Resources Archive

Deceptive Bargain: The Hidden Time Bomb of Deferred Interest Credit Cards

December 16, 2015

This National Consumer Law Center report reviews deferred interest credit card promotions, a deceptive practice that is growing. The practice should be banned due to its unfairness, especially as financially vulnerable consumers are most likely to fall prey to the trap. Executive Summary “Deferred interest” promotions on credit cards are a trap for the unwary.…

Installment Loans: Will States Protect Borrowers from a New Wave of Predatory Lending? (2015)

July 30, 2015

This National Consumer Law Center survey analyzes the strengths and gaps of the statutes in 50 states and Washington, D.C. that regulate installment loans, a market that is expected to grow as restrictions on payday loans increase.

Payday Lender Prepaid Cards: Overdraft and Junk Fees Hit Cash-Strapped Families Coming and Going

July 21, 2015

Prepaid cards are prepaid – a safe way to control spending for consumers who have had trouble with overdraft fees, have blemished credit, and may have lost their bank account. Except for prepaid cards sold by payday lenders. The largest payday lenders sell prepaid cards with unusual features that enable payday loans and profit from…

Debt collection communications: Protecting Consumers in the Digital Age

June 20, 2015

Communication technologies have changed considerably since the Fair Debt Collection Practices Act (FDCPA) was first adopted in 1977. Despite technology changes, traditional problems of abusive communications that prompted passage of the FDCPA remain rampant.

Two Sets of Comments in Response to CFPB Request for Information Regarding the Credit Card Market

June 17, 2015

The National Consumer Law Center is pleased to submit the following comments on behalf of our low income clients to the CFPB’s Request for Information Regarding the Credit Card Market. The CFPB’s request for information is pursuant to the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009.

Second Set of Comments in Response to CFPB Request for Information Regarding the Credit Card Market

June 17, 2015

First set of Comments in Response to CFPB Request for Information Regarding the Credit Card Market

May 18, 2015

Why the CFPB Should Ban Zombie Debt

January 20, 2015

Creditors increasingly sell charged-off debts to debt buyers rather than trying to collect on the accounts themselves. Debts may then be resold again and again between debt buyers with each owner potentially attempting to collect on the accounts. Over the course of these sales and collection attempts, the debts inevitably age. Consumers are routinely confronted…

Group Comments to the CFPB Regarding Defining Larger Participants in Auto Financing

December 8, 2014

These comments were submitted regarding the Consumer Financial Protection Bureau’s (CFPB) proposed rulemaking defining larger participants in the automobile financing market and defining automobile leasing activity as a financial product or service.

Strong Medicine Needed: What the CFPB Should Do to Protect Consumers from Unfair Collection and Reporting of Medical Debt

September 20, 2014

A Review of Hospital Financial Assistance Policies in the States The collective scope and impact on consumers from medical debt is enormous. According to the Commonwealth Fund, nearly 75 million working age adults (or about 41%) experienced problems with medical bills in 2012. In addition, 41 million adults (or about 22%) were contacted by a…

Group letter to the FTC petitioning enforcement action against CarMax for deceptive ads and sales practices

June 10, 2014

CarMax is the nation’s largest retailer of used vehicles. According to CarMax, it has sold more than 4 million cars. CarMax advertises on its website, on television, in newspapers, and at its dealerships that each of the used vehicles it offers for sale are “CarMax Quality Certified” and has undergone a rigorous, “125+ point inspection.”…

Comments to the CFPB Regarding Electronic Funds Transfers, Changes to Remittances Protections

June 6, 2014

The National Consumer Law Center, on behalf of its low-income clients, submitted the following comments to the Consumer Financial Protection Bureau to express our concerns regarding proposed changes to the regulations and Official Interpretations governing remittance transfers.

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