Media Center

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

U.S. House Financial Services Committee Votes to Reduce Credit Bureau Consumer Protections

FOR IMMEDIATE RELEASE: DECEMBER 13, 2017 || Contacts: Chi Chi Wu (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

H.R. 435 Reduces Consumer Control over Personal Data collected by Equifax, Experian, and TransUnion

Boston – Today, the Financial Services Committee of the U.S. House of Representatives voted to approve a bill that strips some of the few privacy rights that consumers have in deciding whether their information is sent to credit bureaus like Equifax.

“Given the angst that members of Congress expressed at the Equifax Congressional hearings over the lack of control consumers have when it comes to the credit bureaus, it is ironic that the House Financial Services Committee has just passed a bill that will actually reduce consumers’ ability to have a say over their own data,” said National Consumer Law Center staff attorney Chi Chi Wu. “They passed this bill despite the opposition of 40 consumer, civil rights, and other advocacy groups.”

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Consumer Advocates File in Support of Acting CFPB Director Leandra English

FOR IMMEDIATE RELEASE: DECEMBER 8, 2017 || Contact: Jan Kruse, This email address is being protected from spambots. You need JavaScript enabled to view it. or (617) 542-8010

Agency’s Independence Is Necessary to Its Mission, Groups Say

WASHINGTON, D.C. – The U.S. Consumer Financial Protection Bureau’s (CFPB or Consumer Bureau) independence from external political influence is crucial to the agency’s mission of protecting consumers, 10 groups told a court today in an amicus brief filed in the U.S. District Court for the District of Columbia.

The groups are Public Citizen, Americans for Financial Reform, Center for Responsible Lending, Consumer Action, National Association of Consumer Advocates (NACA), National Consumer Law Center (NCLC), National Consumers League, National Fair Housing Alliance (NFHA), Tzedek DC and U.S. Public Interest Research Group Education Fund (U.S. PIRG Education Fund).

In the case, Deputy CFPB Director Leandra English is seeking a preliminary injunction allowing her to serve as acting director of the CFPB while litigation over the lawful acting director – herself or U.S. Office of Management and Budget Director Mick Mulvaney – proceeds. In their amicus filing, the groups explain that the public has a strong interest in English serving as the acting director while the court further considers the legal issues.

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Congress Moves to Protect Predatory Payday Lenders’ Unaffordable 300% Loans

FOR IMMEDIATE RELEASE: DECEMBER 1, 2017 || Contacts: Lauren Saunders This email address is being protected from spambots. You need JavaScript enabled to view it. or (202) 595-7845; or Jan Kruse This email address is being protected from spambots. You need JavaScript enabled to view it. or (617) 542-8010)

Resolution Filed to Block Consumer Bureau’s Ability-to-Pay Rule

Washington - Today, a resolution was filed in the U.S. House of Representatives that would block new consumer protections adopted by the Consumer Financial Protection Bureau that would rein in predatory 300% annual percentage rate (APR) payday loans.

“Americans of all political persuasions should be outraged at the members of Congress who are trying to block modest protections for predatory 300% loans that put families into a debt trap,” said Lauren Saunders, associate director of the National Consumer Law Center. “Ordinary people, whether Republican or Democrat, liberal or conservative, support reform of 300% loans that prey on working families living paycheck to paycheck. The consumer watchdog’s rule adopts common-sense protections that responsible lenders already follow by considering the borrower’s ability to repay the loan. Congress should not side with predatory lenders over Americans.”

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House Education Bill Ends Key Student Protections that Will Lead to a Lifetime of Debt

Persis Yu, director of National Consumer Law Center’s Student Loan Borrower Assistance Project, issued the following statement.:

“The Higher Education Bill introduced today by House Republicans would make it more difficult and more expensive for millions of Americans to repay their student loans. It would also demolish safeguards that prevent low-quality schools from using abusive and predatory tactics to line their pockets with taxpayer dollars at the expense of students working to build a better life for their families.

“This bill would make it impossible for many low-income families to ever pay back their student loans by replacing the existing income-driven repayment plans with a much harsher plan. Under the Income Based Repayment plan outlined in the bill, it could take a low-income borrower with just $30,000 in student loan debt an incredible 138 years to repay their student loans. Borrowers should not have to take their student loan debt to the grave. Additionally, new minimum monthly payment amounts will push borrowers with the least income into default. Borrowers need real help paying their student loans; this bill severely misses the mark.”



