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Important Wins, but Unmet Needs, in New Stimulus Package

December 22, 2020

New stimulus checks, broadband access and rental aid welcome, but foreclosure and student loan relief absent WASHINGTON, DC – Advocates welcomed the new stimulus bill passed by Congress last night, but warned that it has critical gaps that should be immediately filled by the incoming Biden Administration. “The new $600 stimulus payment, broadband aid, low-income…

CFPB’s Debt Collection Rule Misses Critical Opportunities to Protect Consumers

December 18, 2020

FOR IMMEDIATE RELEASE: December 18, 2020 Nearly One-Third of U.S. Adults with a Credit Report Have Debt in Collection WASHINGTON, D.C. – The National Consumer Law Center, on behalf of its low income clients, along with Americans for Financial Reform Education Fund, Consumer Federation of America, and the National Association of Consumer Advocates, expressed disappointment…

New FCC Ruling Supports Advocates’ Petition Urging it to Stop Unwanted Robocalls from Federal Contractors but Leaves Gray Area Regarding States’ Role

December 15, 2020

FOR IMMEDIATE RELEASE: December 15, 2020 WASHINGTON, D.C. – Yesterday, the Federal Communications Commission (FCC) issued an order granting in part a Petition for Reconsideration filed by the National Consumer Law Center on behalf of a broad coalition of national, state and local legal services groups challenging the agency’s 2016 Broadnet Declaratory Ruling. The 2016 FCC…

Getting Money Back for Scammed Consumers

December 15, 2020

This article explains consumers’ legal remedies and options, which vary depending on the method used for the consumer’s payment.

Consumer Advocates: New Rule from FDIC on Industrial Loan Companies is a Gift to Predatory Lenders

December 15, 2020

FOR IMMEDIATE RELEASE: December 15, 2020 FDIC rule makes it easier for lenders to exploit more financially vulnerable families WASHINGTON, D.C. – Today, the Federal Deposit Insurance Corporation (FDIC) approved a new final rule to facilitate chartering additional under-regulated Industrial Loan Companies (ILCs). The FDIC rule will encourage non-bank companies to acquire banks or seek…

CFPB Revamp of Mortgage Rules Will Protect Lenders from Legal Liability for Peddling Unaffordable Loans, Increase Foreclosures, and Create Instability in the Mortgage Market

December 10, 2020

FOR IMMEDIATE RELEASE: December 10, 2020 Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB or Bureau) released two final rules revising the standards for determining a borrower’s ability to repay a mortgage and further limiting lender liability despite the lessons of the previous financial crisis, which led to millions of unnecessary foreclosures. By…

U.S. Supreme Court to Hear Case on December 8 that Could Open the Floodgates to More Invasive Robocalls

December 7, 2020

FOR IMMEDIATE RELEASE: Dec. 7, 2020 Washington, D.C. – Tomorrow, the U.S. Supreme Court is scheduled to hear oral arguments in Facebook v Duguid. The Court’s decision, expected by next spring, could either uphold Americans’ right to stop unwanted robocalls and robotexts to their cell phones or render the phones useless by making many invasive autodialed…

New NCLC, CRL Report Proposes Roadmap for Student Borrowers to Survive the COVID Debt Crisis

November 23, 2020

FOR IMMEDIATE RELEASE: November 23, 2020 WASHINGTON, D.C. – Today, the Center for Responsible Lending (CRL) and the National Consumer Law Center (NCLC) released a policy report illustrating a path out of the student debt crisis and proposing solutions for a more equitable and efficient higher education system. Road to Relief: Supporting Federal Student Loan…

Consumer Impact, Fall 2020

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

CFPB Debt Collection Rule a Mixed Bag for Consumers

October 30, 2020

FOR IMMEDIATE RELEASE: October 30, 2020 One-Third of U.S. Adults with a Credit Report Have Debt in Collection Washington, D.C. – The National Consumer Law Center, on behalf of its low income clients, Americans for Financial Reform Education Fund, Center for Responsible Lending, Consumer Federation of America, and the National Association of Consumer Advocates, expressed…

Report: Which States Put Families at Risk of Poverty During the Covid Crisis?

October 29, 2020

FOR IMMEDIATE RELEASE: OCTOBER 29, 2020 Boston – As millions of families suffer job loss or struggle to pay bills during COVID-19, states have an important role in protecting them from seizure of essential wages and property to pay old debts. A new state survey from the National Consumer Law Center finds that not one jurisdiction’s laws…

New OCC Rule Protecting Predatory Lenders Could Face Legal Challenge

October 27, 2020

FOR IMMEDIATE RELEASE: October 27, 2020 Rule that evades state interest rate laws will severely impact low-income and communities of color WASHINGTON, D.C. – The regulator of the nation’s largest banks has finalized a rule that allows predatory lenders to do an end-run around state interest rate caps, exposing people to loans in excess of…

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