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National Consumer Law Center Advocates Support Education Department Giving  Loan Relief for 18,000 Former ITT Students but Urge More Action

2021-06-16T09:09:25-05:00June 16, 2021|Categories: Media Center, Uncategorized|

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. [...]

New 50-State Survey Finds Gains and Losses for Consumers in Larger, Longer High-Cost Predatory Loans

2021-05-27T14:57:56-05:00May 27, 2021|Categories: Media Center, Uncategorized|

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 [...]

New Bank Regulator Leadership Welcome; Congress Still Must Roll Back Rule Promoting Predatory Lending

2021-05-05T14:46:37-05:00May 5, 2021|Categories: Media Center, Uncategorized|

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,  [...]

New Government Data Exposes Complete Failure of Education Department’s Income-Driven Repayment Program

2021-04-14T14:05:29-05:00March 8, 2021|Categories: Media Center, Uncategorized|

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 [...]

COVID-19 & Consumer Protections Archive

2021-02-10T10:30:06-05:00January 12, 2021|Categories: Uncategorized|

Stimulus Payments CBPP (Center on Budget and Policy Priorities) resources to alert 12 million low-income people of October 15, 2020 deadline to request stimulus payment for receipt in 2020. Alert: IRS Sending Letters About Unactivated Stimulus Prepaid Cards, July 2, 2020 Consumer, Banking Groups Applaud Bill to Exempt Economic Impact Payments from Garnishment, May 26, [...]

Important wins, but unmet needs, in new stimulus package

2020-12-22T10:39:02-05:00December 22, 2020|Categories: Media Center, Uncategorized|

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 [...]

Advocates Condemn FDIC Rule that Encourages Predatory High-Cost Loans; Call on Congress to Pass Federal 36% Interest Rate Cap Limit

2020-06-25T09:28:46-05:00June 25, 2020|Categories: Media Center, Uncategorized|

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 [...]