Resources Archive

Comments to the Federal Reserve Regarding Regulation Z Provisions Implementing the Credit Card Accountability, Responsibility and Disclosures Act of 2009

January 5, 2011

These comments are submitted by the National Consumer Law Center (on behalf of its low-income clients), as well as the Center for Responsible Lending, Consumer Action, Consumer Federation of America, Consumers Union, Empire Justice Center, New York Legal Assistance Group, and the Sergent Shriver Center on Poverty Law. The comments address the Federal Reserve Board’s…

Features of a Safe Basic Banking or Prepaid Card Account

December 21, 2010

Over 17 million Americans are unbanked, relying on alternative, and often costly, financial services providers. Policymakers, consumer advocates and the banking industry are increasingly working to move people into the financial mainstream by promoting basic banking accounts. Prepaid cards have also been promoted as safe alternative transaction account. Indeed, the bank account and prepaid models…

Beyond the Credit CARD Act: Features of a Safer Credit Card

November 1, 2010

Credit cards have long been a source of confusion for consumers and a tool of manipulation for many card issuers. The Credit Card Accountability, Responsibility and Disclosure Act of 2009 (Credit CARD Act) created long needed protections for cardholders. But the Act did not eliminate all dangerous aspects of credit cards or every unfair or…

Model Form for Summary Data of Loan Modifications from Mediations/Conference

Proposed survey of results addenda

The Debt Machine: How the Collection Industry Hounds Consumers and Overwhelms the Courts

While financial crisis and recession have wreaked havoc on the American economy, the pain has been especially intense for consumers. Millions are now burdened with unpayable debts after they were enticed into borrowing during the credit boom.

GAO Testimony Regarding Debt Settlement: Fraudulent, Abusive, and Deceptive Practices Pose Risk to Consumers

April 22, 2010

GAO’s investigation found that some debt settlement companies engage in fraudulent, deceptive, and abusive practices that pose a risk to consumers.

Comments Regarding Implementation of Credit CARD Act Provisions on Reasonable and Proportional Penalty Fees and Re-evaluation of Rate Increases

April 14, 2010

The Center for Responsible Lending and the National Consumer Law Center (on behalf of its low-income clients), along with the Consumer Federation of America, Consumer Action, National Association of Consumer Advocates, and U.S. PIRG file comments to Federal Reserve on Proposed Regulation Z Rules Regarding Implementation of Credit CARD Act Provisions on Reasonable and Proportional…

Model Statute: Requirement for Loan Modification Analysis/Loss Mitigation Before Foreclosure

Comments Regarding Regulation Z Provisions Implementing the Credit Card Accountability, Responsibility and Disclosures Act of 2009

November 20, 2009

Comments of the National Consumer Law Center (on behalf of its low-income clients), the Center for Responsible Lending, Consumer Action, Consumers Union, Dēmos: A Network for Ideas & Action,National Association of Consumer Advocates, Sargent Shriver National Center on Poverty Law, and U.S. Public Interest Research Group addressing the Federal Reserve Board’s October 21, 2009 Notice…

Fee-Harvesters: Low-Credit, High-Cost Cards Bleed Consumers

November 1, 2007

Millions of consumers are being victimized by “credit” card offers that charge hundreds of dollars in fees and extend minimal available credit – sometimes as little as $50. These cards, which we call “feeharvester” cards, share a common thread: high fees that eat up most of an already low credit limit, leaving the consumer with…

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