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TIME: Defrauded? Banks May Not Give Your Money Back

June 13, 2024

Appearing in TIME Magazine on June 13, 2024, Alana Semuels interviews NCLC Senior Attorney Carla Sanchez-Adams in coverage of consumer protections for checks and wire transfers, including how long consumer have to report fraudulent transactions. Some bank-account agreements shorten the grace period for reporting fraudulent transactions to 14 days from when your bank statement was…

PBS: How banning medical debt from credit reports could help millions of Americans

June 12, 2024

Appearing in PBS News on June 12, 2024, Laura Santhanam interviews NCLC senior attorney Berneta Haynes discuss a proposed rule from CFPB and the Biden administration to ban medical debt from credit reports that could translate to more financial relief for the 15 million Americans with $49 billion in unpaid medical bills in collections. Berneta…

The Truth, the Whole Truth, and Nothing but the Truth: Fulfilling the Promise of Truth in Lending

September 23, 2009

Originally appearing in the Yale Journal on Regulation (Summer 2008), Elizabeth Renuart and Diane E. Thompson discuss the lack of transparency in credit pricing and a decline in the value of the APR disclosure. This Article documents the history of this decline for the first time and describes the consequences of an APR disclosure that has…

Consumer and Industry Advocates Highlight Measures to Counter Rise in Elder Real Estate Fraud and Financial Exploitation

June 14, 2024

A new issue brief provides recommendations for states to help combat the rise in elder real estate fraud and financial exploitation.

CFPB Proposes Banning Medical Debt from Credit Reports

June 11, 2024

Consumer advocates hail the measure, which will bring financial relief to millions BOSTON – Consumer advocates at the National Consumer Law Center (NCLC) cheered today’s proposal from the Biden administration and the Consumer Financial Protection Bureau (CFPB) to prohibit the reporting of medical debts on credit reports. “This is a huge relief for the millions…

The New York Times: Is Your Driving Being Secretly Scored?

June 9, 2024

Appearing in The New York Times on June 9, 2024, Kashmir Hill quotes NCLC Senior Attorney Chi Chi Wu in coverage of an auto insurance industry trend to collect data on driver habits and produce driver scores. While you can see your credit score, you will have a harder time finding out what your driving…

Student Loan Toolkit Helps Borrowers Manage Repayment

June 6, 2024

The Student Loan Toolkit explains the basics of the student loan system, how to assess your own student loan situation, and your options for managing your student loan debt.

American Banker: Was the CFPB really manipulating data about credit cards?

May 29, 2024

Appearing in American Banker on May 29, 2024, NCLC Senior Attorney Chi Chi Wu takes on an op-ed that accused the Consumer Financial Protection Bureau of “manipulating data.” To the Editor: In Kathy Kraninger’s op-ed “CFPB must stop manipulating data to support its policy preferences,” the agency’s former director accuses the Consumer Financial Protection Bureau of…

Detroit Free Press: UWM offers 0% down payment mortgages: Here are the risks, who’s eligible

May 31, 2024

Appearing in the Detroit Free Press on May 31, 2024, Susan Tompor interviews Sarah Bolling Mancini, NCLC’s co-director of advocacy for a story on zero-interest down payment loans for first-time homebuyers. “The biggest risk is that people might not understand that it does have to be paid back eventually. It’s possible that they might not…

The New York Times: ‘Buy Now, Pay Later’ Borrowers Get More Safeguards With New Rule

May 31, 2024

Appearing in The New York Times on May 31, 2024, Ann Carrns interviews NCLC Associate Director Lauren Saunders for coverage of the popular “buy now, pay later” installment loans and new CFPB rules to treat them like credit cards. While some card protections under the Truth in Lending Act don’t apply to these alternative loans, consumer advocates…

CFPB Improves Protections for Buy Now Pay Later Loans

May 22, 2024

The CFPB made clear that BNPL is credit covered by the federal Truth in Lending Act (TILA) and is a form of credit card that must comply with some, though not all, of TILA’s credit card rules.

U.S. Senate’s Rollback of Furnace Standards Would Add Costs and Pollution

May 21, 2024

A resolution passed by the U.S. Senate Tuesday to block new furnace efficiency standards would raise costs for households and cause needless pollution.

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