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Student Loan Borrowers Need Real Relief, Not a COVID Stimulus Plan that Will Bury Them Deeper in Debt

July 27, 2020

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,…

Consumer Advocates to CFPB: Don't Destabilize the Mortgage Market in the Midst of a Pandemic

July 27, 2020

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…

Consumer Groups Demand Review of FCC Ruling that the Calling Industry Claims Will Allow Millions More Unsolicited Text Messages and Calls to Consumers’ Cellphones

July 24, 2020

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…

Leading Civil Rights & Housing Groups Condemn President’s Effort to Gut Fair Housing, Use of Incendiary Racial Rhetoric for Political Gain

July 23, 2020

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…

OCC Proposal Would Turn State Interest Rate Limits Into a “Dead Letter,” Causing Explosion of Rent-a-Bank Payday Lending that Will Devastate Struggling Families

July 20, 2020

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…

Alys Cohen to Testify at U.S. House Hearing on Mortgage Servicers’ Implementation of the CARES Act

July 15, 2020

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…

Report: Student Loan Borrowers Teetering on the Edge of Catastrophe after Having Tax Refunds Seized

July 15, 2020

FOR IMMEDIATE RELEASE: JULY 15, 2020 Congress Must Act to Stop Snatching of Earned Income Tax Credits Boston – This Tax Day, the National Consumer Law Center (NCLC) has released Voices of Despair: How Seizing the EITC Is Leaving Student Loan Borrowers Homeless and Hopeless During a Pandemic. The updated report builds on a 2018…

How to Get Help with Your Mortgage During COVID-19

July 9, 2020

FOR IMMEDIATE RELEASE: July 9, 2020 The following organizations have made this important information available in Spanish, Korean, Chinese, Vietnamese, Bangla, and English: AFR Language Access Task Force, Americans for Financial Reform Education Fund, Center for Responsible Lending, Consumer Action, Empire Justice Center, National CAPACD, National Consumer Law Center, National Fair Housing Alliance, and UnidosUS.…

CFPB Guts Curbs on Unaffordable 400% APR Payday Loans

July 7, 2020

FOR IMMEDIATE RELEASE: July 7, 2020 Washington, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) released its final rule gutting the protections against unaffordable payday loans. The previous payday loan rule, issued under former CFPB director Richard Cordray in October 2017, limited unaffordable loans that trap families in a cycle of debt. The CFPB…

Supreme Court Votes to Uphold Right to Stop Political Robocalls and Texts; Advocates Stress Importance of FCC in Upholding Key Consumer Privacy Law (TCPA)

July 6, 2020

FOR IMMEDIATE RELEASE: JULY 6, 2020 Washington, D.C. – Today, the U.S. Supreme Court, in Barr et al v. American Political Consultants, upheld the constitutionality of the provision of the Telephone Consumer Protection Act (TCPA) that gives Americans the right to stop unwanted robocalls and texts to their mobile telephones. The case, brought by a…

Advocates Slam FDIC Proposed Rule for Industrial Loan Companies as Invitation for Predatory Lending

July 2, 2020

FOR IMMEDIATE RELEASE: July 2, 2020 The bank regulator’s plan, described as “recipe for disaster” and as a way to “fuel financial exclusion,” provides an avenue for lenders to evade state laws that cap interest rates and to harm families suffering most in this economic downturn. WASHINGTON, D.C. – The National Consumer Law Center, on…

Alert: IRS Sending Letters About Unactivated Stimulus Prepaid Cards

July 2, 2020

FOR IMMEDIATE RELEASE: July 2, 2020 WASHINGTON, D.C. – People who have not received their Economic Impact Payments (EIP) should be on the lookout for letters being sent starting today by the Internal Revenue Service (IRS) telling them that they may have an unactivated prepaid card. Last month, the IRS sent stimulus payments via the…

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