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Advocates Cheer House Passage of Comprehensive Debt Collection Improvement Act

May 13, 2021

FOR IMMEDIATE RELEASE: MAY 13, 2021 Washington, D.C. – Today, the U.S. House of Representatives passed the Comprehensive Debt Collection Improvement Act (HR 2547), sponsored by Financial Services Committee Chairwoman Maxine Waters (D-CA), which would bring much needed clarity and reforms to stop abusive debt collection practices. The vote was 215 to 207. “Thank you…

Advocates Applaud HUD’s Actions to Protect Vulnerable Widows and Widowers and Prevent Avoidable Foreclosures

May 12, 2021

FOR IMMEDIATE RELEASE: May 12, 2021 Boston – National Consumer Law Center advocates applaud the U.S. Department of Housing and Urban Development (HUD) for two recently announced policy changes that will help homeowners avoid unnecessary foreclosures. HUD’s reverse mortgage policy change, announced in Mortgagee Letter 2021-11, will allow non-borrowing spouses of reverse mortgage borrowers to…

Advocates Applaud Senate Repeal of National Banking Regulator’s Predatory Lending Rule; Urge the House to Act Soon

May 11, 2021

FOR IMMEDIATE RELEASE: May 11, 2021 Washington, D.C. – In a 52 – 47 vote tonight, the U.S. Senate voted to overturn the OCC’s “fake lender” rule, which allows predatory lenders to evade state interest rate laws by putting a bank’s name on the paperwork. S.J. Res. 15, a resolution under the Congressional Review Act (CRA),…

Federal Emergency Broadband Benefit (EBB) Program to Launch Wednesday

May 11, 2021

FOR IMMEDIATE RELEASE: May 11, 2021 Program aims to bring affordable broadband internet service to low-income households WASHINGTON, D.C. — Tomorrow, the Federal Communications Commission (FCC) will launch the Emergency Broadband Benefit Program, a temporary FCC program to help families and households struggling to afford broadband internet service during the COVID-19 pandemic. Advocates at the…

New Bank Regulator Leadership Welcome; Congress Still Must Roll Back Rule Promoting Predatory Lending

May 5, 2021

For Immediate Release: May 5, 2021 Washington, DC – Advocates welcomed reports that Treasury Secretary Janet Yellen plans to appoint a new acting head of the Office of the Comptroller of the Currency (OCC), replacing Blake Paulson, in light of the highly deceptive and false claims that the agency, under Paulson’s leadership, put forward as…

Statement on Education Department’s Appointment of Richard Cordray to Oversee Trillion Dollar Federal Student Aid

May 4, 2021

FOR IMMEDIATE RELEASE: MAY 4, 2021 Washington, D.C. – The U.S. Department of Education has appointed Richard Cordray, former director of the Consumer Financial Protection Bureau and Ohio Attorney General, as Chief Operating Officer of the Department’s Federal Student Aid, which oversees $1.6 trillion in outstanding federally-backed student loans held by more than 45 million…

Credit Union Regulator Must Not Facilitate Predatory Lending, Groups Say in Comment Letter

May 3, 2021

FOR IMMEDIATE RELEASE: May 3, 2021 WASHINGTON, D.C. – Credit unions and advocates registered their strong opposition to a proposal by the National Credit Union Administration (NCUA) that would allow credit union subsidiaries to engage in predatory lending that is explicitly illegal for federal credit unions. The proposal by NCUA, which regulates credit unions across…

Bipartisan Group of 25 State Attorneys General Urge Congress to Repeal OCC “True Lender” Rule

April 21, 2021

FOR IMMEDIATE RELEASE: April 21, 2021 Letter Reflects Bipartisan Support for State Interest Rate Caps and the Need to Stop “Rent-a-Bank” Evasions by Predatory Lenders In a rare form of bipartisan agreement, a group of 25 Attorneys General (AGs) sent a letter today to Congressional leadership urging it to “use the Congressional Review Act (CRA)…

Nearly 140 Scholars Call for Congressional Repeal of “True Lender” Rule

April 20, 2021

FOR IMMEDIATE RELEASE: April 20, 2021 OCC Rule Usurps Role States Have Had Since Founding of the Nation in Protecting Families from Usurious Lending A group of 138 scholars, including professors of banking law and consumer finance regulation, from 43 states and the District of Columbia sent a letter today to Congress urging it to…

CFPB Will Hold Debt Collectors Accountable to Tenants for Illegal Evictions

April 19, 2021

FOR IMMEDIATE RELEASE: April 19, 2021 NCLC Attorney Praises CFPB for Upholding the Fair Debt Collection Practices Act on Rule that Could Impact up to 9 Million Families Behind in Rent Payments Boston – Today, the Consumer Financial Protection Bureau announced an interim final rule that will require debt collectors to give tenants a written…

Report: Social Security Administration's Reliance on Flawed Data from Private Company Leads to Low-Income People Losing Vital SSI Benefits

April 14, 2021

Download the report, including several client stories and policy recommendations Washington, D.C. – Thousands of extremely low-income older adults and people with disabilities have likely had their Supplemental Security Income (SSI) benefits cut off erroneously, bringing many of them to the brink of homelessness, according to a groundbreaking report from the National Consumer Law Center…

Housing Advocates Praise CFPB’s Focus on Helping Homeowners at Risk of Losing Homes but Urge a Different Approach

April 5, 2021

FOR IMMEDIATE RELEASE: April 5, 2021 Washington, D.C. – Housing advocates at the National Consumer Law Center, Americans for Financial Reform Education Fund, National Community Stabilization Trust, and the National Housing Law Project responded to the Consumer Financial Protection Bureau’s (CFPB or Bureau) proposed rules issued today to impose a pre-foreclosure review period (essentially a…

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