CFPB proposal would allow for more consumer abuse and harassment from debt collection industry Washington, DC – Late yesterday, a coalition of 232 nonprofit organizations from all 50 states and the District of Columbia sent a letter to the Consumer Financial Protection Bureau (CFPB) in response to its proposal that protects abusive debt collectors more than consumers. Instead of giving…
FOR IMMEDIATE RELEASE: September 18, 2019 National Consumer Law Center contacts: Lauren Saunders ([email protected]) or (202) 595-7845; Jan Kruse ([email protected]) or (617) 542-8010 Washington, D.C. – Late yesterday, the Consumer Financial Protection Bureau joined an appeal by the Trump Administration to the U.S. Supreme Court asserting that the agency’s independent leadership structure is a violation…
Boston – The National Consumer Law Center (NCLC) is pleased to announce that Elizabeth J. Cabraser was selected to receive the 2019 Vern Countryman Award, consumer law’s most prestigious award. One of the nation’s most accomplished plaintiffs’ attorneys, Cabraser is a co-founder and partner of Lieff Cabraser Heimann & Bernstein, LLP, one of the country’s…
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CFPB finalizes policy that gives companies a private channel to seek approvals of untested new products and a promise that the CFPB will not take action for consumer protection law violations WASHINGTON D.C. — Consumer advocates criticized today’s announcement by the Consumer Financial Protection Bureau that it has finalized policies to give banks, fintech companies,…
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For Immediate Release: Sept. 9, 2019 Boston – On Tuesday, September 10, at 10 a.m. ET, National Consumer Law Center attorney and Director of NCLC’s Student Loan Borrower Assistance Project Persis Yu will testify before the U.S. House of Representatives Committee on Financial Services at the hearing, “A $1.5 Trillion Crisis: Protecting Student Borrowers and…
FOR IMMEDIATE RELEASE: September 6, 2019 Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) sued Certified Forensic Loan Auditors. According to the CFPB’s complaint, Certified sold consumers worthless “audits” and other documents that the defendants claimed would help save consumers from mortgage foreclosure. “These so-called loan audits are a scam and a waste…
FOR IMMEDIATE RELEASE: September 4, 2019 National Consumer Law Center contacts: Alys Cohen ([email protected]) or Jan Kruse ([email protected]); (617) 542-8010 Boston – As Hurricane Dorian bears down on the U.S., advocates at the National Consumer Law Center (NCLC) applaud U.S. Department of Housing and Urban Development (HUD) for improving programs available to HUD-insured homeowners after…
FOR IMMEDIATE RELEASE: August 30, 2019 Education Department Erects New Barriers to Relief for Students Harmed by School Fraud and Closures; Protects For-Profit College Industry at Expense of Students Boston – Today, the U.S. Department of Education (Department) announced new rules that will make it much harder for students who are harmed by illegal school…
FOR IMMEDIATE RELEASE: August 20, 2019 Washington, D.C. – After a vote today by the Federal Deposit Insurance Commission (FDIC) Board of Directors, banks making home mortgages will no longer need to obtain an appraisal for mortgages under $400,000. With the increased threshold approved by the FDIC today, a total of 72% of home mortgage…
Read More about FDIC’s New Mortgage Appraisal Rule Ignores Lessons of Great Recession
FOR IMMEDIATE RELEASE: August 19, 2019 HUD Plan Would Fuel Substantial Declines in Black Homeownership The following is a statement by Odette Williamson, National Consumer Law Center (NCLC) attorney and director of NCLC’s Racial Justice and Economic Opportunity Project. Today, the U.S. Department of Housing and Urban Development’s (HUD) issued a proposed rule that, if…
FOR IMMEDIATE RELEASE: August 12. 2019 National Consumer Law Center contact: Chi Chi Wu ([email protected]) or (617) 542-8010 Statement Regarding Credit Report/Score Requirement in DHS Public Charge Regulation Boston – Today, the Department of Homeland Security (DHS) released a regulation that greatly expands what will be considered in determining whether an immigrant is considered a…
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FOR IMMEDIATE RELEASE: August 9, 2019 Washington, D.C.- Advocates at the National Consumer Law Center decried the decision announced yesterday by the Federal Housing Finance Agency (FHFA) to remove a question about the mortgage applicant’s language preference from the Uniform Residential Loan Application (URLA), the form used widely across the mortgage market. FHFA had announced…
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