This bill will substantially weaken Oregon laws protecting financially strapped consumers and will expose consumers to predation by the “debt resolution services” industry. Debt resolution—more commonly known as debt settlement—is a wolf insheep’s clothing. It advertises relief, but it leaves consumers worse off than before they signed up. Oregon should reject this bill.
Consumer, faith, civil rights, labor, human rights, and community advocacy groups, urge support for the Predatory Lending Elimination Act (S3793), sponsored in the Senate by Senator Jack Reed. This bill is the solution to the worst practices by predatory lenders in the consumer loan market. By expanding the protections already afforded active-duty service members under…
Read More about Coalition Letter in Support of the Predatory Lending Elimination Act
As debt collection lawsuits surge to pre-pandemic highs, more and more families will see their cash and property seized by debt collectors. All states protect some of a family’s property from seizure by debt collectors to enforce a court ruling for a debt, but in some states the protection is minimal or is so difficult…
Read More about Safe Deposits: How to Protect Family Bank Accounts from Debt Collectors
Payday loan apps take hundreds of dollars a year from people struggling to make ends meet. The apps exacerbate affordability problems, leaving people with depleted paychecks, trapped in a vicious cycle of reborrowing, and facing manipulations that multiply fees: Annual percentage rate limits or low, comprehensive monthly fee caps are the only way to prevent…
Read More about The Affordability Problem of Earned Wage Payday Loans
The National Consumer Law Center and the American Financial Services Association do notagree on everything, but we agree on this: HB 4141 should not pass as written. Many companiesoffering debt resolution services do more harm than good, and HB 4141 would enable rapidproliferation of these kinds of companies and their services in Oregon, displacing legitimate…
Read More about Joint NCLC-AFSA Letter Opposing Oregon Bill to Weaken Consumer Protections (HB 4141)
New York has passed the first comprehensive law to protect shoppers who use Buy Now, Pay Later (BNPL) loans. Some details remain to be fleshed out through regulations, and the law does not address every issue BNPL borrowers may face. But it is a significant step forward and provides a helpful roadmap for other states.…
Read More about States Can Protect Buy Now, Pay Later Borrowers
This letter from 52 economic justice, civil rights, labor, faith and other groups urges lenders, debt collectors, and credit bureaus to provide economic relief to Minnesotans who have been financially devastated by the overly aggressive surge of militarized activity in that state by ICE. The letter asks these companies, to:
This model law, the Model Consumer Debt Collection Reform Act, is intended to protect consumers from the most common abuses in the credit and collections industries, restoring balance to an increasingly lopsided system of justice. It is intended to ensure that consumers receive basic protections as creditors pursue collection lawsuits against them. The…
The Federal Communications Commission (FCC) sought public comment on its proposed changes to regulations of Incarcerated People’s Communications Services (IPCS). These regulations apply to all state and federal prisons, local jails, and immigration detention centers. They were promulgated to protect incarcerated people and their loved ones from having to pay exorbitant amounts to stay in…
NCLC, National Consumers League, Consumer Action, and Electronic Privacy Information Center filed Reply Comments urging the Federal Communications Commission to strengthen its rules to require blocking scam calls and texts, prohibit foreign calls that spoof U.S. phone numbers, and to improve rules under the Telephone Consumer Protection Act to make it easier for consumers to…
Read More about Reply Comments Urging FCC to Strengthen Rules Blocking Scam Calls and Texts
Heirs property owners are at an elevated risk of losing their home to property tax foreclosure. These owners of inherited homes are disproportionately likely to be older adults living and people of color. Targeted policy solutions can make a significant difference in reducing the rate of property tax foreclosure on heirs property, preventing housing instability…
Read More about Local Solutions to Protect Heirs Property Owners from Property Tax Foreclosure
