Resources Archive

Comments to VA Regarding Proposed Revisions to the VA-Guaranteed or Insured Interest Rate Reduction Refinancing Loans Program

January 3, 2023

NCLC and CRL support the proposed rule but have a number of recommendations, including adding protections to protect distressed borrowers and prevent the misuse of escrow account refunds; removing repayment-plan payments from the definition of “monthly payment” used for the seasoning rule; and working with Congress to determine whether statutory changes are necessary to prevent…

Testimony in Support of DC B25-0609 Protecting Affordable Loans Amendment Act

March 13, 2024

We are supporting District of Columbia bill B25-0609 Protecting Affordable Loans Amendment Act of 2023, which opts DC out of federal law that allows out-of-state, state-chartered banks to export their home state interest rate limits into DC.

Comments on CFPB Proposed Rule on NSF Fees

March 25, 2024

NCLC joined comments with other consumer advocates supporting a proposed rule by the CFPB that prohibits nonsufficient funds (NSF) fees on transactions that are instantaneously declined. We also supported the CFPB’s clarification of the standard for evaluating the prohibition on abusive conduct.

Testimony in Support of Rhode Island H 7941 Opting Out of DIDCMA

March 25, 2024

NCLC submitted testimony supporting Rhode Island H 7941, which exercises the state’s right under the Depository Institutions Deregulation and Monetary Control Act of 1980 to opt out of interest rate exportation by state-chartered banks. The bill will restore Rhode Island’s ability to apply its usury laws to prevent predatory rent-a-bank lending.

NCLC and CRL Proposal for FHA Loss Mitigation

March 27, 2024

In this letter, NCLC and CRL propose how FHA should shape its system for helping borrowers avoid foreclosure.

Testimony in Support of MD SB1, Augustine (as amended in the Senate EEE)—Electricity and Gas—Retail Supply—Regulation and Consumer Protections

March 26, 2024

This is testimony in support of MD SB1, a bill to protect consumers from unfair, predatory retail energy supply contracts. The bill caps the price of the service offerings to the regulated utilities standard offer rates, it imposes strong restrictions on variable rates and would allow consumers to lock their accounts to avoid slamming. The…

Ex Parte to Wireline Bureau on Numbering Policies

March 25, 2024

Callers rotating through numbers circumvent the goals of the TRACED Act as well as the efforts of the FCC and providers to block illegal calls. While existing regulations prohibit this misconduct, the FCC should use TRACED Act authority to issue a new rule that unequivocally prohibits number rotation for outbound calls.

IRA Home Energy Rebates - State Program Design Recommendations: A Resource for Advocates

March 26, 2024

This IRA Home Energy Rebates Resource for Advocates outlines issue areas that advocates for low-income consumers and tenants should prioritize when providing stakeholder input into the state rebate plans.

Consumer Group Comments in Support of Clarifying That a Private Right of Action Exists When Telemarketers Fail to Provide Correct Caller ID

March 22, 2024

The FCC promulgated the requirement in 47 CFR 64.1601(e) that telemarketers must provide a caller ID pursuant to its authority to issue regulations for the Do Not Call Registry, meaning that a telemarketer's failure to provide the correct caller ID leads to the damages under the TCPA.

Testimony in Opposition to H4456: An Act Relative to Financial Technology Services

March 22, 2024

H4456 declares that fintech payday loans are not loans and their costs are not interest subject to Massachusetts’ protections against predatory lending. Currently in Massachusetts, loans under $6,000 are limited to “23% per annum of the unpaid balances of the amount financed calculated according to the actuarial method plus an administrative fee of $20.” H4456…

Public Knowledge Sign-on Letter Re: Inclusion of Affordable Connectivity Program in Any Spectrum Auction Authority Legislation

March 21, 2024

NCLC signed-on to the Public Knowledge letter on the inclusion of Affordable Connectivity Program (ACP) funding in any spectrum auction authority legislation.

Myths and Facts About Improving Credit Repair State Laws

March 14, 2024

Credit repair organizations (CROs) claim they can help improve consumers’ credit records, but they rarely deliver. And they can charge consumers hundreds of dollars per month, sometimes for years. States are trying to strengthen protections, but credit repair industry has predictably responded with myths about why stronger protections are not needed.

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