Cornerstone Credit Union League and Consumer Data Industry Association v. CFPB and Acting Director of the CFPB, No. 4:25-cv-00016-SDJ (E.D. Tex.) This case was brought by a credit union trade group and a credit reporting trade group against the CFPB to challenge the validity of the CFPB’s Medical Debt Rule (Prohibition on Creditors and Consumer…
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Remember the subprime mortgage crisis of the early 2000s? One toxic product that contributed to the crisis was the “80-20 mortgage,” where homeowners took out a first and second mortgage simultaneously. When the housing bubble burst, these second mortgages, often held by investors, became worthless. Many homeowners, understandably, believed these second mortgages were dead and…
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Rule Enables CFPB to Monitor Companies Like PayPal, Venmo, Cash App, X Money The Consumer Financial Protection Bureau (CFPB) has finalized a rule allowing it to supervise larger nonbank companies that offer services like digital wallets and payment apps, also known as peer-to-peer or P2P apps. Supervision of these companies will make sure they comply…
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This letter, signed by NCLC and other national organizations with expertise in college access, affordability, and the federal student aid program, expresses opposition to any reconciliation legislation that diverts essential educational resources to other policy areas. As explained in the letter, this short-sighted approach would diminish access to quality postsecondary education, increase the cost for…
H.B. 2967 would eliminate harmful application fees. The bill is easy for both prospective tenants and landlords to understand, which has the added benefit of making enforcement more straightforward. And, critically, it would make the difficult search for rental housing more affordable and allow applicants to put their money toward their actual rent payments.
Insurance Marketing Coalition Ltd. v. FCC, et al., No. 24-10277 (11th Cir.) This case was brought by an insurance trade group against the FCC to challenge the validity of the FCC’s One-to-One Consent Rule, which would require telemarketers to obtain consent directly from a consumer before robocalling them. The Rule would have eliminated billions of…
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