Newsroom

U.S. Senate Votes to Roll Back Consumer Bureau Effort to Thwart Auto Lending Discrimination

April 18, 2018

FOR IMMEDIATE RELEASE: APRIL 18, 2018 Boston – The U.S. Senate today voted to repeal guidance issued in 2013 by the Consumer Financial Protection Bureau to help auto finance companies avoid racial and ethnic discrimination by holding them accountable to fair lending laws. “It’s outrageous that the Senate voted to claw back this five-year old…

Advocates: Department of Education Plan to Redo Rule that Protects Students Harmed by Illegal School Conduct Falls Short

January 18, 2018

Boston – Today, the Department of Education (Department) announced during its Negotiated Rulemaking session that it intends to redo its July 2018 proposal to revise the borrower defense rule, but indicated it will do so without complying with the statutory requirement to conduct a formal rulemaking proceeding and convene a committee of stakeholders. The borrower…

Second National Poll Indicates Strong Support for Reform of Paid Tax Preparer Industry

March 22, 2017

NCLC Report: Why High-Rate Installment Lenders Want Borrowers Who Will Default

July 21, 2016

FOR IMMEDIATE RELEASE: JULY 21, 2016 || Contacts: Lauren Saunders ([email protected] or 202.595.7845) Access full report, charts, and additional resources: http://bit.ly/2a8I9T5 (WASHINGTON) As the Consumer Financial Protection Bureau prepares to tighten rules for payday loans, lenders are moving into dangerous high-rate installment loans, according to a new report from the National Consumer Law Center (NCLC). Misaligned Incentives: Why…

2015 Report: State Installment Loan Laws Leave Borrowers Vulnerable in New Wave of Predatory Lending

July 30, 2015

NCLC’s 50 State Survey Analyzes Strengths and Gaps in Consumer Protections (BOSTON) Payday lenders are moving into the installment loan market, and state laws vary greatly in whether they protect borrowers from unaffordable rates on longer term loans, according to a new report from the National Consumer Law Center (NCLC). The report analyzes the strengths…

Supreme Court Decision Strikes Blow Against Tribal Online Payday Lenders

May 29, 2014

(WASHINGTON, D.C.) A Supreme Court decision yesterday will have serious repercussions for illegal online payday lenders who claim to be affiliated with a Native American tribe, according to National Consumer Law Center attorneys with expertise in payday lending and tribal sovereign immunity. Although the decision in Michigan v. Bay Mills Indian Community was a victory…

Advocates Commend CFPB’s Intent to Address Debt Complaints; Federal Regulators Will Create Proposed Rules to Curb Predatory Debt Collection Tactics

March 3, 2014

WASHINGTON – Year after year, one of the top consumer complaints to the Federal Trade Commission (FTC) is problems with debt collection. Complaints are skyrocketing: from 13,950 in 2000 to 199,721 in 2012 – more than a 900% increase in just over a decade. In January 2014 alone, consumers registered about 3000 complaints regarding debt…

CFPB to Hold Auto Lenders Accountable for Discrimination in Auto Lending

March 6, 2013

Yesterday the Consumer Financial Protection Bureau (CFPB) announced it would hold banks and other lenders liable for any auto loans in their portfolio that are discriminatory. Consumer advocates were encouraged by the announcement and hope it is the first step toward eliminating unfair interest-rate markups by auto dealers. Dealers should not be allowed to sell…

NCLC Reports: Debt Collection and Repossessions Edition

September 1, 2009

Special Issue on New Rule Preventing Bank Freezes of Exempt Federal Benefits.

Credit Card Protections Take Effect Feb. 22 But Loopholes and Abuses Persist

February 17, 2010

Financial Watchdog Needed; Advice to Consumers On Monday, February 22, the long-awaited – and long-needed – protections of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act go into effect. The Credit CARD Act, passed in May of last year, puts an end to some of the worst abuses by credit card companies. Even after…

Debt Collection Abuses Widespread

July 15, 2010

BOSTON – Debt companies pursuing consumers with a small army of collectors have swamped small claims courts with lawsuits and left a trail of abuses that, in 2009, led consumers to file more than 120,000 complaints with federal regulators. “The Debt Machine: How the Collection Industry Hounds Consumers and Overwhelms Courts,” released today by the…

Scorecard Shows Consumers Pay Steep Rates for Small Loans: Financial Reform Should Include a Strong Consumer Financial Protection Agency

May 13, 2010

WASHINGTON, D.C. – Many states are failing to provide adequate protections for consumers against extremely expensive credit according to a new report by the National Consumer Law Center, Consumer Federation of America, and Consumers Union. The Scorecard updates a 2008 report and grades states on how well they protect consumers from excessive interest charges on…

Newsroom

Support NCLC