Press Release Archives

CFPB Action Against TransUnion Shows Need for Public Credit Registry; Consumers Warned to Avoid Credit Monitoring

April 12, 2022

April 12, 2022 WASHINGTON – In response to the Consumer Financial Protection Bureau’s announcement today that it is filing a lawsuit against TransUnion and its longtime executive John Danaher for violating a 2017 law enforcement order, advocates at the National Consumer Law Center issued the following statements: “This type of flagrant violation is typical behavior…

Consumer Advocates Applaud Biden Administration’s New Actions to Lessen the Burden of Medical Debt

April 11, 2022

April 11, 2022 WASHINGTON – In response to the Vice President Harris’ announcement today that the White House will be taking measures to increase consumer protections and lessen the burden of medical debt, advocates at the National Consumer Law Center issued the following statements: “We appreciate the White House’s efforts to improve protections for consumers…

The System is Still Broken: 115+ Organizations Renew Push for Overdue Reforms to Income-Driven Repayment (IDR)

April 7, 2022

April 7, 2022 The System is Still Broken: 115+ Organizations Renew Push for the Biden Administration to Aid Millions of Student Loan Borrowers with Overdue Reforms to Income-Driven Repayment (IDR) IDR program has failed borrowers worse than previously known to the public, organizations contend, calling on the Education Secretary to fulfill broken promises WASHINGTON —…

Advocates Support Extension of Student Loan Payment Pause and Praise Removal of Loans from Punitive Default System

April 6, 2022

April 6, 2022 WASHINGTON – Today, in response to the Department of Education’s announcement that it will extend the student loan payment pause through August 31 and that it will remove federal student borrowers from default and give them a fresh start in repayment when the pause ends, Abby Shafroth, interim director of the National…

Advocates Caution that Payment Pause Should be Extended Until Student Loan System is Fixed

April 5, 2022

April 5, 2022 WASHINGTON – Today, in response to reports that Biden Administration officials are considering extending the student loan payment pause until the end of August 2022, Abby Shafroth, interim director of the National Consumer Law Center’s Student Loan Borrower Assistance Project, issued the following statement: “The Biden Administration should absolutely extend the payment…

Statement in Response to CFPB’s Sanctioning of EdFinancial for Deceiving Student Loan Borrowers

March 30, 2022

March 30, 2022 The student loan servicer lied to borrowers with Federal Family Education Loans (FFEL) about their eligibility for Public Service Loan Forgiveness WASHINGTON – Today, in response to the Consumer Financial Protection Bureau’s (CFPB) sanctioning of student loan servicer EdFinancial for deceiving student loan borrowers and misrepresenting their forgiveness and repayment options, Kyra…

Groups Urge CFPB to Treat “Buy Now Pay Later” Products Like Credit Cards and Protect Consumers from Harmful Practices

March 28, 2022

March 28, 2022 WASHINGTON – More than 75 consumer, housing, civil rights, legal services, faith, community, small business, student borrower, and public interest organizations submitted a joint comment letter to the Consumer Financial Protection Bureau (CFPB) concerning Buy Now, Pay Later (BNPL) credit products. The groups are alarmed by the lack of regulation of this…

Consumer Advocates Cheer Removal of Most Medical Debt from Credit Reports

March 18, 2022

March 18, 2022 Credit Bureaus Should Remove Remaining Debts Owed by the Sickest and Most Vulnerable Consumers WASHINGTON – Today, advocates at the National Consumer Law Center applauded a move by the Big Three credit bureaus (Equifax, Experian, and TransUnion) to change how they report medical debt, which will result in the removal of nearly…

Advocates Applaud House Passage of the FAIR Act

March 17, 2022

The FAIR Act would restore access to the courts for consumers, servicemembers, workers, and small business owners harmed when they shop at, bank with, borrow from, work for, or do other business with companies that violate the law.

New Report Examines Impact of Medical Debt on Black Families

March 14, 2022

March 14, 2022 Medical debt remains a looming crisis that disproportionately affects Black households and communities WASHINGTON – A new report from the National Consumer Law Center, The Racial Health and Wealth Gap: Impact of Medical Debt on Black Families, examines the intersection between the racial health gap and the racial wealth gap and the…

President Biden’s Announcement on Veterans' Medical Debt Will Lift a Burden from Veteran Families

March 1, 2022

Administration Removes Barriers to Cancelation of VA Medical Debt WASHINGTON – In tonight’s State of the Union Address, President Biden may speak on today’s announcement that the Veterans’ Administration (VA) will simplify the process for claiming medical debt forgiveness for veterans. Advocates at the National Consumer Law Center (NCLC) issued the following statements: “Administrative mazes…

Statement on U.S. Department of Education’s Approval of $415M in Borrower Defense Claims

February 16, 2022

February 17, 2022 Nearly 16,000 borrowers will see their loans discharged as a result of the Department’s findings BOSTON – Today, in response to the Department of Education’s announcement of findings that additional federal student loan borrowers who attended DeVry University, Westwood College, and ITT Tech will be eligible to discharge their federal student loans…

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