Statement of National Consumer Law Center’s Lauren Saunders Regarding Appointment of Mulvaney as Interim Director of Consumer Bureau

FOR IMMEDIATE RELEASE: NOVEMBER 25, 2017 || Contacts: Lauren Saunders, This email address is being protected from spambots. You need JavaScript enabled to view it., (202) 595-7845, Jan Kruse (This email address is being protected from spambots. You need JavaScript enabled to view it.)

Washington, D.C. – Last night, President Trump announced the purported appointment of Office of Management and Budget director Mick Mulvaney as interim director of the Consumer Financial Protection Bureau. The following statement is by National Consumer Law Center Associate Director Lauren Saunders.

“President Trump’s purported appointment of Mick Mulvaney as interim director of America’s consumer watchdog is an illegal affront to the American public. Mulvaney has said that he would like to ‘get rid of’ the consumer bureau and has called the watchdog that has returned nearly $12 billion to 29 million Americans a ‘joke ... in a sad, sick kind of way.’ But it is no joke to ordinary families to attempt to defang the one agency in Washington with the tools and independence to take on the Wall Street banks, giant credit reporting agencies, and predatory lenders that abuse the American public.

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CFPB Director Cordray Shaped a Critical Consumer Watchdog

FOR IMMEDIATE RELEASE: NOVEMBER 24, 2017 || 
Contacts: Lauren Saunders, This email address is being protected from spambots. You need JavaScript enabled to view it., (202) 595-7845, Jan Kruse, This email address is being protected from spambots. You need JavaScript enabled to view it.

Statement Regarding Richard Cordray Stepping Down Today as Director of the Consumer Financial Protection Bureau

Washington, D.C. - Today, Richard Cordray stepped down as director of the Consumer Financial Protection Bureau. The following statement is by National Consumer Law Center Associate Director Lauren Saunders.

“Under Richard Cordray’s leadership, the Consumer Financial Protection Bureau has been a critical force on the side of ordinary Americans who were cheated by big banks, abused by credit reporting agencies, or trapped in built-to-fail loans that turned the dream of owning a home into a nightmare. Director Cordray was instrumental in creating an effective consumer watchdog on the side of ordinary people to push back against financial wrongdoers and level the playing field for honest businesses. Under Director Cordray’s leadership, Americans’ pocketbooks have been safer, including those of older Americans, veterans, servicemembers, students, and families struggling paycheck to paycheck. 

“The Consumer Financial Protection Bureau was created to fix a rigged system where a zeal for deregulation and laissez faire capitalism allowed predatory financial practices to run amok, ruin millions of American families, and destroy our economy. Director Cordray saw that the Consumer Bureau lived up to its mission. In just a few years, the Consumer Financial Protection Bureau has made tremendous progress in writing fair rules and enforcing the law to attack abuses that impact mortgages, credit cards, student loans, payday loans, and more.

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Statement of National Consumer Law Center Executive Director Rich Dubois Regarding Richard Cordray Stepping Down as Director of the Consumer Financial Protection Bureau

FOR IMMEDIATE RELEASE: NOVEMBER 15, 2017 || Contact: Jan Kruse (This email address is being protected from spambots. You need JavaScript enabled to view it.)

Washington, D.C. - Today, Richard Cordray announced that he will step down as director of the Consumer Financial Protection Bureau at the end of November 2017. The following statement is by National Consumer Law Center Executive Director Rich Dubois.

“Under Richard Cordray’s leadership, the Consumer Financial Protection Bureau has returned more than $12 billion dollars to 29 million Americans who were cheated by predatory lenders, fraudsters, and wrongdoing by financial companies, big and small. As the first director of America’s only agency that focuses entirely on protecting ordinary people in their financial lives, Director Cordray has been a strong voice for the ’forgotten man and woman,’ including older Americans, veterans, servicemembers, students, and average families. His calm, even-handed, and thoughtful leadership has set the template for the next director.
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FCC Proposed Changes Would Undermine Lifeline, a Key Program that Helps to Close the Digital Divide

FOR IMMEDIATE RELEASE: NOVEMBER 14, 2017 || Contacts: Olivia Wein (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

Nearly 70% of Americans Who Use Lifeline Service Would Lose Affordable Phone and Broadband Access from their Current Provider

Washington, D.C. – On Thursday, Nov. 16, the FCC is scheduled to vote on a combined set of orders and proposals that, if adopted, would destabilize and impair the federal Lifeline program and leave many of the most vulnerable people in the country without access to affordable communications. The Lifeline program provides essential, affordable voice and data service for low-income families who use the program for daily life essentials, including searching for jobs, completing homework, and communicating with employers, healthcare professionals, and teachers. Lifeline is one of four federal Universal Service programs and the only one targeted directly to helping low-income households, in all parts of the nation, overcome the cost barrier to connectivity.

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