The CFPB found that the 2020 Opinion’s analysis of what constitutes “credit” under TILA was “significantly flawed” and that the Opinion, which was limited to completely free advances, had been misunderstood and misused to support claims that EWAs are not credit.
Read More about CFPB Rescinds 2020 Advisory Opinion on Earned Wage Advances
The Biden administration announced that it will provide $5.75 billion in relief to over 345,880 borrowers with outstanding loans borrowed to attend Ashford University, Drake College of Business, and schools owned by the Center for Excellence in Higher Education (CEHE).
NCLC and New America Foundation Applaud Protection of Social Security Benefits from Seizure to Collect Student Debt
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Read More about Tell Congress: Medical Debt Must Get Off Credit Reports – Support CFPB Rule
Appearing in Bloomberg Law on January 7, 2025, Evan Weinberger interviews Chi Chi Wu to discuss action to scrap medical debt from consumer credit reports and how Republican lawmakers and the credit reporting industry will likely push to overturn the changes. “Medical debt has damaged the financial record of tens of millions for far too…
Read More about Bloomberg Law: Medical Debt Struck From Credit Reports in Final CFPB Rule
Appearing in the Los Angeles Times on January 7, 2025, Laurence Darmiento interviews NCLC Senior Attorney Chi Chi Wu for coverage of a lawsuit against Experian, one of the nation’s largest credit bureaus, filed by the Consumer Financial Protection Bureau for allegedly improperly handling consumer disputes. “It’s about time a credit bureau was held accountable…
Appearing in American Banker on January 6, 2025, Kate Berry interviews NCLC Associate Director Lauren Saunders for coverage of how the incoming Trump administration is expected to seek the repeal of some regulations finalized by the Consumer Financial Protection Bureau. On the chopping block are rules finalized by the CFPB since August, the six-month lookback…
Read More about American Banker: Recent CFPB rules face repeal with no return under Trump
Appearing in USA Today on December 29, 2024, Russ Wiles interviewed NCLC Senior Attorney Carla Sanchez-Adams to discuss the CFPB’s new rule to limit costly overdraft fees and caution that it faces the risk of being overturned by Congress with simple majority votes in the Senate and House, with limited debate. Overdraft fees are “a…
Read More about USA Today: Here are your top tips for a financially healthy 2025
Originally appearing in ProPublica on December 23, 2024, Joel Jacobs and Megan O’Matz interviewed NCLC Associate Director Lauren Saunders for coverage of the tribal, high-interest lending industry. Consumer advocates do not expect that the second Trump administration will do anything to crack down on abusive lending practices linked to tribes or any other form of…
This NCLC Digital Library article examines the most significant 2024 FDCPA developments, including summaries of all reported circuit court of appeals decisions, the latest approaches to dealing with FDCPA standing problems, CFPB guidance on collection of medical debt, and important FDCPA claims relating to new legislation limiting credit reporting of medical debt.
Experian Accused of Improperly Investigating Disputes, Threatening Consumers’ Access to Credit
Read More about CFPB Sues Experian Over Failure to Remove Errors on Credit Reports
This article lists federal and state consumer law rights scheduled to go into effect or expire during the period from December 1, 2024, through January 1, 2026.
Read More about Digital Library: New Consumer Law Rights Taking Effect in 2025
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