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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 [...]

National Consumer Law Center Advocates’ Statement Regarding U.S. House Passage of HEROES Act

2020-05-15T17:13:21-05:00May 15, 2020|Categories: Media Center, Uncategorized|

FOR IMMEDIATE RELEASE: MAY 15, 2020 National Consumer Law Center contact: Jan Kruse (jkruse@nclc.org  Washington, D.C. - Today, the U.S. House passed a $3 trillion dollar package in response to the COVID-19 crisis. In the consumer area, the bill provides desperately needed help for families dealing with the economic crisis, beyond the modest start in [...]

Advocates Applaud U.S. House Vote to Restore Rule to Protect Borrowers from School Fraud and Closures

2020-01-16T11:57:23-05:00January 16, 2020|Categories: Media Center, Uncategorized|

FOR IMMEDIATE RELEASE: January 16, 2020 National Consumer Law Center contacts: Jan Kruse (jkruse@nclc.org) or Abby Shafroth (ashafroth@nclc.org), (617) 542-8010 Boston – Today, National Consumer Law Center advocates applauded the U.S. House of Representatives’ use of the Congressional Review Act to overturn the 2019 Borrower Defense to Repayment rule issued by the U.S. Department of [...]

Statement Regarding Bank Regulators’ Guidance on Alternative Data

2019-12-04T15:18:02-05:00December 4, 2019|Categories: Media Center, Uncategorized|

FOR IMMEDIATE RELEASE: December 4, 2019 National Consumer Law Center contacts: Chi Chi Wu (cwu@nclc.org) or Jan Kruse (jkruse@nclc.org); (617) 542-8010 Boston - Yesterday, the Federal Reserve Board, Federal Deposit Insurance Corp., Office of the Comptroller of the Currency, Consumer Financial Protection Bureau, and National Credit Union Administration released an Interagency Statement on the Use [...]