FOR IMMEDIATE RELEASE: JUNE 16, 2021 National Consumer Law Center contact: Jan Kruse (jkruse@nclc.org) Boston - Today, the U.S. Department of Education (Department) announced that it will discharge the federal student loans of 18,000 former for-profit ITT Tech students who applied for borrower defenses to repayment based on significant misrepresentations made by the now-shuttered school. [...]

For Immediate Release:  May 27, 2021 National Consumer Law Center contact: Jan Kruse, jkruse@nclc.org NCLC’s Review of State Consumer Protection Laws for a $2,000 Two-Year Installment Loan and $500 Six-Month Loan   View the full report, with maps for the District of Columbia and each state’s APRs for two types of installment loans, tables outlining changes since the [...]

For Immediate Release: May 5, 2021 Press Contacts: NCLC: Jan Kruse (jkruse@nclc.org) AFR: Carter Dougherty (carter@ourfinancialsecurity.org) CRL: Matthew Kravitz (matthew.kravitz@responsiblelending.org) CFA: Rachel Gittleman (rgittleman@consumerfed.org) Washington, DC –  Advocates welcomed reports that Treasury Secretary Janet Yellen plans to appoint a new acting head of the Office of the Comptroller of the Currency (OCC), replacing Blake Paulson,  [...]

FOR IMMEDIATE RELEASE: March 8, 2021 Contacts: National Consumer Law Center: Jan Kruse (jkruse@nclc.org) Student Borrower Protection Center: Walter Suskind (walter@protectborrowers.org) Just 32 Students Have Received Promised Debt Cancellation as 2 Million Remain Trapped in Decades-Old Debts; Advocates Call for Immediate Action to Deliver Debt Relief and Overhaul the Department’s Program Washington, D.C. – Approximately [...]

New stimulus checks, broadband access and rental aid welcome, but foreclosure and student loan relief absent WASHINGTON, DC – Advocates welcomed the new stimulus bill passed by Congress last night, but warned that it has critical gaps that should be immediately filled by the incoming Biden Administration. “The new $600 stimulus payment, broadband aid, low-income [...]

FOR IMMEDIATE RELEASE: JUNE 25, 2020 Media Contacts: National Consumer Law Center: Jan Kruse (jkruse@nclc.org) Center for Responsible Lending: Matthew Kravitz (matthew.kravitz@responsiblelending.org) Americans for Financial Reform Education Fund: Diop Harris (diop@ourfinancialsecurity.org) Washington, D.C. – Consumer advocates criticized the Federal Deposit Insurance Corp. (FDIC) for today finalizing a rule that encourages online non-bank lenders to launder [...]