Resources Archive

Mississippi Bankers Association et al v. Consumer Financial Protection Bureau

February 5, 2025

Mississippi Bankers Association et al v. CFPB, No. 3:24-cv-00792-CWR-LGI (S.D. Miss.) This case was brought by various banking associations against the CFPB to challenge the validity of the CFPB’s Overdraft Rule (Overdraft Lending: Very Large Financial Institutions, 89 Fed. Reg. 106768 (Dec. 30, 2024)), which reduces surprise overdraft fees charged by large financial institutions to…

NCLC Statement for the Record on Senate Committee on Banking, Housing, and Urban Affairs Hearing on Investigating the Real Impacts of Debanking in America

February 5, 2025

Bank account access is crucial for participation in the U.S. financial system. Lawful access to bank accounts can be improved by the implementation of the CFPB’s overdraft fee rule, by giving consumers information and remedies when their accounts are inappropriately frozen or closed, and by ensuring that overbroad derisking efforts under cover of Bank Secrecy…

Legal Aid Comments on Proposed Rules on Financial Hardship-based Student Debt Relief

December 2, 2024

These comments, submitted on behalf of organizations across the country that provide freelegal assistance to low-income people, address the U.S. Department of Education’s proposed rules to clarify the use of the Secretary’s longstanding authority to grant a waiver of some or all of the outstanding balance on a federal student loan based on financial hardship.…

201 Groups Oppose Repealing CFPB Overdraft Fee Rule

February 5, 2025

The undersigned 201 consumer, civil rights, labor, legal services and community organizations and academics write to urge you to oppose efforts to overturn the Consumer Financial Protection Bureau’s overdraft fee rule, which will reduce most overdraft fees from $35 to $5, stop manipulative practices by big banks, improve transparency, and put $5 billion back into…

Testimony Against Washington Debt Adjustment Bill HB 1599

February 4, 2025

NCLC urges the Washington state House of Representatives to oppose HB 1599. This bill will substantially weaken Washington’s protections against unfair debt adjustment (debt settlement) services.

Letter in Opposition to New Mexico HB 59

January 31, 2025

HB 59 would exempt fintech payday loans from New Mexico’s lending laws and interest rate limits. The bill is based on the model law by the conservative American Legislative Exchange Council (ALEC). It offers a fee limit that would still result in triple digit APRs and mounting fees, places no cap on purportedly voluntary “tips”…

Joint Comments to CMS on Medicare Current Beneficiary Survey

June 25, 2024

NCLC filed comments with Justice in Aging and Community Catalyst to HHS to help better understanding the impact of medical debt on older adults. The comments support the addition of medical debt questions on the CMS Medicare Current Beneficiary Survey (MCBS), an annual survey of people covered by Medicare to better understand their health care…

The CFPB Medical Debt Collection Advisory Opinion Protects Consumers from Illegal Collection Practices

February 4, 2025

The CFPB issued an advisory opinion to remind debt collectors that attempting to collect medical debts that are not owed and certain other tactics are unlawful under the FDCPA.

The CFPB: Protecting Servicemembers and Veterans

February 4, 2025

Companies that profit by cheating and exploiting our military and veterans are attacking the CFPB.

CFPB’s Medical Debt Credit Reporting Rule Is a Lifeline to 15M People

January 31, 2025

The rule will help people with unjustly lowered credit scores by lessening medical debt’s impacts and relieving pressure to pay wrongful bills The Consumer Financial Protection Bureau’s (CFPB) medical debt credit reporting rule will remove medical bills from credit reports sent to lenders by companies like Equifax, TransUnion, and Experian. The rule also prohibits lenders…

Testimony in Support of HB 268 (Maryland)

January 29, 2025

Testimony in support of HB 268, which creates consistent guidelines and discounts for patients seeking to access financial assistance, expands eligibility for financial hardship assistance, prohibits reporting hospital medical debt to credit reporting agencies, and bans hospital lawsuits for medical debt of $500 or less in Maryland.

The CFPB Protects People From Abusive Debt Collection Practices

January 29, 2025

The Consumer Financial Protection Bureau (CFPB) enforces consumer protection laws and protects people from financial companies engaged in unfair, deceptive, and abusive practices. Since its creation, the CFPB has leveled the playing field between companies that treat consumers fairly and those that do not, obtaining more than $21 billion in relief for over 205 million…

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