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CFPB and DOJ Sue Predatory Mortgage Lender for Reverse Redlining, Exploiting Consumers With Limited English Proficiency

December 21, 2023

DOJ and CFPB jointly sue Colony Ridge for operating an illegal land sales scheme that targeted low-income Hispanic consumers.

Chicago Sun-Times: New discount rate system a ‘game changer’ for Chicagoans struggling with heating bills, advocates say

December 20, 2023

Appearing in the Chicago Sun-Times on Dec. 4, 2023, Mitchell Armentrout quotes NCLC senior attorney Karen Lusson in a look at a new discount rate system that’s expected to help prevent more utility shut-offs in lower-income neighborhoods across Chicago. “This is an absolute game-changer for people struggling with their heating bills in brutal Chicago winters.”…

American Banker: States must protect consumers from high-cost fintech cash advances

December 20, 2023

Advocates discuss how states are starting to grapple with purportedly new categories of small-dollar loans: earned wage advances and other types of fintech cash advances.

Digital Library: 2023 in Review on the NCLC Digital Library

December 19, 2023

The NCLC Digital Library keeps you current with authoritative analysis of all of the latest developments in consumer law.

Senate Introduces 36% Rate Cap Bill to Curb High-Cost Loans, Junk Fees

December 15, 2023

Senator Jack Reed (D-RI) introduced the Predatory Lending Elimination Act, which extends to veterans and all consumers the 36% annual percentage rate cap found in the Military Lending Act and prevents the use of junk fees to hide high-cost loans.

Coalition Applauds Congressional Efforts to Restore Consumer Rights

December 14, 2023

Today, a coalition of consumer advocacy organizations applauded Congressional efforts to restore consumer rights in financial products.

FCC Rulemaking Will Protect Consumers from Invasive Robocalls

December 13, 2023

Advocates applaud the Federal Communications Commission (FCC) for voting today to clarify its rules on telemarketing calls by unequivocally prohibiting the abuse of consumer consent by lead generators.

Consumer Advocates Applaud FTC for Moving Forward with CARS Rule

December 12, 2023

Today, the Federal Trade Commission (FTC) announced its final rule targeting deceptive conduct in the sale and financing of motor vehicles, titled the “Combatting Auto Retail Scams” (CARS) Rule.

Will States Let Debt Collectors Push Families Into Poverty as Economic Uncertainty Looms?

December 11, 2023

Annual Report Grades the Strength of State Protections for Family Finances; No State Earns an A; Georgia, Kentucky, Michigan, New Jersey, and Utah Get Failing Grade

Digital Library: Widespread FDCPA Violations in Collection of Medical Debt

December 8, 2023

A November 2023 CFPB report on the Fair Debt Collection Practices Act (FDCPA) highlights the untapped potential of FDCPA claims where debt collectors collect on medical debt not owed or owed in a lesser amount. The report describes how tens of millions of Americans face medical debt collection—somewhere between 17% and 35% of all adults have…

Nearly 80 Consumer, Energy, Housing, Health, Manufacturing, and Environmental Organizations Call on FHFA to Lower Housing Costs for Renters and Homeowners by Updating Energy Codes

November 30, 2023

Absent the new energy code, low-income households will continue to be saddled with decades of energy waste, high utility bills and poor resilience, making housing less affordable long-term.

California Should Not Delay Protections for Fintech Cash Advances

November 28, 2023

The California Department of Financial Protection and Innovation (DFPI) should restore cost limits for earned wage advances and other fintech cash advances.

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