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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

Report: State Installment Loan Laws Leave Borrowers Vulnerable in New Wave of Predatory Lending

NCLC's 50 State Survey Analyzes Strengths and Gaps in Consumer Protections,  JULY 30, 2015 (Contacts
Full analysis of the laws of 50 states and Washington, D.C., plus maps, charts and tables as well as the complete list of recommendations are available at: http://bit.ly/1LXA9mc

(BOSTON) Payday lenders are moving into the installment loan market, and state laws vary greatly in whether they protect borrowers from unaffordable rates on longer term loans, according to a new report from the National Consumer Law Center (NCLC). The report analyzes the strengths and weaknesses of the laws in the 50 states and the District of Columbia that regulate installment loans, including loans structured as credit card cash advances or other open-end lines of credit. "In theory, installment loans can be safer and more affordable than balloon payment payday loans. But states need to be vigilant to prevent the growth of larger and longer predatory loans that can create a debt trap that is impossible to escape," said Carolyn Carter, director of advocacy at the National Consumer Law Center and co-author of Installment Loans: Will States Protect Borrowers from a New Wave of Predatory Lending?.
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Debt Collection Communications: Protecting Consumers in the Digital Age


NCLC Report Urges CFPB to Eliminate Abusive Collection Communications
June 30, 2015 (Contacts)

DOWNLOAD the report: http://bit.ly/1LQxpDK

(BOSTON) When Congress passed the Fair Debt Collection Practices Act (FDCPA) in 1977, personal computers and cell phones were cutting-edge technology, and robocalling was non-existent. Now that these communication tools are the norm and traditional problems of abusive communications remain rampant, the Consumer Financial Protection Bureau (CFPB) should adopt regulations to better protect consumers.

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Credit Invisibility and Alternative Data: The Devil is in the Details

A great deal of attention has recently focused on the issue of "credit invisibility." The Consumer Financial Protection Bureau (CFPB) released a study in May 2015 finding that 26 million Americans (or about 1 in 10) do not have a credit history, and another 18 million are unscorable because their histories are too scant ("thin") or old. The CFPB study also found that African American, Hispanic, and low-income consumers are more likely to have no credit history or to be unscorable. Read more >>>