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Advocates Applaud $4 Million DC Settlement with Predatory Rent-a-Bank Lender Elevate

February 8, 2022

February 8, 2022 FDIC should stop banks from laundering Elevate’s 100% -251% APR loans nationwide WASHINGTON – Advocates at the National Consumer Law Center applaud District of Columbia Attorney General Karl Racine’s announcement today that DC has reached a settlement with predatory rent-a-bank lender Elevate that requires it to abide by the District’s interest rate limits and…

Advocates Call for FDIC, Under New Leadership, to Stop Banks from Fronting for Predatory Lenders

February 4, 2022

February 04, 2022 Today’s departure of FDIC Chair appointed by former President Trump presents a new opportunity for the agency to stop illegal loans with 100%+ APR that are exploiting financially vulnerable families WASHINGTON – With a new chairman taking the helm of the Federal Deposit Insurance Corporation (FDIC), the National Consumer Law Center joined…

Advocates Applaud VA Rule to Dramatically Reduce Unfavorable Debt on Veterans’ Credit Reports

February 2, 2022

February 2, 2022 Rule establishes new minimum requirements for reporting medical debt and debt resulting from overpayment of benefits WASHINGTON – In response to today’s announcement by the Department of Veterans Affairs (VA) that it has published a final rule in the Federal Register amending procedures for reporting debt to consumer reporting agencies, advocates at…

Advocacy Groups Request Meeting with Biden Administration Regarding the Impact of Student Loan Debt on Black Women

January 31, 2022

January 31, 2022 WASHINGTON — Several advocacy organizations, spearheaded by 1000 Women Strong, a national hub for Black women organizing, have requested a series of meetings with the Biden administration to discuss the disproportionate impact of federal student loan debt on Black women. The advocacy groups, which include the National Consumer Law Center, Association of Young Americans,…

Consumer Advice: Dealing with Debt Collectors—Including the New Federal Rules

January 31, 2022

This article provides advice to consumers in dealing with debt collectors. The article is based on an updated chapter in NCLC’s Surviving Debt. The advice now considers new consumer rights and new consumer risks flowing from federal rules that just went into effect on November 30, 2021. For more detail on these rules (the Consumer…

Navient Reaches $1.85 Billion Settlement for Defrauding Millions of Students

January 13, 2022

January 13, 2022 WASHINGTON — Today, Navient, one of the largest student loan servicers in the country, reached a $1.85 billion settlement with 39 states over predatory student loan practices. In response, the National Consumer Law Center (NCLC) and the Center for Responsible Lending (CRL) released the following statement: “Navient’s history of steering borrowers into…

NCLC Advocates Applaud CFPB Bulletin To Prevent Unlawful Medical Debt Collection and Credit Reporting

January 13, 2022

January 13, 2022 No Surprises Act Brings New Consumer Protections From Surprise Medical Bills WASHINGTON — In response to the Consumer Financial Protection Bureau’s issuance of a bulletin today, reminding debt collectors and credit bureaus of their legal obligations under the No Surprises Act, which took effect on January, 1, 2022, advocates at the National…

Borrower Advocates Demand that Education Department Restore the Promise of Income-Driven Repayment

January 12, 2022

January 12, 2022 Advocates Outline Path for the Biden Administration to “Do its Part” in Fixing IDR WASHINGTON — Today, the Student Borrower Protection Center, Center for Responsible Lending, and National Consumer Law Center released a whitepaper outlining why the U.S. Department of Education (ED) must act now, before the payment pause ends, to provide…

NCLC, EPIC Urge FCC to Hold Voice Service Providers Accountable for Transmitting Illegal Robocalls

January 11, 2022

January 11, 2022 Groups urge FCC to limit the damage that gateway providers cause by allowing illegal robocall and scam calls to proliferate on their networks. WASHINGTON — The Electronic Privacy Information Privacy Center and the National Consumer Law Center filed comments Monday in response to a Notice of Proposed Further Rulemaking issued by the…

NCLC Advocate Applauds CFPB Report Spotlighting Deficiencies in Credit Bureaus’ Complaint Handling; Calls for Fundamental Reform of Troubled Industry

January 6, 2022

January 6, 2022 BOSTON – In response to yesterday’s release by the Consumer Financial Protection Bureau (CFPB)’s of a report detailing the failures of the Big Three credit bureaus [Equifax, Experian and TransUnion] in responding to consumer complaints, Chi Chi Wu, staff attorney at National Consumer Law Center, issued the following statement: “The CFPB is…

The FDCPA Year in Review: 2021

January 5, 2022

significant new FDCPA regulations took effect, a Supreme Court decision significantly impacts standing in FDCPA cases, and twenty-one appellate court panels issued important FDCPA published decisions. Of special note, all the chapters in the digital version of NCLC’s Fair Debt Collection have been extensively reorganized, rewritten, and updated.

NCLC Advocate Applauds the Biden Administration Extension of the Pause on Federal Student Loan Payments, but More Needs to Be Done

December 22, 2021

December 22, 2021 In response to the Biden Administration extending the pause on federal student loans payment until May 1, 2022, Abby Shafroth, interim director of the National Consumer Law Center’s Student Loan Borrower Assistance Project, issued the following statement: “Today’s announcement means that over the holidays, struggling student loan borrowers will not be forced…

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