DA Mike Hestrin Announces $4 Million Consumer Protection Settlement with Renovate America Inc
News release for California District Attorneys Settlement with PACE program administrator Renovate America.
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Advocates Applaud the Fed’s Faster Payment System, Urge Fraud Protection
FOR IMMEDIATE RELEASE: August 6, 2019 Washington, D.C. – Advocates at the National Consumer Law Center applauded yesterday’s announcement by the Federal Reserve Board (the Fed) that it will develop a real-time payment system, while urging the Fed to ensure protection against scammers and criminals who use faster payment systems to receive and move money.…
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Government Report Shows Harm to Consumers from HUD Loan Auctions to Private Equity Firms
FOR IMMEDIATE RELEASE: August 2, 2019 Boston – A report released to the public today by the U.S. Government Accountability Office (GAO) analyzes the U.S. Department of Housing and Urban Development’s (HUD) Loan Sale Program and shows the harm the program has caused to FHA-insured homeowners. According to the GAO, the mortgage loans that were…
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Statement Regarding Capital One Data Breach
FOR IMMEDIATE RELEASE: July 30, 2019 Boston – Chi Chi Wu, staff attorney at National Consumer Law Center, issued the following statement and advice to consumers about the Capital One data breach: “It’s disappointing but not unexpected that consumers face yet another breach of our sensitive financial information. By now, consumers should assume there is…
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National Consumer Law Center and the Consumer Federation of America Urge CFPB to Maintain Ability to Repay Determinations for All Mortgage Loans
FOR IMMEDIATE RELEASE: July 25, 2019 Washington, D.C. – Advocates at the National Consumer Law Center and the Consumer Federation of America issued the following statement today in response to the Consumer Financial Protection Bureau’s (CFPB) announcement of an Advance Notice of Proposed Rulemaking regarding the Dodd-Frank Act ability to repay and qualified mortgage rules.…
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U.S. General Accountability Office Report Misses the Mark on Income-Driven Repayment Plans
FOR IMMEDIATE RELEASE: July 25, 2019 BOSTON- Today, the U.S. Government Accountability Office (GAO) released a report on the Department of Education’s process for verifying income and family size when determining income-driven repayment amounts. For student loan borrowers struggling to repay their loans, income-driven repayment (IDR) plans are a lifeline that helps millions of people stay…
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Consumer Groups Praise Overwhelming House Passage of Strong Anti-Robocalls Bill
WASHINGTON, D.C. — The U.S. House of Representatives struck a strong bipartisan blow against robocalls plaguing consumers today with a near-unanimous 429 – 3 vote to pass H.R. 3375, the Stopping Bad Robocalls Act. The bill takes major steps to curb abusive robocalling by adopting important new consumer protections including: Requiring clear FCC regulations to…
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National Consumer Law Center Attorney Chi Chi Wu to Testify on July 25 before U.S. House on Use of Alternative Credit Data to Expand Access to Credit
FOR IMMEDIATE RELEASE: July 24, 2019 Boston – On Thursday, July 25, at 10 a.m. ET, National Consumer Law Center attorney Chi Chi Wu will testify before the U.S. House Task Force on Financial Technology at the hearing “Examining the Use of Alternative Data in Underwriting and Credit Scoring to Expand Access to Credit.” During her…
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Statement Regarding Support of Bills to Relieve Student Loan Debt
FOR IMMEDIATE RELEASE: July 23, 2019 Boston – Today marks the introduction of the second of two bills designed to help Americans burdened with student loan debt. Today, U.S. Senator Warren and Representative Clyburn introduced the Student Loan Debt Relief Act. Last month, the Student Debt Cancellation Act was introduced by US. Senator Sanders (S.1947)…
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Statement Regarding Settlement with Equifax over its 2017 Data Breach
FOR IMMEDIATE RELEASE: July 22, 2019 Boston – Today, class action attorneys, federal regulators (Federal Trade Commission and Consumer Financial Protection Bureau (CFPB), and state Attorneys General reached a settlement with Equifax regarding its data breach that affected 147 million consumers. The final settlement includes a $175 million civil penalty to states, $100 million civil…
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Federal Government Strips Legal Rights of Older Consumers in Nursing Homes
FOR IMMEDIATE RELEASE: July 17, 2019 Washington – Late yesterday, the U.S. Center for Medicare & Medicaid Services (CMS) released its final nursing home arbitration rule, allowing nursing homes to force residents into arbitration and depriving them of access to the courts in case of a dispute. In 2017, National Consumer Law Center and dozens of other…
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Bipartisan House Bill Moves Forward in the Fight to Stop Unwanted Robocalls
FOR IMMEDIATE RELEASE: JULY 17, 2019 Washington, D.C. – Today, the U.S. House Committee on Energy and Commerce passed unanimously (48-0) the Stopping Bad Robocalls Act (HR 3375). The bipartisan bill was introduced in June by Rep. Frank Pallone (D-NJ) and Rep. Greg Walden (R-OR), chair and ranking member, respectively, of the U.S. House Committee on Energy and…
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