Coalition Comments on CFPB's Proposed Rule Governing Overdraft Lending at Very Large Financial Institutions
The proposed rule would stop big banks from using junk overdraft fees to exploit families living paycheck to paycheck.
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Reimann et al v. Midland Funding, LLC et al
This class action complaint alleged claims under the State Rosenthal Act Fair Debt Collection suit against Midland and a law firm in California.The suit alleged that the defendants used false affidavits of personal knowledge in collection actions and that the law firm used automated procedures for sending dunning letters and filing lawsuits with little to no meaningful attorney input.
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Royal et al v. Judgment Acquisitions Unlimited et al
This class action complaint, filed in late 2023, seeks damages and injunctive relief against an attorney and a junk debt buyer and debt collector challenging their practices of misleadingly and inaccurately asserting amounts due in debt collection attempts to consumers and in small claims court, including collecting amounts that were not actually due.
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Testimony Before Maryland Senate on Amended HB 246: Earned Wage Access and Credit Modernization
NCLC submitted written testimony before the Maryland Senate Finance Committee on the amended version of HB 246 regarding earned wage access. The testmony noted that the bill, as amended, would strengthen Maryland law in some respects but weaken it in others. It is essential to retain language treating earned wage advances as loans and including…
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Consumer Group Comments Urging CFPB to Continue and Expand its Auto Data Collection Project
Consumer groups applaud the Consumer Financial Protection Bureau (CFPB) effort to improve the collection and dissemination of auto finance data as part of its efforts to monitor the auto finance market for risks to consumers. The CFPB should:
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Comments to VA Regarding Proposed Revisions to the VA-Guaranteed or Insured Interest Rate Reduction Refinancing Loans Program
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…
