Press Release Archives

NCLC Advocates Applaud CFPB Bulletin To Prevent Unlawful Medical Debt Collection and Credit Reporting

January 13, 2022

January 13, 2022 No Surprises Act Brings New Consumer Protections From Surprise Medical Bills WASHINGTON — In response to the Consumer Financial Protection Bureau’s issuance of a bulletin today, reminding debt collectors and credit bureaus of their legal obligations under the No Surprises Act, which took effect on January, 1, 2022, advocates at the National…

Borrower Advocates Demand that Education Department Restore the Promise of Income-Driven Repayment

January 12, 2022

January 12, 2022 Advocates Outline Path for the Biden Administration to “Do its Part” in Fixing IDR WASHINGTON — Today, the Student Borrower Protection Center, Center for Responsible Lending, and National Consumer Law Center released a whitepaper outlining why the U.S. Department of Education (ED) must act now, before the payment pause ends, to provide…

NCLC, EPIC Urge FCC to Hold Voice Service Providers Accountable for Transmitting Illegal Robocalls

January 11, 2022

January 11, 2022 Groups urge FCC to limit the damage that gateway providers cause by allowing illegal robocall and scam calls to proliferate on their networks. WASHINGTON — The Electronic Privacy Information Privacy Center and the National Consumer Law Center filed comments Monday in response to a Notice of Proposed Further Rulemaking issued by the…

NCLC Advocate Applauds CFPB Report Spotlighting Deficiencies in Credit Bureaus’ Complaint Handling; Calls for Fundamental Reform of Troubled Industry

January 6, 2022

January 6, 2022 BOSTON – In response to yesterday’s release by the Consumer Financial Protection Bureau (CFPB)’s of a report detailing the failures of the Big Three credit bureaus [Equifax, Experian and TransUnion] in responding to consumer complaints, Chi Chi Wu, staff attorney at National Consumer Law Center, issued the following statement: “The CFPB is…

NCLC Advocate Applauds the Biden Administration Extension of the Pause on Federal Student Loan Payments, but More Needs to Be Done

December 22, 2021

December 22, 2021 In response to the Biden Administration extending the pause on federal student loans payment until May 1, 2022, Abby Shafroth, interim director of the National Consumer Law Center’s Student Loan Borrower Assistance Project, issued the following statement: “Today’s announcement means that over the holidays, struggling student loan borrowers will not be forced…

Broad Coalition Urges CFPB To Examine Fintech Credit Products and Fee Models

December 21, 2021

December 21, 2021 79 Groups Ask CFPB to Provide Much Needed Oversight for Emerging Credit Products The Consumer Federation of America, Center for Responsible Lending, National Consumer Law Center, Student Borrower Protection Center, and 75 additional organizations called for Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra to carefully examine fintech credit products and fee…

CFPB Must Protect Consumers From Fraud in Payment Systems

December 21, 2021

December 21, 2021 Today, 65 consumer, civil rights, faith, legal services, and community groups submitted comments to the Consumer Financial Protection Bureau (CFPB) in response to its inquiry into certain business practices of six large technology companies operating payments systems in the United States. The groups urged the CFPB to require person-to-person (p2p) payment providers…

Advocates Urge CFPB to Prevent Rental Debt From Becoming a Barrier to Housing

December 14, 2021

December 14, 2021 New Policy Brief Highlights Legal Aid and Non-Profit Attorneys’ Experiences Representing Clients With COVID-19 Related Rental Debt WASHINGTON– Today, advocates at the National Consumer Law Center sent to the Consumer Financial Protection Bureau a policy brief, Assisting Consumers with Rental Debt During COVID-19: Legal Aid and Non-Profit Attorneys Share Their Experiences, and…

NCLC’s Pizor Applauds CFPB Final Rule to Facilitate the Transition from LIBOR

December 7, 2021

December 7, 2021 The New Rule Will Provide Protections for Borrowers With Adjustable Interest Rate Loans WASHINGTON– Today, in response to the Consumer Financial Protection Bureau’s (CFPB) announcement that it has finalized a rule facilitating the transition away from use of the LIBOR interest rate index for adjustable rate loans, Andrew Pizor, staff attorney at…

Advocates Praise Cap One End to Overdraft, NSF Fees

December 1, 2021

December 1, 2021 CFPB should enact rule requiring all banks, credit unions to end abusive, high-cost overdraft loans WASHINGTON – Advocates at the National Consumer Law Center praised today’s announcement by Capital One Bank that it is completely eliminating all overdraft and nonsufficient funds (NSF) fees on all of its accounts – calling on other…

Advocates Applaud DC Predatory Rent-a-Bank Lending Settlement

November 30, 2021

November 30, 2021 WASHINGTON – Advocates at the National Consumer Law Center applauded District of Columbia Attorney General Karl Racine’s announcement today that DC has reached a settlement with predatory rent-a-bank lender OppFi that requires it to abide by the District’s interest rate limits and to provide over $2 million in relief to wronged consumers.…

Important Investments in Homeownership and Families in Build Back Better

November 19, 2021

November 19, 2021 President Biden’s Build Back Better Act Passes House, More Must Be Done to Protect Expanded Child Tax Credits WASHINGTON – Consumer advocates today praised the House passage of the Build Back Better Act. Along with the extension of the expanded Child Tax Credit and other big ticket items, the bill also includes…

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