Selected Resources About Medical Lending Products
CFPB Resources: Community Catalyst Resources: NCLC Resources: Other Resources:
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Cornerstone Credit Union League et al. v. CFPB et al.
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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Fact Sheet: Protecting Homeowners from Zombie Second Mortgages
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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CFPB Big Tech Payment App Oversight Rule Protects Personal Data and Reduces Fraud
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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Coalition Letter to Congress Opposing Diverting Resources from Education to Other Areas in Reconciliation
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…
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Testimony in Support of Oregon H.B. 2967, a Bill That Would Prohibit Rental Application Fees
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.
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Insurance Marketing Coalition Ltd. v. Federal Communications Commission et al.
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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Testimony Against Washington State HESA Bill HB 1464
Washington State HB 1464 regarding home equity sharing agreements will expose Washington homeowners to a dangerous loan product. The bill lacks adequate protections and codifies the deceptive claim that these products are not loans. NCLC urges legislators to oppose it.
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Fact Sheet for Regulating Shared Appreciation Mortgages; Massachusetts S.731 / H.1145
In November 2024, a provision in the Economic Development bill (Section 269) created a dangerous loophole for homeowners by granting a blanket waiver of liability for non-profit Shared Appreciation Mortgages (SAMs), stripping away crucial consumer protections and leaving homeowners vulnerable to predatory lending practices. S.731 / H.1145 closes the loophole created by Section 269 and…
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NTEU, NCLC and others v. Vought, Case No. 1:25-cv-00381 (D.D.C)
On February 13, 2025, NCLC, along with the NAACP, the Virginia Poverty Law Center, individual Plaintiff Pastor Eva Steege and the CFPB Employee Association, joined a lawsuit as Plaintiffs that was filed by the National Treasury Employees Union against the CFPB’s Acting Director Russell Vought in D.C federal court. Plaintiffs moved for a Temporary Restraining…
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ACA International et al. v. Consumer Financial Protection Bureau et al.
ACA International et al. v. CFPB, No. 4:25-cv-94 (S.D. Tex.) This case was brought by various banking associations against the CFPB to challenge the validity of the CFPB’s Medical Debt Rule (Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information (Regulation V) 90 Fed. Reg. 3276-3374 (Jan. 14, 2025)), which removed medical debt from…
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Mississippi Bankers Association et al v. Consumer Financial Protection Bureau
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…
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