A Reverse Mortgage Primer
This article provides guidance for consumers on who should consider a reverse mortgage, how it works, foreclosure risks, impacts on spouses, partners, and heirs, and whether it is advisable.
Newsroom
-
-
Consumer Groups Applaud Federal Legislation to Protect Workers from Excessive Wage Seizure
Washington, D.C. – The Center for Responsible Lending (CRL) and National Consumer Law Center (NCLC) today expressed support for the Protecting Wages of Essential Workers Act of 2022 (Protecting Wages Act). The bill will ensure that working Americans who hold consumer debt are not hit with excessive wage seizures that leave them unable to afford…
-
Digital Library: Practice Implications of Fifth Circuit Ruling That CFPB Funding Unconstitutional
The substantive decision that the CFPB’s independent funding mechanism violates the Appropriations Clause is radical and unprecedented. But even more extreme is the decision that the remedy for this unconstitutional funding mechanism is that the CFPB’s Payday Lending Rule must be found invalid because it was promulgated using unconstitutional funding.
-
Updated Credit Scoring Models Will Benefit Borrowers
New Model Will Improve Accuracy and Reduce Impact of Paid Collection Items and Medical Debt
Read More about Updated Credit Scoring Models Will Benefit Borrowers
-
Appeals Court Ruling on CFPB Threatens to Perpetuate Predatory Financial Practices
5th Circuit Decision Jeopardizes a Decade of Consumer Protections WASHINGTON – In an outrageous opinion that endangers efforts to protect American consumers from big banks and predatory actors, a three-judge panel of the U.S. Court of Appeals for the Fifth Circuit ruled this week that the funding mechanism of the Consumer Financial Protection Bureau (CFPB)…
Read More about Appeals Court Ruling on CFPB Threatens to Perpetuate Predatory Financial Practices
-
NCLC Statement on U.S. Chamber of Commerce Lawsuit Against the CFPB
A recent lawsuit by industry trade groups, including the U.S. Chamber of Commerce, the American Bankers Association, and the Consumer Bankers Association, seeks to prevent the Consumer Financial Protection Bureau (CFPB) from using its unfair, deceptive, or abusive acts and practices (UDAAP) authority to combat discriminatory practices in banking and other financial services. It is…
Read More about NCLC Statement on U.S. Chamber of Commerce Lawsuit Against the CFPB
-
The Department is Automatically Canceling the Loans of Some Borrowers Who Attended Predatory Schools: What Borrowers Need To Know
Over the last few months, the Department of Education has made a number of groundbreaking announcements that will provide debt relief to millions of people with student loans. In addition to the big announcement that most people with federal student loan debt can apply to have $10,000 to $20,000 of that debt cancelled, the Department has…
-
Twelve Dramatic Changes Offering Relief for Student Loan Borrowers
There have been dramatic changes in 2021 and 2022 making it easier for tens of millions of student loan borrowers to cancel or repay their debt. This article highlights twelve of the most significant changes. Additional information is found in NCLC’s Student Loan Law and at studentloanborrowerassistance.org. But the changes do not stop here. Expect…
Read More about Twelve Dramatic Changes Offering Relief for Student Loan Borrowers
-
Free Chapter: Homeowner Rights During Natural Disasters
Chapter 12 of Mortgage Servicing and Loan Modifications covers common legal issues that arise in the context of natural disasters and is free to all for a limited time.
Read More about Free Chapter: Homeowner Rights During Natural Disasters
-
New Limits on Wage Seizures Will Help California Workers
NCLC Advocates Praise Gov. Newsom for Signing SB 1477, which reduces wage seizures from workers in debt WASHINGTON – Advocates from the National Consumer Law Center applaud California Governor Gavin Newsom today for protecting workers and families by signing SB 1477 (Wieckowski). The new law will completely protect a worker who earns $20 per hour…
Read More about New Limits on Wage Seizures Will Help California Workers
-
NCLC Digital Library: 12 Ways to Avoid Arbitration Even After Congress Overturned the CFPB Arbitration Rule
The CFPB rule would have had an enormous impact on returning to consumers remedies they had lost through the widespread use of arbitration clauses with class action bans. Nevertheless, consumers have a number of ways to defeat an arbitration requirement, as set out below.
-
Prison and Jail Phone Justice Advocates Applaud FCC’s Action to Affirm Rights for People with Disabilities
Advocates say this action is long overdue and necessary to ensure people with disabilities have access to communications while incarcerated. Today, civil rights leaders and advocacy organizations working across various issues in criminal legal and prison reform are commending the Federal Communications Commission’s order on prison communications, particularly the long-awaited action to affirm the rights…
Support NCLC
Please support NCLC's work to advance consumer rights and economic justice with a tax-deductible contribution today!
Donate