All Issues

High-Cost Credit

Predatory lending strips wealth from vulnerable consumers and communities. High-cost lenders use a variety of methods to evade consumer protection laws and even to deny they are offering credit. NCLC fights for reasonable and effective interest rate limits, affordable small dollar loans, and an end to abusive practices and evasions by payday lenders, online lenders, credit cards, and newer fintech forms of credit.

Key Topics

Credit Cards

Protecting consumers against credit card abuses.

Fintech Credit Products

Fighting for strong consumer protections for new forms of credit.

Interest Rate, Usury & Other Credit Laws

Supporting effective state and federal interest rate limits and credit laws.

Payday & Installment Loans

Fighting high-cost, predatory loans and supporting affordable small dollar credit.

Rent-a-Bank Loans

Fighting schemes that help lenders evade state interest rate limits.

Featured

Recent Resources

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Letter to President Biden and CFPB Supporting Lower Credit Card Late Fees

November 28, 2023

Comments to Calif. DFPI on Revised Earned Wage Advance Regulations

November 27, 2023

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2023)

November 21, 2023

2023 Update: Some States Tighten Rules Against High-Cost Installment Loans; Others Increase Interest Rates and Allow Junk Fees to Pile On

November 21, 2023

State Rate Caps for $500 and $2,000 Loans

November 15, 2023

State Recommendations for Earned Wage Advances and Other Fintech Cash Advances

October 11, 2023

Consumers Need Strong Protections from Fintech Cash Advances that Create Debt Traps

October 11, 2023

Bankshot: Lauren Saunders Discusses Earned Wage Access. Early Payday or Payday Loan?

July 27, 2023

199% Auto Repair, Pet Loans Face Crackdown by DC, States

July 12, 2023

Comments & Letters

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Letter to President Biden and CFPB Supporting Lower Credit Card Late Fees

November 28, 2023

Comments to Calif. DFPI on Revised Earned Wage Advance Regulations

November 27, 2023

Comments on California DFPI Proposed Rules on Earned Wage Advances and Other Fintech Cash Advances

May 17, 2023

Consumer Group Comments Supporting CFPB Proposal for $8 Credit Card Late Fees

May 3, 2023

NCLC-CFA Comments in Response to CFPB Request for Information Regarding the Consumer Credit Card Market

April 24, 2023

Coalition Comments to FDIC Regarding Community Reinvestment Act Examination of First Electronic Bank

March 21, 2023

Letter Analyzing Nevada Earned Wage Advance Bill

March 16, 2023

Coalition Comments to FDIC Regarding Community Reinvestment Act Examination of Rent-a-Bank FinWise Bank

March 14, 2023

Group Comments to CFPB’s Advanced Notice of Proposed Rulemaking on Credit Card Late Fees

August 1, 2022

Reports

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Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2023)

November 21, 2023

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2022)

June 28, 2022

Report: Predatory Lenders TAB Bank & Easypay Finance Harm Veterans & Military Servicemembers

May 24, 2022

Predatory Auto Repair Loans by TAB Bank and EasyPay Finance

May 11, 2022

Predatory Puppy Loans by TAB Bank and EasyPay Finance

February 1, 2022

Predatory Installment Lending in the States: How Well Do the States Protect Consumers Against High-Cost Installment Loans? (2021)

May 27, 2021

Predatory Installment Lending in the States: 2020

February 28, 2020

Predatory Installment Lending in the States: A Larger and Longer Debt Trap? (2018)

October 1, 2018

Predatory Installment Lending in the States: States Battle to Restrain High-Cost Loans (2017)

October 1, 2017

Issue Briefs

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State Rate Caps for $500 and $2,000 Loans

November 15, 2023

State Recommendations for Earned Wage Advances and Other Fintech Cash Advances

October 11, 2023

Data on Earned Wage Advances and Fintech Payday Loan “Tips” Show High Costs for Low-Wage Workers

April 10, 2023

2023 Consumer Protection Federal Priorities

January 13, 2023

What States Can Do to Help Consumers: High Cost Loans

March 15, 2022

After Payday Loans: Consumers Find Better Ways to Cope with Financial Challenges

March 1, 2022

2022 Consumer Protection Federal Priorities

February 18, 2022

Instead of Predatory Loans, a Variety of Strategies Can Help People to Address Budget Shortfalls

February 1, 2022

Federal Ability-To-Repay Requirements for Small Dollar Loans

November 1, 2021

Testimony

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Rent-a-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Cap

February 5, 2020

Press Releases & News

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2023 Update: Some States Tighten Rules Against High-Cost Installment Loans; Others Increase Interest Rates and Allow Junk Fees to Pile On

November 21, 2023

Consumers Need Strong Protections from Fintech Cash Advances that Create Debt Traps

October 11, 2023

Bankshot: Lauren Saunders Discusses Earned Wage Access. Early Payday or Payday Loan?

July 27, 2023

199% Auto Repair, Pet Loans Face Crackdown by DC, States

July 12, 2023

American Banker: Colorado’s new law on high-cost lending may be a model for other states

June 7, 2023

New Colorado Law a Model for Stopping Predatory Rent-a-Bank Lending

June 6, 2023

American Banker: Banks now offer payday-loan alternatives. How many people use them?

May 21, 2023

CA, CT, DC Issue Orders Against Fintech Payday Loans that Solicit “Tips”

May 18, 2023

Consumer Bureau Proposes $8 ‘Safe Harbor’ on Credit Card Late Fees

May 3, 2023

Amicus Briefs

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Opportunity Financial LLC v. the Department of Financial Protection and Innovation for the State of California

April 21, 2022

Amicus Brief Opposing Demurrer in OppFi v. DFPI

March 7, 2022

Amicus Brief in People of the State of California v. FDIC

April 29, 2021

Amicus Brief in People of California v. Office of the Comptroller of the Currency

December 17, 2020

Amicus Brief in Lacewell v. OCC

July 30, 2020

Amicus Brief in David Petersen, Et Al v. Chase Card Funding, LLC

February 7, 2020

Amicus Brief: Fulford v. Avant

January 13, 2020

Amicus Brief in Martha Fulford v. Marlette Funding

January 13, 2020

Amicus Brief: Midwest Title Loans v. Mills

January 28, 2010

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