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NCLC in the News

Select media clips. Journalists interested in speaking with an expert at the National Consumer Law Center should contact Jan Kruse (This email address is being protected from spambots. You need JavaScript enabled to view it. or 617.542,8010).

Press Releases

Statement of National Consumer Law Center’s Lauren Saunders Regarding the Regulatory Accountability Act of 2017

FOR IMMEDIATE RELEASE: APRIL 26, 2017
National Consumer Law Center contacts: Lauren Saunders (This email address is being protected from spambots. You need JavaScript enabled to view it.), Stephen Rouzer (This email address is being protected from spambots. You need JavaScript enabled to view it.), or Jan Kruse (This email address is being protected from spambots. You need JavaScript enabled to view it.)


Statement of National Consumer Law Center’s Lauren Saunders Regarding the Regulatory Accountability Act of 2017

Bill would promote Wall Street’s interests while exposing American families to financial, health and safety threats


Washington
- Legislation introduced in Congress today, the Regulatory Accountability Act of 2017, would favor Wall Street and other industry interests over protections for the American public, according to advocates at the National Consumer Law Center.

"This bill would rig the system in favor of Wall Street banks and companies that have dangerous products, making it easier for them to block rules that protect the public from abusive financial practices and health and safety threats,” said Lauren Saunders, associate director of the National Consumer Law Center.

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Consumer Financial Protection Bureau Goes to Bat for Military Families Again

FOR IMMEDIATE RELEASE: APRIL 26, 2017
Contacts: Lauren Saunders (This email address is being protected from spambots. You need JavaScript enabled to view it.) or Jan Kruse (This email address is being protected from spambots. You need JavaScript enabled to view it.); 617.542.8010

 

Consumer Financial Protection Bureau Goes to Bat for Military Families Again

Auto lender specializing in loans to servicemembers is fined $1.25 million

Washington, D.C. — Today, the Consumer Financial Protection Bureau (CFPB) took action against Security National Automotive Acceptance Company (SNAAC), an auto lender with headquarters in Ohio and operating in more than two dozen states that specializes in loans to servicemembers, for violating a CFPB consent order. In 2015, the CFPB ordered SNAAC to pay penalties for illegal debt collection tactics, including making threats to contact servicemembers’ commanding officers about debts and exaggerating the consequences of not paying. SNAAC violated the 2015 order by failing to provide more than $1 million in refunds and credits, affecting more than 1,000 consumers. The consent order requires SNAAC to make good on the refunds and credits it owes and pay an additional $1.25 million penalty.

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Statement of National Consumer Law Center’s Lauren Saunders on Introduction of Wrong Choice Financial Reform Rollback Legislation

FOR IMMEDIATE RELEASE: APRIL 26, 2017
Contacts: Lauren Saunders (This email address is being protected from spambots. You need JavaScript enabled to view it.); Jan Kruse (This email address is being protected from spambots. You need JavaScript enabled to view it.) or 617.542.8010

Statement of National Consumer Law Center’s Lauren Saunders on Introduction of Wrong Choice Financial Reform Rollback Legislation

(WASHINGTON) House Financial Services Committee Chairman Jeb Hensarling (R-Tex), has announced that the Committee will hold a hearing today to discuss the introduction of sweeping legislation that would repeal essential financial reforms passed under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, as well as longstanding financial protections that go back decades. Also today, the National Consumer Law Center, on behalf of its low-income clients, sent a letter to members of the House of Representatives strongly opposing the misnamed Financial CHOICE Act of 2017, noting that “it is breathtaking in its assault on ordinary Americans, responsible companies who want a level playing field, and safeguards for the economy as a whole.”

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NCLC Advocate Statement re: Education Secretary Withdrawal of Critical Student Loan Borrower Protections

FOR IMMEDIATE RELEASE: APRIL 11, 2017 || CONTACTS: Persis Yu (pyu(at)nclc.org) or Jan Kruse (jkruse(at)nclc.org); 617.542.8010

Boston - Today, U.S. Secretary of Education Betsy DeVos formally withdrew several policies aimed at curbing abuses by federal student loan servicers. Those policy directives focused on four areas: helping borrowers get accurate and actionable information, providing consistent service, requiring servicers to be accountable, and providing transparency.

Statement of Persis Yu, director of the National Consumer Law Center’s Student Loan Borrower Assistance Project:

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NetSpend Stealthily Settles FTC Charges Ahead of Fight Over CFPB Prepaid Card Rules

FOR IMMEDIATE RELEASE: APRIL 3, 2017 || Contacts: Lauren Saunders (lsaunders(at)nclc.org) or 202.595.7845; Jan Kruse (jkruse(at)nclc.org) or 617.542.8010

(WASHINGTON) In an announcement released late Friday night by the Federal Trade Commission (FTC), the prepaid card company NetSpend settled charges that the company deceptively claimed that people would have “instant access” to deposited funds loaded onto its prepaid cards while blocking many from accessing their money for weeks or longer. The company agreed to reimburse $53 million of funds that consumers were never able to access and to ensure that it did not deceive consumers about access to funds or registration requirements.
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Big Changes Burden Taxpayers

FOR IMMEDIATE RELEASE: APRIL 3, 2017 || CONTACTS: NCLC: Chi Chi Wu (cwu(at)nclc.org) or Jan Kruse (jkruse(at)nclc.org); 617.542.8010, Consumer Federation of America: Michael Best (mbest(at)consumerfed.org); 202.939.1009

New Report Analyzes Delays and Challenges Faced by Taxpayers This Tax Season

(WASHINGTON) As the tax season enters its final push, advocates from the National Consumer Law Center (NCLC) and Consumer Federation of America (CFA) issued their annual report on tax-time consumer issues Big Changes Burden Taxpayers: New Law Delays Refunds and Drives Demand for Loans; Immigrant Taxpayers Face Challenges. The report discusses problems faced by taxpayers, including:

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Advocates Applaud CFPB for Enforcement Action against Experian for Deceptive Marketing of Credit Scoring Products

FOR IMMEDIATE RELEASE: MARCH 23, 2017 || Contacts: Chi Chi Wu (cwu(at)nclc.org) or Jan Kruse (jkruse(at)nclc.org); 617.542.8010

(BOSTON) Today, the Consumer Financial Protection Bureau (CFPB) took action against Experian, ordering the company to pay a civil penalty of $3 million over its sale of credit scoring products. The CPFB alleged that Experian, one of the nation’s three major credit reporting agencies, deceived consumers by claiming the credit scores it marketed to consumers were used by lenders, when in fact, the scores were never used to make credit decisions.

“This is the latest step among several that the Consumer Financial Protection Bureau has recently taken to protect consumers from abuse by credit reporting agencies;. the CFPB is on a roll,” said National Consumer Law Center staff attorney Chi Chi Wu. “American consumers are so much the better off for the Consumer Financial Protection Bureau’s efforts to clean up the credit reporting industry.”

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