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Consumer Advocates Urge CFPB to Protect Consumers From “Junk Fees”

May 2, 2022

Leading consumer advocacy organizations submitted an extensive comment letter detailing junk fees across a wide range of consumer financial products and services.

Advocates Applaud ED Approval of $238M Discharge for Marinello School of Beauty Borrowers

April 28, 2022

April 28, 2022 WASHINGTON – Today, the Department of Education (ED) announced approval of a $238 million group discharge for 28,000 federal student loan borrowers harmed by “pervasive and widespread misconduct” at Marinello Schools of Beauty. In response, Kyra Taylor, staff attorney at the National Consumer Law Center, issued the following statement: “Today’s actions could…

Students and Consumer Groups Sue Biden Administration for Failing to Rule on State AG Group Borrower Defense Claims

April 26, 2022

April 26, 2022 New lawsuit calls attention to languishing Borrower Defense group applications WASHINGTON – Today, Student Defense, the Project on Predatory Student Lending, and the National Consumer Law Center filed a lawsuit against U.S. Education Secretary Miguel Cardona and the Department of Education on behalf of student loan borrowers with unresolved Borrower Defense to…

Advocates Applaud CFPB Report Highlighting the Toll of Inaccurate Medical Billing on Consumers

April 20, 2022

April 20, 2022 WASHINGTON – Today, the Consumer Financial Protection Bureau (CFPB) issued a report examining the financial consequences of medical billing and collection endured by individuals and families nationwide. The report draws from analysis of the rising volume of medical billing and collection complaints submitted to the CFPB, which show “coercive credit reporting and…

Advocates Praise First Steps to Address Longstanding Failures in Income-Driven Loan Program

April 19, 2022

April 19, 2022 The U.S. Department of Education must provide clarity to borrowers and relief for those most harmed by failures WASHINGTON – Today the Department of Education announced that it will implement reforms to address some of the longstanding problems with the income-driven repayment (IDR) program for federal student loans that have prevented the…

CFPB Action Against TransUnion Shows Need for Public Credit Registry; Consumers Warned to Avoid Credit Monitoring

April 12, 2022

April 12, 2022 WASHINGTON – In response to the Consumer Financial Protection Bureau’s announcement today that it is filing a lawsuit against TransUnion and its longtime executive John Danaher for violating a 2017 law enforcement order, advocates at the National Consumer Law Center issued the following statements: “This type of flagrant violation is typical behavior…

Consumer Advocates Applaud Biden Administration’s New Actions to Lessen the Burden of Medical Debt

April 11, 2022

April 11, 2022 WASHINGTON – In response to the Vice President Harris’ announcement today that the White House will be taking measures to increase consumer protections and lessen the burden of medical debt, advocates at the National Consumer Law Center issued the following statements: “We appreciate the White House’s efforts to improve protections for consumers…

The System is Still Broken: 115+ Organizations Renew Push for Overdue Reforms to Income-Driven Repayment (IDR)

April 7, 2022

April 7, 2022 The System is Still Broken: 115+ Organizations Renew Push for the Biden Administration to Aid Millions of Student Loan Borrowers with Overdue Reforms to Income-Driven Repayment (IDR) IDR program has failed borrowers worse than previously known to the public, organizations contend, calling on the Education Secretary to fulfill broken promises WASHINGTON —…

Advocates Support Extension of Student Loan Payment Pause and Praise Removal of Loans from Punitive Default System

April 6, 2022

April 6, 2022 WASHINGTON – Today, in response to the Department of Education’s announcement that it will extend the student loan payment pause through August 31 and that it will remove federal student borrowers from default and give them a fresh start in repayment when the pause ends, Abby Shafroth, interim director of the National…

Advocates Caution that Payment Pause Should be Extended Until Student Loan System is Fixed

April 5, 2022

April 5, 2022 WASHINGTON – Today, in response to reports that Biden Administration officials are considering extending the student loan payment pause until the end of August 2022, Abby Shafroth, interim director of the National Consumer Law Center’s Student Loan Borrower Assistance Project, issued the following statement: “The Biden Administration should absolutely extend the payment…

Statement in Response to CFPB’s Sanctioning of EdFinancial for Deceiving Student Loan Borrowers

March 30, 2022

March 30, 2022 The student loan servicer lied to borrowers with Federal Family Education Loans (FFEL) about their eligibility for Public Service Loan Forgiveness WASHINGTON – Today, in response to the Consumer Financial Protection Bureau’s (CFPB) sanctioning of student loan servicer EdFinancial for deceiving student loan borrowers and misrepresenting their forgiveness and repayment options, Kyra…

Groups Urge CFPB to Treat “Buy Now Pay Later” Products Like Credit Cards and Protect Consumers from Harmful Practices

March 28, 2022

March 28, 2022 WASHINGTON – More than 75 consumer, housing, civil rights, legal services, faith, community, small business, student borrower, and public interest organizations submitted a joint comment letter to the Consumer Financial Protection Bureau (CFPB) concerning Buy Now, Pay Later (BNPL) credit products. The groups are alarmed by the lack of regulation of this…

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