Resources Archive

Group Comments to National Council for State Authorization Reciprocity Agreements

April 28, 2020

Our organizations have a shared goal of ensuring that higher education students are protected from predatory schools and have access to high quality education that does not leave them with unmanageable debt, no matter whether they enroll in brick-and-mortar programs or in online education. As colleges across the country transition to remote learning, the role…

Statement Before U.S. House Committee on Financial Services on the End of Overdraft Fees

March 31, 2022

Statement for the Record of National Consumer Law Center (on behalf of its low-income clients)for hearing on The End of Overdraft Fees? Examining the Movement to Eliminate the Fees Costing Consumers Billions before the Subcommittee on Consumer Protection and Financial Institutionsof the U.S. House of Representatives Committee on Financial Services

Group Letter Supporting HR 4277, the Overdraft Protection Act of 2021

March 30, 2022

The 66 undersigned organizations urge the members of this committee to support Rep. CarolynMaloney’s Overdraft Protection Act of 2021. Overdraft-related fees cost consumers $15 billion each year. By far, the most expensive way tohave an overdraft covered is through an overdraft coverage fee. Financial institutions could offerand encourage their customers to choose lower cost overdraft…

Protecting Credit Reports During the COVID-19 Crisis

April 21, 2020

The COVID-19 pandemic has devastated our economy, leaving over 26 million consumers unemployed (as of late April 2020) and forcing countless small businesses to close. This economic catastrophe will also lead to damaged credit reports and plunging credit scores for tens of millions of consumers. Lower credit scores will not only impede consumers’ ability to…

Credit Reports and the COVID-19 Crisis: What States Should Do to Help Consumers

March 24, 2020

The COVID-19 crisis will damage the credit reports of tens of millions of consumers, who will see their scores nosedive because of mass unemployment and loss of income. Lower credit scores will impede consumers’ ability to get affordable credit, jobs, housing, and to generally recover when this crisis is over. Yet the response to this…

Summary of Foreclosure Alternatives for Borrowers with COVID-19 Hardships

November 18, 2021

This chart provides a summary of relief options available for borrowers facing a COVID-19 related hardships. The options that they can access depend on the loan investor. In addition to the forbearance protections provided by the (CARES) Act, Fannie Mae, Freddie Mac, FHA, VA, and USDA borrowers all have access to expanded options provided by…

Skyrocketing Utility Arrears during the Covid-19 Crisis: The Need for Substantial Federal Support

April 7, 2020

Residential utility customer arrearages will likely skyrocket amidst plummeting income and employment loss during the Covid-19 crisis. How big will the problem be? The answer depends on just how many customers will be unable to keep up with payments in the weeks to come. The tables that follow depict disparate home electricity burdens and expenditures,…

Federal, State, and Private Protections for Older Consumers Impacted by the COVID-19 Pandemic

April 21, 2020

Older adults and those with underlying health issues are most at risk of contracting COVID-19. Many will incur significant expenses related to sheltering in place or taking other measures to protect their health. Older adults with fixed or limited incomes, and those with few resources, may face foreclosure, eviction, and other financial challenges in the…

Coronavirus Emergency: Mortgage Relief for Consumers - How States Can Help

October 13, 2020

The federal CARES Act provided much-needed relief for certain borrowers who could not make their monthly mortgage payments. The Act allowed borrowers who were experiencing a financial hardship due to COVID–19 to pause mortgage payments for up to 12 months. These forbearance plans however only covered federally backed mortgages (Fannie Mae, Freddie Mac, FHA, USDA,…

Coronavirus Emergency: What Borrowers Need to Know about Student Loan Relief

April 22, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act (effective March 27, 2020) addresses urgent public health and economic needs in the face of the COVID-19 crisis. STUDENT LOAN RELIEF UNDER THE CARES ACT: Provides some relief but only for Direct Loan and Federal Family Education Loans (FFEL) currently owned by the U.S. Department…

What Consumers Need to Know About Covid-19 Mortgage Relief

April 21, 2020

Federal and states government have announced measures to assist millions of Americans facing an inability to make their monthly mortgage payments due to the COVID-19 emergency. You should pay your mortgage if you can afford it. If you cannot make a mortgage payment, relief may be available. Under federal law, a servicer cannot start the…

The Need for Utility Reporting of Key Credit and Collections Data Now and After the Covid-19 Crisis

April 8, 2020

The challenges posed by the Covid-19 crisis have heightened the importance of sustained, affordable access to essential home energy service for all households across the nation. Yet, there is currently only limited capacity in the U.S. to gain a clear, data-driven understanding of the number of households that lose access to home energy services and…

All Resources

Group Comments to National Council for State Authorization Reciprocity Agreements

Statement Before U.S. House Committee on Financial Services on the End of Overdraft Fees

Group Letter Supporting HR 4277, the Overdraft Protection Act of 2021

Protecting Credit Reports During the COVID-19 Crisis

Credit Reports and the COVID-19 Crisis: What States Should Do to Help Consumers

Summary of Foreclosure Alternatives for Borrowers with COVID-19 Hardships

Skyrocketing Utility Arrears during the Covid-19 Crisis: The Need for Substantial Federal Support

Federal, State, and Private Protections for Older Consumers Impacted by the COVID-19 Pandemic

Coronavirus Emergency: Mortgage Relief for Consumers - How States Can Help

Coronavirus Emergency: What Borrowers Need to Know about Student Loan Relief

What Consumers Need to Know About Covid-19 Mortgage Relief

The Need for Utility Reporting of Key Credit and Collections Data Now and After the Covid-19 Crisis

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