Courts Have Unanimously Rejected Claims that Payday Loan Apps Do Not Offer Loans and That Their Fees Are Not Finance Charges WASHINGTON – The advisory opinion issued today by the Consumer Financial Protection Bureau (CFPB) that claims that so-called “earned wage access products” offered through certain payday loan apps are not loans, and that the…
Read More about Earned Wage Payday Loans are Loans, Despite CFPB’s Claim
On State Report Cards, Georgia, Indiana, Kentucky, Michigan, Mississippi, Missouri, New Jersey, Utah, and Wyoming Get Fs; No State Receives an A
Proposed Rule Would Decimate Fair Lending Protections and Make Buying a Car or Home Harder
Predatory lenders use rent-a-bank schemes to evade state usury limits and charge astronomical rates—100%, 500% and even higher—that are illegal in as many as 45 states. In a classic rent-a-bank scheme, a high-cost lender “rents” a state bank chartered in a state without usury limits for banks and then evades other states’ usury caps by…
Read More about Digital Library: Tenth Circuit Limits Rent-a-Bank Schemes
E.O. Ignores that U.S. Constitution Preserves States’ Role as First Responder WASHINGTON – The executive order President Trump issued yesterday aimed at blocking states from addressing artificial intelligence (AI) risks flies in the face of the critical and constitutional role states have in protecting the public, according to advocates at the National Consumer Law Center. It…
Read More about AI Order Seeks to Block States from Protecting People from Big Tech Risks
AI sandbox bill would lead to lending discrimination, consumer harm, and financial instability.
Proposed Settlement Terminates Hopes of Loan Forgiveness for Millions and Will Lead to Higher Bills for 7M+ Borrowers WASHINGTON – Today, the U.S. Department of Education announced a proposed settlement that would end the Saving on a Valuable Education (SAVE) Plan, which offered millions of federal student loan borrowers lower monthly payments and a pathway…
In an op-ed for The Hill that ran on November 26, 2025 by Rebecca B. Bond, former chief of the Disability Rights Section, Civil Rights Division, in the U.S. Department of Justice and Diane Thompson, deputy director and chief advocacy officer at the National Consumer Law Center discuss a dry, technical memo that declared the end of…
Read More about The Hill: The Trump administration takes a wrecking ball to rulemaking
Appearing in the Associated Press on November 8, 2025, Marc Levy and Jesse Bedayn talked to Jen Bosco, Managing Director of Energy Advocacy at the National Consumer Law Center about how voter anger over the cost of living is hurtling forward into next year’s midterm elections, when pivotal contests will be decided by communities that…
Appearing in American Banker on November 11, 2025, Kevin Wack talks to NCLC Associate Director and Director of Federal Advocacy Lauren Saunders about a federal appeals courts finding that Colorado has the authority to apply its own interest rate caps to state-chartered banks from the other 49 states when they make loans to Coloradans. The decision…
Read More about American Banker: Ruling on high-cost loans has nationwide implications
Appearing in CNBC on November 4, 2025, Ryan Ermey talks to Chi Chi Wu, Director of Consumer Reporting and Data Advocacy at the National Consumer Law Center about how rent payments have become a consideration on a growing number of American credit reports. Wu warns that for certain renters, the risk of reporting a missed…
Appearing in the Boston Globe on November 4, 2025, Camilo Fonseca interviews NCLC Senior Attorney John Van Alst for coverage of how for many Americans, buying and owning a car has become harder than it’s been in decades. And buyers are taking on larger loans than ever before. “The trends are ‘very alarming, particularly for…
Please support NCLC's work to advance consumer rights and economic justice with a tax-deductible contribution today!
Donate
