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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NCLC joined a letter from other advocates opposing unprecedented and inappropriate use of the Congressional Review Act to attempt to repeal waivers, orders and other actions that do not fit the CRA guidelines.
Read More about Letter Opposing Inappropriate Use of Congressional Review Act
Consumers need clarity about the application of the EFTA and Regulation E to emerging payment mechanisms. More specifically, consumers utilizing crypto-assets as payments and holding funds in accounts through gaming platforms, credit card rewards, and similar devices need the protection of the EFTA— its error resolution procedures, limits on consumer liability for unauthorized EFTs, and…
NCLC opposes Maryland HB 1294 (Wilson), which authorizes high fees and exempts earned wage advances and other new forms of payday loans from Maryland’s 33% APR interest rate limit.
Read More about Testimony Opposing Maryland HB 1294 Earned Wage Access
Re: Oppose S.J. Res. 18 (Scott), CRA Resolution to Overturn CFPB Rule on Overdraft Lending: Very Large Financial Institutions Dear Representative, The undersigned 295 consumer, civil rights, labor, legal services and community organizations and academics write to urge you to oppose S.J. Res. 18 to overturn the Consumer Financial Protection Bureau’s overdraft fee rule, which…
Read More about 295 Groups Oppose Overturning Overdraft Fee Rule
This brief disaggregates arrearage data by customer class, looking at the discount rate and standard rate customers separately.
Read More about Massachusetts Discount Rate Customers Falling Farther Behind on Utility Bills
