The timing of the OCC’s embrace of predatory lenders could not be worse We are in the midst of an unprecedented health crisis and a severe economic crisis, with both crises impacting communities of color more heavily than white communities WASHINGTON, D.C. – A proposal by the regulator of the nation’s largest banks would…
Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced yesterday that a fee from Fannie Mae and Freddie Mac, which FHFA previously approved and which makes refinancing more expensive for mortgages backed by those companies, will be delayed until December 1. FHFA also said the fee will not apply to refinance loans with balances…
FOR IMMEDIATE RELEASE: August 18, 2020 National Consumer Law Center Statement: Proposal May be Challenged Washington, D.C. – Today, the Consumer Financial Protection Bureau’(CFPB) announced a Notice of Proposed Rulemaking regarding the Dodd-Frank Act ability to repay and qualified mortgage rules. The following statement is by National Consumer Law Center Staff Attorney Alys Cohen: “The…
FOR IMMEDIATE RELEASE: AUGUST 4, 2020 Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) should withdraw its supplemental proposed rule on disclosures and instead completely ban all collection of time-barred “zombie” debt, both in and out of court, wrote the National Consumer Law Center (NCLC) in comments submitted today on behalf of its low…
Read More about CFPB Proposal Allows Abusive “Zombie” Debt Collection to Continue
For Immediate Release: July 31, 2020 WASHINGTON, D.C. – The National Consumer Law Center, Center for Responsible Lending, and the National Community Reinvestment Coalition filed an amicus brief in Lacewell v. Office of the Comptroller of the Currency (OCC), in support of the plaintiff, the New York State Department of Financial Services (DFS), against the OCC’s plan…
Read More about Amicus Brief Opposes OCC Charter That Would Aid Predatory Lenders
FOR IMMEDIATE RELEASE: JULY 28, 2020 Washington, D.C. – More than 50 consumer, civil rights, community, housing, and other public interest organizations sent a letter today to U.S. Senate leadership urging inclusion of mortgage and rental protections for families in the next COVID-19 legislation. In the letter, the groups, which include Americans for Financial Reform,…
FOR IMMEDIATE RELEASE: JULY 27, 2020 New Republican Stimulus Bill Fails 43 Million Student Loan Borrowers Statement of Persis Yu, director of NCLC’s Student Loan Borrowers Assistance Project, in response to the COVID-19 stimulus package proposed by Senate Republicans today. “As Senator Lamar Alexander (R-Tenn.) correctly stated this past week, “[i]n less than three months,…
FOR IMMEDIATE RELEASE: JULY 27, 2020 Washington, D.C. – Today, the National Consumer Law Center (NCLC) and 13 other organizations sent a comment letter to the Consumer Financial Protection Bureau (CFPB) urging it not to revamp the rules governing the residential mortgage market—a step that could destabilize the mortgage market in the middle of the…
FOR IMMEDIATE RELEASE: July 24, 2020 Advocates seek review of the Declaratory Ruling issued by the Consumer and Governmental Affairs Bureau, which blesses P2P texting platforms invented to evade consumer protections WASHINGTON, D.C. – Consumer groups, led by the National Consumer Law Center (NCLC) on behalf of its low-income clients, today filed an appeal with…
FOR IMMEDIATE RELEASE: July 23, 2020 Fair housing advocates denounce Trump’s newest effort to eliminate a critical tool to desegregate communities and call on the president to instead concentrate on ensuring housing equity during a pandemic Washington, D.C.- Today, a coalition of civil rights, affordable housing and consumer advocacy organizations condemned the move by the…
FOR IMMEDIATE RELEASE: JULY 20, 2020 National Consumer Law Center contacts: Jan Kruse ([email protected]) or Lauren Saunders ([email protected]) Washington, D.C. – Today, the Office of the Comptroller of the Currency (OCC) issued a proposed rule that overturns the “true lender” rule that courts have used since the early 1800s to prevent evasions of state usury…
Full testimony is available at: https://bit.ly/oversight-svcrs-cares Washington, D.C. – On Thursday, July 16 at 12pm ET, National Consumer Law Center attorney Alys Cohen will testify virtually at the U.S. House Financial Services Oversight Subcommittee hearing: Protecting Homeowners During the Pandemic: Oversight of Mortgage Servicers’ Implementation of the CARES Act. Cohen’s testimony will focus on how…
Please support NCLC's work to advance consumer rights and economic justice with a tax-deductible contribution today!
Donate