NCLC submitted comments in response to the Treasury Department’s request for information on developing a national strategy for financial inclusion. Our comments begin by addressing some of the risks associated with expanding the use of alternative data in credit reporting and argue that “alternative” data is best left outside of the main credit reporting file.…
NCLC Petition for Reg X Rulemaking on HELOCs, Reverse Mortgages, Language Access, and Manufactured Housing
The National Consumer Law Center urges the Bureau to modify the mortgage servicing rules in Regulation X, 12 C.F.R. Part 1024, to provide consistent, fair, and transparent protections to borrowers across the mortgage market. NCLC requests that the Bureau remove the HELOC exemption from Regulation X sub-part C; remove the reverse mortgage exemption from Regulation…
NCLC joined a large coaltion thanking the IRS for developing the report to Congress on an IRS-run direct tax filing system and commending the IRS for the announcement that the IRS will launch a pilot direct file tool in 2024 to streamline access to the tax system. The letter emphasizes that Direct File will help…
Coalition Comments to FHFA on Equitable Housing Finance, Language Access, and Fair Lending Oversight
Comments have been submitted on behalf of civil rights and consumer advocacy organizations in support of the Federal Housing Finance Agency's notice of proposed rulemaking on Equitable Housing Finance and Fair Lending Supervision.
NCLC and partners urge the CFPB to issue Best Practices Guidance to Remittance Providers to simplify price disclosures, and stop hidden charges and fees.
Coalition Comments to the Task Force on New Americans on Expanding Language Access Within the Financial Services Sector
Comments submitted on behalf of civil rights and consumer advocacy organizations regarding the request for public input issued by the Financial Access and Education Subcommittee of the White House Task Force on New Americans. The consumer groups urge the Financial Access and Education Subcommittee to incorporate policies that would explicitly expand language access within the…