A lawsuit filed by the New York Attorney General against DailyPay reveals a business model built around trapping low-wage workers into paying hundreds of dollars in fees each year.
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This is a Fact Sheet in opposition to MA S.705 & H.1106: An Act relative to home investments. This is an industry bill that is being run across the country that defines shared appreciation agreements as not being residential mortgage loans, thus exempting them from federal and state mortgage lending rules and protections.
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Medicaid plays a crucial role in ensuring that millions of working-class, aging, and disabled individuals can receive necessary long-term services and supports (LTSS) in their own homes and communities. Federal policy, however, forces state Medicaid programs to pursue recovery of LTSS costs accrued at age 55 and older from the estates of deceased beneficiaries, often…
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A new form of fintech payday loan offered through cash advance apps uses “tips” as a form of disguised interest. These apps claim that tips are voluntary, but they use dark patterns, actual or implied repercussions for not tipping, manipulative interfaces, behavioral and psychological tricks, and other techniques to make tips almost as certain as…
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The housing crisis for low- and moderate-income renters continues. The new Administration’s actions, such as potential cuts to staff and programs at the Department of Housing and Urban Development, will likely exacerbate it. These developments add to the existing challenges of a severe shortage of affordable, decent housing; spiking rent increases; and abuses by corporate…
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S1310/A4598 will hurt New Jersey consumers by legalizing debt adjustment, also known as debt settlement. Debt adjustment is one of the worst options for people in debt.
Debt settlement doesn’t work. It hurts people in debt. And it hurts businesses too. This document lists the many reasons why consumers should avoid debt settlement companies and why state legislators should do more to restrict it.
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More than 13 million people rely on Income-Driven Repayment (IDR) plans to repay their federal student loans. IDR plans provide borrowers who cannot afford standard, fixed payments with an alternative way to repay based on their income and family size and to become student debt-free by making up to 25 years of payments.
Parent PLUS loans are federal loans made to parents to help pay for their children’s college education. There are currently over 3.6 million people with Parent PLUS loans. A significant portion of today’s parent borrowers are very low-income and are struggling with repayment. Currently, they can access lower payments to help avoid distress and default…
Overdraft fees can be a significant source of profit. Financial institutions differ in the tactics used to increase or decrease the fees paid by struggling families and the amount of fees they collect. Among the 10 largest banks, JPMorgan Chase and Wells Fargo stand out, with $1 billion in overdraft fees in 2024, nearly four…
Read More about Top Overdraft Fee Offenders Hitting Civilian, Military Families
This short issue brief provides the top four ways rolling back the 2022 Borrower Defense Rule will make it harder for scammed students to receive relief.
This brief disaggregates arrearage data by customer class, looking at the discount rate and standard rate customers separately.
Read More about Massachusetts Discount Rate Customers Falling Farther Behind on Utility Bills
