The U.S. House has proposed a $3 trillion bill in response to the COVID-19 crisis that will include debt relief for student loan borrowers. The following is a statement by Persis Yu, National Consumer Law Center staff attorney and director of NCLC’s Student Loan Borrower Assistance Project: “We applaud Speaker Pelosi’s leadership in ensuring that…
WASHINGTON – Student Defense and the National Consumer Law Center (NCLC), with the support of the Student Borrower Protection Center (SBPC), filed a class action lawsuit against the U.S. Department of Education and Secretary Betsy DeVos, demanding an immediate halt to the Department’s illegal garnishment of student borrowers’ wages. The Coronavirus Aid, Relief, and Economic…
FOR IMMEDIATE RELEASE: APRIL 30, 2020 National Consumer Law Center contact: Jan Kruse ([email protected]) Washington — Yesterday, the Consumer Financial Protection Bureau (CFPB) released guidance on mortgage originations. While the guidance does no harm to consumers, it also fails to address the real and pressing problems homeowners face as a result of the COVID-19 crisis.…
Washington—Last Friday, the Consumer Financial Protection Bureau (CFPB) released a document providing supervisory guidance for mortgage servicing transfers. This document, reportedly under development long before the coronavirus pandemic, sets forth best practices for servicing transfers and acknowledges that servicing transfers pose particular risk for borrowers who are behind in their mortgage payments. Yet the document…
FOR IMMEDIATE RELEASE: April 21, 2020 National Consumer Law Center contact: Jan Kruse ([email protected]) Washington, D.C. — In a letter to congressional leadership today, consumer and banking industry organizations joined together to urge lawmakers to clarify at the earliest possible opportunity that economic impact payments issued by the federal government in response to the coronavirus pandemic…
Washington, D.C. – Today, advocates of 31consumer, civil rights, housing, and real estate trade organizations, including the Leadership Conference on Civil and Human Rights, National Consumer Law Center, Consumer Federation of America, National Community Stabilization Trust, National Fair Housing Alliance, Center for Responsible Lending, National Association of Real Estate Brokers, National Association of Hispanic Real…
Washington, D.C. – Six national consumer groups, including the National Consumer Law Center (on behalf of its low income client), filed comments with the FCC supporting part of the petition by the American Bankers Association and other lenders petition to make automated calls from the institutions to alert their customers to callers’ offers related to the…
Consumer Impact is a biannual publication of the National Consumer Law Center to inform our supporters about NCLC’s advocacy.
Washington, D.C. – The National Consumer Law Center, Americans for Financial Reform Education Fund, the National Fair Housing Alliance and 33 other consumer, civil rights, and housing counseling groups sent a letter today calling on the Federal Housing Finance Authority (FHFA) to step up its efforts to translate key mortgage notices needed by borrowers hit…
Millions of Families Could Lose Homes from Job Loss Due to COVID-19 Washington, D.C. – Late last Friday, the Consumer Financial Protection Bureau (CFPB) issued a one-sided policy guidance providing enormous flexibility to mortgage servicers while failing to ensure that distressed consumers can get access to crucial information and foreclosure-avoidance procedures. Although styled as a…
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Boston – Today, the Consumer Financial Protection Bureau issued a policy guidance outlining the “responsibilities” of credit bureaus and furnishers (i.e., creditors and debt collectors) during the COVID-19 pandemic. The following is a statement in response from Chi Chi Wu, staff attorney at the National Consumer Law Center: “The Consumer Financial Protection Bureau (CFPB) utterly…
FOR IMMEDIATE RELEASE: APRIL 1, 2020 National Consumer Law Center contact: Jan Kruse ([email protected]) Washington, D.C. – The U.S. Department of the Treasury must act immediately to ensure that the stimulus payments about to go out to millions of Americans are available for food and necessities and are not grabbed by debt collectors, according to…
Read More about U.S. Treasury Must Protect Stimulus Payments From Garnishment by Debt Collectors
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