CFPB Fact Sheets (2024)
The following fact sheets were released by the Consumer Financial Protection Bureau in December of 2024 under former Director Rohit Chopra.
All Resources
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Written Testimony to Maine Legislature Joint Standing Committee on Taxation in Support of LD 1901
NCLC supports the passages of LD 1901, An Act to Regulate Shared Appreciation Agreements Relating to Residential Property that provides necessary boundaries around Shared Appreciation Agreements, a complex financial product that is often marketed without clear disclosure or regard for long-term impacts on homeowners. It ensures transparency, fairness, and accountability—especially for vulnerable consumers.
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Letter Opposing Connecticut S 1396 Earned Wage Advances
NCLC opposes Connecticut SB 1396, An Act Concerning Earned but Unpaid Wage or Salary Income Advance, which exempts earned wage advance payday loans from Connecticut’s interest rate caps.
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DailyPay Extracts Hundreds of Dollars From Low-Wage Workers’ Pay
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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Massachusetts H.1106 Will Legalize Hiding Dangerous Mortgage Terms
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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Getting Calls from Fake Debt Collectors?
You get a call out of the blue. The caller insists you owe money and says you’ll be arrested if you don’t pay immediately. You have no idea what she’s talking about. What do you do? The FTC says that Global Circulation, Inc. (which did business using names like Consumer Impact Recovery and Total Mediation Solutions) used…
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Coalition Letter to Energy Secretary Urging Adequate Staffing for the Department's Weatherization Assistance Program
National Consumer Law Center (NCLC), ACEEE, the National Energy Assistance Directors Association (NEADA) and National Association of State Utility Consumer Advocates (NASUCA), urge U.S. Department of Energy Secretary Chris Wright to ensure the continued effectiveness of the Department’s Weatherization Assistance Program (WAP) by maintaining sufficient staffing to administer WAP, a program that has a history…
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What States Can Do to Help Consumers: Medicaid Estate Recovery
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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Testimony in Support of Rhode Island H 6055 on Interest and Usury
We are supporting Rhode Island H 6055, which prevents predatory rent-a-bank lenders from evading the state’s interest rate limits.
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Sign On to the FCC in Support of the National Congress of American Indians and the Navajo Nation's Request for a Tribal Licensing Window (Spectrum)
This is a s sign on letter to the FCC in support of the National Congress of American Indians and the Navajo Nation’s request for a Tribal Licensing Window re the AWS-3 reauction (spectrum). This would provide tribal nations with spectrum rights over their land and facilitate closing the digital divide.
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Letter Opposing the Regulations from the Executive in Need of Scrutiny Act (REINS Act)
We oppose H.R. 142 (Cammack)/S. 485 (Paul) Regulations from the Executive in Need of Scrutiny Act (REINS Act). The bill would prohibit agencies from enforcing important consumer protection rules that have a large economic impact unless Congress acts to approve the regulations in a short window of time.
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Reply Comments of Nine National Consumer Groups Responding to FCC's Delete, Delete, Delete Docket
Reply comments from nine national consumer and privacy groups in response to the docket initiated solely by Chairman Carr entitled “Delete, Delete, Delete.” We urge the Federal Communications Commission (Commission or FCC) to prioritize protecting consumers from widescale fraud and invasion of privacy facilitated through unwanted and illegal calls and text messages placed through the…
