S1310/A4598 Will Harm NJ Consumers
S1310/A4598 will hurt New Jersey consumers by legalizing debt adjustment, also known as debt settlement. Debt adjustment is one of the worst options for people in debt.
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NCLC Comments to CFPB Proposed Rule to Regulate Data Brokers under the FCRA
These are NCLC’s comments supporting a proposed rule by the Consumer Financial Protection Bureau to regulate certain data brokers as “consumer reporting agencies” under the Fair Credit Reporting Act. The proposed rule:
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Letter to Members of Congress to Protect Protections and Relief Programs for Student Loan Borrower
This large coalition letter requests that Members of Congress protect higher education and student loan borrower funding during the reconciliation process.
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Why Debt Settlement is Bad for People in Debt
Debt settlement doesn’t work. It hurts people in debt. And it hurts businesses too. This document lists the many reasons why consumers should avoid debt settlement companies and why state legislators should do more to restrict it.
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Amicus Brief: Laboratory Corporation of American Holdings v. Davis
NCLC joined an amicus brief authored by Schnapper-Casteras PLLC with AARP, PJ, AAJ, the Impact Fund, NELA, and DRA in support of the Respondents in this case before the U.S. Supreme Court, which argues that putative class members are not required to each prove that they have Article III standing before a class is certified.
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Repay or Die Trying: Proposal to Eliminate Income-Driven Repayment (IDR) Plans Threatens to Swell Ranks of Older Adults Struggling with Student Debt
More than 13 million people rely on Income-Driven Repayment (IDR) plans to repay their federal student loans. IDR plans provide borrowers who cannot afford standard, fixed payments with an alternative way to repay based on their income and family size and to become student debt-free by making up to 25 years of payments.
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Left Out to Dry: Proposals to Streamline Student Loan Repayment Eliminate Affordable Pathways for Parent Borrowers
Parent PLUS loans are federal loans made to parents to help pay for their children’s college education. There are currently over 3.6 million people with Parent PLUS loans. A significant portion of today’s parent borrowers are very low-income and are struggling with repayment. Currently, they can access lower payments to help avoid distress and default…
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Letter to AG Bondi re Defending the Rule of Law, Legal Profession
NCLC joined a letter to Attorney General Bondi expressing concern regarding actions that the President and the Administration have taken targeting lawyers and the legal profession.
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Top Overdraft Fee Offenders Hitting Civilian, Military Families
Overdraft fees can be a significant source of profit. Financial institutions differ in the tactics used to increase or decrease the fees paid by struggling families and the amount of fees they collect. Among the 10 largest banks, JPMorgan Chase and Wells Fargo stand out, with $1 billion in overdraft fees in 2024, nearly four…
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National Consumer Groups Comments Urging the CFPB to Adopt Updated Credit Practices Rule
National groups urge the CFPB to issue its proposed rule codifying the application of the FTC’s Credit Practices Rule to financial institutions (Reg AA), and adopting three important new consumer protections. The proposed rule would forbid covered entities from including in their contracts 1) any clause that waives legal rights designed to protect consumers, 2)…
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Borrower Defense: What Will Happen to Students in Debt Because They Were Scammed by Their School if the 2022 Rule is Rescinded?
This short issue brief provides the top four ways rolling back the 2022 Borrower Defense Rule will make it harder for scammed students to receive relief.
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Letter Opposing Resolution to Overturn CFPB Payment Apps Oversight Rule
We oppose S.J. Res 28, a resolution under the Congressional Review Act (CRA) to overturn the CFPB’s rule enabling the agency to supervise the larger participants in the market for digital payment apps. The rule would prevent oversight to ensure that big tech companies comply with privacy and fraud laws.
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