFPB Proposes To Gut Credit Discrimination Protections
Preserve the CFPB’s independence: Created on the heels of the 2008 financial crisis, the CFPB was designed to be led by a single independent director, rather than a much weaker commission structure. This allows the agency to more effectively protect people from fraud, deception, and abuse and act nimbly to address emerging wrongdoing by financial…
Rule Enables CFPB to Monitor Companies Like PayPal, Venmo, Cash App, X Money The Consumer Financial Protection Bureau (CFPB) has finalized a rule allowing it to supervise larger nonbank companies that offer services like digital wallets and payment apps, also known as peer-to-peer or P2P apps. Supervision of these companies will make sure they comply…
Read More about CFPB Big Tech Payment App Oversight Rule Protects Personal Data and Reduces Fraud
The CFPB issued an advisory opinion to remind debt collectors that attempting to collect medical debts that are not owed and certain other tactics are unlawful under the FDCPA.
Companies that profit by cheating and exploiting our military and veterans are attacking the CFPB.
Read More about The CFPB: Protecting Servicemembers and Veterans
The CFPB's new overdraft fee rule closes a paper-check-era loophole that promotes abusive practices and allows the biggest banks to earn billions in profits from the most vulnerable families.
Read More about Overdraft Rule Returns $5 Billion in Big Bank Junk Fees to Consumers’ Pockets
NCLC will pursue common-sense regulatory and legislative reforms to ensure fairness, fight fraud, and protect consumers in 2025.
