Consumers Union, the National Consumer Law Center (on behalf of its low income clients), and Professor Mark E. Budnitz, Professor of Law Emeritus, Georgia State University School of Law, appreciate this opportunity to comment on the Conference of State Bank Supervisors’ draft model regulatory framework (“the framework”) for state virtual currency regulatory regimes. The framework…
The National Consumer Law Center®, on behalf of its low income clients, Center for Responsible Lending, Empire Justice Center and U.S. Public Interest Research Group appreciate the opportunity to submit these comments in response to the Office of the Comptroller of the Currency’s request for comments on how to support responsible financial innovation. Our comments…
The National Consumer Law Center (on behalf of its low-income clients) and Consumer Federation of America, Consumers Union, Main Street Alliance, and U.S. PIRG thank you for the opportunity to comment on the Office of the Comptroller of the Currency’s (OCC’s) white paper on Exploring Special Purpose National Bank Charters for Fintech Companies. We appreciate…
Key Points In 2015, more employees are expected to receive wages on payroll cards than by paycheck. By 2019, an estimated 12.2 million workers will receive their wages via payroll cards, compared to only 2.2 million who will get paper paychecks, according to Aite Group. With this fast-growing trend, states can be leaders in setting…
Center for American Progress, National Consumer Law Center and American Council for an Energy-Efficient Economy submitted a letter providing recommendations for the implementation of the rebate programs, focusing on equitable deployment and ensuring protections for low-income households. The four overarching recommendations are: The Department must make the rebate programs clear and accessible to maximize uptake from…
The undersigned consumer, community, civil rights and legal services groups submit these comments in response to the Consumer Financial Protection Bureau (“CFPB”)’s Request for Information (“RFI”) regarding its inherited regulations and rulemaking authorities. These comments focus on electronic communications generally, including electronic disclosures, statements and records. Many of our organizations have also joined other comments…
This letter, which is submitted on behalf of the National Consumer Law Center’s low income clients, makes several overarching points and refers lawmakers to a number of materials on “fintech” topics for more detail. Financial products and services are developing and changing rapidly as a result of a number of factors, including the spread and…
For three centuries or more, the common law has prohibited contract provisions that impose a penalty greater than the amount of damages caused by a breach of the contract. When those damages are difficult to determine, the common law permits “liquidated damages” provisions that are reasonably related to the actual damages sustained by the party.…
Credit reports and scores, tenant and employment screening reports, and other background checks all impact fundamental necessities in a consumer’s life: the ability to rent an apartment or buy a home, obtain insurance, find a job, open or keep a bank account, and obtain fairly priced credit. Yet each one of these categories of “consumer…
Read More about 2024 Credit & Consumer Reporting Priorities to Promote Economic Stability
On behalf of the clients, communities, companies, and veterans we represent, we urge the VAto prioritize allocating and seeking the budgetary resources necessary to expand the lossmitigation options available under the VA Home Loan Guaranty Program to help veteranborrowers avoid foreclosure. We believe your agency’s current loss mitigation tools andresources are insufficient to meet the…
