Issue Brief Archives

Coronavirus Emergency: What Borrowers Need to Know about Student Loan Relief

April 22, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act (effective March 27, 2020) addresses urgent public health and economic needs in the face of the COVID-19 crisis. STUDENT LOAN RELIEF UNDER THE CARES ACT: Provides some relief but only for Direct Loan and Federal Family Education Loans (FFEL) currently owned by the U.S. Department…

What Consumers Need to Know About Covid-19 Mortgage Relief

April 21, 2020

Federal and states government have announced measures to assist millions of Americans facing an inability to make their monthly mortgage payments due to the COVID-19 emergency. You should pay your mortgage if you can afford it. If you cannot make a mortgage payment, relief may be available. Under federal law, a servicer cannot start the…

The Need for Utility Reporting of Key Credit and Collections Data Now and After the Covid-19 Crisis

April 8, 2020

The challenges posed by the Covid-19 crisis have heightened the importance of sustained, affordable access to essential home energy service for all households across the nation. Yet, there is currently only limited capacity in the U.S. to gain a clear, data-driven understanding of the number of households that lose access to home energy services and…

Coronavirus Emergency: Why States Need to Act Now to Protect Families’ Stimulus Payments

April 14, 2020

As a result of the $2.2 trillion CARES Act, the federal government will issue stimulus payments to millions of income-qualified Americans. The purpose of the checks is to help people pay for food, utilities, rent, medicine, and other basic necessities at a time when many have been told to stay home and have lost or…

Coronavirus Emergency: Preventing Garnishment of Stimulus Checks

April 7, 2020

As a result of the $2.2 trillion CARES Act, the federal government will issue stimulus checks tomillions of income-qualified Americans. The purpose of the checks is to help people cover food,utilities, rent, medicine, and other basic necessities at a time when many have been told to stayhome and have lost income. Garnishment of these funds…

Issue Brief: The U.S. Treasury Can and Should Ensure that Stimulus Payments Go for Families’ Food and Necessities, not to Debt Collectors

April 14, 2020

Millions of Americans have suffered an immediate and dramatic loss of income as a result of theCOVID-19 shut down. To help these Americans, the Coronavirus Aid, Relief, and EconomicSecurity (CARES) Act provides for payments to individuals up to $1,200 so that people can payfor food, rent, utilities, medicine, and other basic necessities.

Coronavirus Emergency: Consumer Debt Collection Lawsuits - How States Can Help

March 18, 2020

Lawsuits are a common method used to collect alleged consumer debts, and these lawsuitsmake up a large percentage of the civil court docket around the country. Court traffic creates asubstantial risk of spreading the virus to litigants, attorneys, court personnel, and the public.

Recommendations to Improve Servicing and Reduce Foreclosures of Federal Reverse Mortgages

Reverse mortgages are intended to help older Americans age in their homes. Yet, across thecountry, reverse mortgage borrowers and their spouses are losing their homes because theU.S. Department of Housing and Urban Development (HUD) has not acted to preventunnecessary foreclosures. HUD should take immediate action to expand home retentionoptions for reverse mortgage borrowers who fall…

Covid-19 Pandemic Requires Federal, State and Municipal Action to Stop Involuntary Utility, Water, and Telecommunications Shut-offs

March 11, 2020

Action Is Needed to Ensure Access to Essential Utility Services for All Persons, Regardless of Ability to Pay, During the Public Health Emergency.

Congress Must Provide Relief to Defaulted Student Loan Borrowers

March 17, 2020

Currently 44 million student loan borrowers owe $1.6 trillion of student loan debt. Over a million federal Direct Loan borrowers entered default in a 12-month period alone. Borrowers in default are disproportionately low-income and people of color. These are the borrowers currently experiencing the brunt of America’s student loan crisis. They are the borrowers most…

After Payday Loans: Consumers Find Better Ways to Cope with Financial Challenges

March 1, 2022

Payday lenders and high-cost installment lenders offer fast cash loans that do far more harm than good, adding to rather than alleviating financial distress. As a growing number of states have curtailed high-cost lending, experience shows that people are better off and find better options. The American public, on a bipartisan basis, strongly supports capping…

Full File Utility Credit Reporting: Harms to Low-Income Consumers

June 12, 2013

One of the efforts to promote alternative credit data urges that utility companies engage in monthlyreporting of customer payments, including late payments, to the Big Three nationwide credit reportingagencies (CRAs), Equifax, Experian, and TransUnion. Currently, the vast majority of electric and naturalgas utility companies only report to those three CRAs when a seriously delinquent account…

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