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Broad Coalition Urges CFPB To Examine Fintech Credit Products and Fee Models

December 21, 2021

December 21, 2021 79 Groups Ask CFPB to Provide Much Needed Oversight for Emerging Credit Products The Consumer Federation of America, Center for Responsible Lending, National Consumer Law Center, Student Borrower Protection Center, and 75 additional organizations called for Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra to carefully examine fintech credit products and fee…

CFPB Must Protect Consumers From Fraud in Payment Systems

December 21, 2021

December 21, 2021 Today, 65 consumer, civil rights, faith, legal services, and community groups submitted comments to the Consumer Financial Protection Bureau (CFPB) in response to its inquiry into certain business practices of six large technology companies operating payments systems in the United States. The groups urged the CFPB to require person-to-person (p2p) payment providers…

Advocates Urge CFPB to Prevent Rental Debt From Becoming a Barrier to Housing

December 14, 2021

December 14, 2021 New Policy Brief Highlights Legal Aid and Non-Profit Attorneys’ Experiences Representing Clients With COVID-19 Related Rental Debt WASHINGTON– Today, advocates at the National Consumer Law Center sent to the Consumer Financial Protection Bureau a policy brief, Assisting Consumers with Rental Debt During COVID-19: Legal Aid and Non-Profit Attorneys Share Their Experiences, and…

NCLC’s Pizor Applauds CFPB Final Rule to Facilitate the Transition from LIBOR

December 7, 2021

December 7, 2021 The New Rule Will Provide Protections for Borrowers With Adjustable Interest Rate Loans WASHINGTON– Today, in response to the Consumer Financial Protection Bureau’s (CFPB) announcement that it has finalized a rule facilitating the transition away from use of the LIBOR interest rate index for adjustable rate loans, Andrew Pizor, staff attorney at…

Advocates Praise Cap One End to Overdraft, NSF Fees

December 1, 2021

December 1, 2021 CFPB should enact rule requiring all banks, credit unions to end abusive, high-cost overdraft loans WASHINGTON – Advocates at the National Consumer Law Center praised today’s announcement by Capital One Bank that it is completely eliminating all overdraft and nonsufficient funds (NSF) fees on all of its accounts – calling on other…

Advocates Applaud DC Predatory Rent-a-Bank Lending Settlement

November 30, 2021

November 30, 2021 WASHINGTON – Advocates at the National Consumer Law Center applauded District of Columbia Attorney General Karl Racine’s announcement today that DC has reached a settlement with predatory rent-a-bank lender OppFi that requires it to abide by the District’s interest rate limits and to provide over $2 million in relief to wronged consumers.…

Important Investments in Homeownership and Families in Build Back Better

November 19, 2021

November 19, 2021 President Biden’s Build Back Better Act Passes House, More Must Be Done to Protect Expanded Child Tax Credits WASHINGTON – Consumer advocates today praised the House passage of the Build Back Better Act. Along with the extension of the expanded Child Tax Credit and other big ticket items, the bill also includes…

U.S. House Introduces 36% Rate Cap Bill to Curb High-Cost, Predatory Loans

November 17, 2021

November 17, 2021 Bipartisan bill enacts rate cap popular among voters of all stripes WASHINGTON – Advocates at the National Consumer Law Center applauded the introduction of the Veterans and Consumers Fair Credit Act (VCFCA) in the U.S. House of Representatives, led by Rep. Jesus “Chuy” Garcia (D-IL) and Rep. Glenn Grothman (R-WI). “Republican and…

Report: COVID-Driven Utility Debt Rises in Massachusetts, Urgent Action Needed to Keep the Heat On

November 15, 2021

November 15, 2021 New Analysis Finds Nearly One Million Massachusetts Residential Utility Customers At Risk of Utility Service Being Shut Off Download report at: https://bit.ly/more-covid-util-arrearages BOSTON – Close to a million people could be at risk of losing gas and electric service in Massachusetts, according to a new analysis from the National Consumer Law Center.…

Consumer Impact, Fall 2021

Consumer Impact is a biannual publication of the National Consumer Law Center to inform our supporters about NCLC’s advocacy.

Report: Will States Let Debt Collectors Push Families into Poverty as Pandemic Protections Expire?

November 10, 2021

November 10, 2021 Download the full report, state maps and state-specific information: https://www.nclc.org/issues/report-still-no-fresh-start.html BOSTON – With millions of families struggling to recover from the economic fallout of the COVID-19 pandemic, and state and federal payment forbearances, eviction bans and utility shut off moratoriums coming to an end, states maintain a vital role in protecting households…

Key Broadband Affordability Wins in Biden's Infrastructure Bill

November 8, 2021

November 8, 2021 U.S. House Votes to Advance President Biden’s Infrastructure Package WASHINGTON – Consumer advocates praised the House passage of H.R. 3684, the Infrastructure Investment and Jobs Act (or “IIJA”). Along with major items such as investment in water infrastructure, IIJA helps low-income families bear rising energy costs and aims to close the digital…

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