Amici submit this brief to provide the Court with factual evidence concerning the similarities in product design, function, and consumer harms between Empower Finance, Inc.’s “Cash Advance” often marketed as “Earned Wage Access” and traditional payday loans. These products function as loans—app-based payday loans. Payday Loan Apps (“PLA”) operate as a financial technology iteration of…
The Leadership Conference on Civil and Human Rights, a coalition of more than 240 national civil and human rights advocacy organizations, and the undersigned civil rights and civil society organizations write to you regarding the need for civil rights protections to be the foundation of any comprehensive artificial intelligence (AI) legislation. Specifically, we urge the…
Read More about Civil Rights Letter to the House Democratic AI Commission
This letter explains why Sen. Gebhard should support SB 1402, the companion bill to HB 2120, which will ensure that homeowners are protected from abusive features of shared equity agreements (also known as home equity investment loans).
The proposal affects over $1 trillion in annual Federal grants and cooperative agreements across 41 agencies. All of these grants would now be subject to review for conformity with the president’s political agenda, regardless of the Congressional intent in appropriating the funds or the language of the enabling statute. Despite the predictable impact on governments…
This Issue Brief discusses the top ten reasons why efforts to shut immigrants out of bank accounts and access to credit is a bad idea, including:
A promised negotiated rulemaking provides an important opportunity to restore important protections for people with federal student loans. Although the SAVE Plan (Saving on a Valuable Education) is ending, the Department of Education should consider restoring regulatory provisions that apply to all IDR plans that could dramatically improve repayment options for borrowers. Background In 2023,…
Eliminating custodial bench warrants for infractions will help end an unnecessary pipeline to incarceration that makes it harder for people to pay their debt, support their families, and achieve financial stability.
NCLC is among 226 labor, consumer, civil rights, and community organizations that sent a letter opposing H.R. 9330, the misnamed Earned Wage Access Consumer Protection Act, which exempts earned wage payday loans from the Truth in Lending Act (TILA), the Military Lending Act, the Equal Credit Opportunity Act, and other federal laws. The bill preempts…
The undersigned 38 consumer and advocacy groups expressed opposition to H.R. 5775, the FCRA Liability Harmonization Act (Loudermilk) and H.R. 8141, the Fair Credit Reporting Reseller Accuracy Act (Lawler). In short: H.R. 5775, the FCRA Liability Harmonization Act, would dramatically reduce accountabilityfor credit bureaus and other companies, including when they wrongfully label innocentconsumers as bad…
H.R. 5402, the Credit Access and Inclusion Act, is touted as helping consumers build credit by including rent and utility payment history, but in reality it preempts state and other federal laws that give consumers control over their personal information and harms consumers struggling to afford high utility bills or obtain affordable rental housing. The undersigned…
Read More about Letter to the House in Opposition to the Credit Access and Inclusion Act
NCLC submitted comments to the U.S. Department of Education recommending changes to its proposed new application form for federal student loan Income-Driven Repayment (IDR) plans. Our comments identify incorrect information on the form about plan eligibility requirements and recommend changes to ensure that the IDR Request Forms – and perhaps more importantly, the systems for…
This letter opposes the SHARE Act, which would provide a complete shield from tax liability for profits from HEI loans when made to LMI borrowers and when they meet other requirements.
