Washington, D.C. – Advocates at the National Consumer Law Center (NCLC) applauded today’s introduction in Congress of a bill to cap interest rates nationwide at 36%, including fees, which NCLC is supporting on behalf of its low-income clients. “It is fitting that as we celebrate Veterans’ Day that we honor our veterans by extending to…
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National Consumer Law Center’s 50-State Review: ‘Horse and Buggy’ Laws Need Major Reform Boston – Millions of families have still not recovered from the Great Recession of 2008, and the astronomic growth of the debt buyer industry makes them increasingly vulnerable to seizure of essential wages and property to pay their oldest debts. A new…
Read More about Report: States Put Families at Risk to Feed an Insatiable Debt Collection Machine
FOR IMMEDIATE RELEASE: November 7, 2019 Washington, D.C. – A coalition of 61 consumer, civil rights, and community groups today sent letters to three federal bank regulators urging them not to allow their banks to help payday lenders evade state interest rate limits. The groups sent separate letters to the Federal Deposit Insurance Corp. (FDIC),…
Boston – On October 31, 2019, the U.S. Department of Education issued final rules, effective July 1, 2020, that will erode states’ rights to enforce consumer protections applicable to for-profit online education colleges. The rules will have a disastrous effect on students, especially low-income and other vulnerable students. Following is a statement by Robyn Smith,…
FOR IMMEDIATE RELEASE: October 24, 2019 “It sends a terrible signal for the FDIC and OCC to support a predatory lender that used a bank to enable a destructive 120% APR loan.” WASHINGTON, D.C. – Small business advocates, consumer groups, and civil-rights advocates today sent a letter to the Federal Deposit Insurance Corp. (FDIC) and…
Read More about Groups: FDIC & OCC Are Wrong to Support Predatory Small Business Lender
Prolific robocaller Yodel Technologies seeks exemption for making over 77 million unwanted and illegal telemarketing calls using AI and prerecorded voice messages. WASHINGTON – Yodel Technologies (Yodel) seeks to escape liability by petitioning the Federal Communications Commission (FCC) for an exemption for its “robot calls.” Using its “soundboard” technology to mimic a consumer’s interaction with…
Read More about Robot Calls (prerecorded audio clips) Are Prerecorded Calls. And the FCC Agrees.
WASHINGTON – On Thursday, the Consumer Data Industry Association (CDIA) sued the State of New Jersey over its new law requiring credit reports to be provided in Spanish and 10 other languages, claiming the law is preempted and a violation of the First Amendment. CDIA is a trade association for the credit reporting industry, the…
Consumer Impact is a biannual publication of the National Consumer Law Center to inform our supporters about NCLC’s advocacy.
FOR IMMEDIATE RELEASE: October 16, 2019 National Consumer Law Center contacts: Lauren Saunders ([email protected]) or Jan Kruse ([email protected]) Washington, D.C. – Advocates at the National Consumer Law Center urged the public to check out a new online tool from the Consumer Financial Protection Bureau (CFPB) where consumers, workers, researchers, employers, and others can see prepaid…
Washington, D.C. – Advocates at the National Consumer Law Center applauded news that California Governor Gavin Newsom late yesterday signed into law AB 539, a bill to stop outrageous interest rates that payday lenders in California are charging on their larger, long-term payday loans, but warned that the payday lenders are already plotting to evade…
Read More about New California Law Targets Long-Term Payday Loans; Will Payday Lenders Evade it?
Boston – Last week, the Consumer Data Industry Association (CDIA) sued the State of Maine over two laws recently passed to protect consumers from unfair credit reporting practices. CDIA is a trade association for the credit reporting industry, the biggest players, which are Equifax, Experian and TransUnion. The first Maine law helps consumers who are…
Boston – Statement of Persis Yu, director of the National Consumer Law Center’s Student Loan Borrower Assistance Project, in response to today’s introduction of a scaled-back higher education bill by Senator Lamar Alexander: “Students and borrowers need real, wholesale reform of the Higher Education Act to make it easier for borrowers to succeed in student…
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