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NCLC Advocates Applaud CFPB’s Action to Protect Consumers from False Identification by Background Screening Companies

November 4, 2021

November 4, 2021 BOSTON – National Consumer Law Center advocates applaud the Consumer Financial Protection Bureau’s (CFPB) advisory opinion affirming that consumer reporting agencies, including tenant and employment screening companies, violate the Fair Credit Reporting Act if they use name-only matching or other insufficient matching procedures to match information to a consumer. “Too many people…

NCLC’s Pizor Urges Protections for Borrowers With Adjustable Interest Rate Loans in Senate Testimony

November 2, 2021

November 2, 2021 WASHINGTON– Today, Andrew Pizor, staff attorney at the National Consumer Law Center, testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs during “The Libor Transition: Protecting Consumers and Investors” hearing on the consumer and investor impact of transitioning from the Libor benchmark interest rate. “The end of the Libor…

NCLC’s Saunders Testifies on Buy Now, Pay Later and Other Fintech Cashflow Products

November 1, 2021

On Tuesday, Nov. 2 at 10 am ET, Lauren Saunders, associate director of the National Consumer Law Center will testify before the U.S. House Committee on Financial Services’ Task Force on Financial Technology during a hearing titled, “Buy Now, Pay More Later? Investigating Risks and Benefits of BNPL and Other Emerging Fintech Cash Flow Products.” …

SBPC and NCLC Warn Education Department that Delaying “Operation Fresh Start” Will Deny Promised COVID-19 Protections to Millions of Student Loan Borrowers in Default

October 19, 2021

October 19, 2021 WASHINGTON — Today, the Student Borrower Protection Center and the National Consumer Law Center released the following statements in response to press reports that the U.S. Department of Education is weighing but has not yet taken steps to protect millions of struggling federal student loan borrowers from the harsh consequences of default…

Bank Regulators’ Proposal on Third-Party Relationships Silent on Predatory Rent-a-bank Lending, Posing Risks for Banks and Consumers

October 19, 2021

October 19, 2021 WASHINGTON – Today, the National Consumer Law Center (NCLC), on behalf of its low-income clients, the Center for Responsible Lending (CRL), and the National Fair Housing Alliance released their comment letter to the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and Federal Reserve Board (FRB) on…

Consumer and Privacy Advocates Push FCC to Require VoIP Providers to Be Vigilant Against Illegal Robocallers

October 15, 2021

October 15, 2021 On Thursday, the Electronic Privacy Information Center (EPIC) and the National Consumer Law Center (NCLC) on behalf of its low-income clients, submitted comprehensive comments urging the Federal Communications Commission (FCC) to significantly increase the accountability of VoIP providers who allow robocallers to access the American telephony system. The proceeding, required by Section…

U.S. Department of Education to Extend Federal Student Loan Servicing Contracts for Two Years

October 15, 2021

October 15, 2021 In response to the announcement that the U.S. Department of Education will be extending the federal student loan servicing contracts for 2 years, Persis Yu, the director of National Consumer Law Center’s Student Loan Borrower Assistance Project, issued the following statement: “On January 31, 2022, the federal student loan payment suspension is…

CFPB Urged to Reverse Earned Wage Actions that Threaten to Create Dangerous Fintech Payday Loan Loopholes

October 12, 2021

October 12, 2021 Opinion and Order Under Former Director Kraninger Promote Evasions of Credit, Fair Lending, and Payday Loan Laws WASHINGTON – A coalition of 96 consumer, labor, civil rights, legal services, faith, community and financial organizations and academics is urging the Consumer Financial Protection Bureau (CFPB) to revoke or significantly revise two actions taken…

California Prohibits Overdraft Fees on Fake Bank Accounts Receiving Government Payments

October 6, 2021

October 6, 2021 New law addresses evasions of CFPB prepaid card rule WASHINGTON — California Governor Gavin Newsom late yesterday signed into law a bill by Senator Monique Limón (D-CA-9) that closes a loophole that prepaid card companies have been using to evade California and federal laws that limit overdraft fees. SB 497, which was…

Advocates Oppose Perdue for Senate Campaign Effort to Greenlight Ringless Voicemail

October 6, 2021

October 6, 2021 WASHINGTON — This week, a group of national organizations submitted comments to the Federal Communication Commission (FCC) in opposition to a request for a declaratory ruling submitted by Perdue for Senate, Inc. The groups argued that the campaign seeks a ruling that would allow unfettered voicemail messages to swamp consumers’ cellphones. The…

NCLC Welcomes Chopra at CFPB

September 30, 2021

September 30, 2021 WASHINGTON— The United States Senate today confirmed Rohit Chopra as Director of the Consumer Financial Protection Bureau. National Consumer Law Center Associate Director Lauren Saunders made the following statement: “We welcome Rohit Chopra as Director of the CFPB. Chopra has deep experience and a track record of working to protect consumers from…

Advocates Testify Before House Subcommittee on Closed School Discharges

September 30, 2021

LAFLA and NCLC Advocates Testify Before House Subcommittee on Closed School Discharges September 30, 2021 Washington — Representatives from the Legal Aid Foundation of Los Angeles and the National Consumer Law Center provided testimony today before the U.S. House of Representatives Subcommittee on Higher Education and Workforce Investment — offering perspectives on improving the federal loan…

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