Resources Archive

Comments to Treasury on Ensuring Responsible Development of Digital Assets

August 5, 2022

This request for comments covers two different sets of digital assets: cryptocurrencies, including stablecoins, and central bank digital currencies. We see little to no legitimate use for cryptocurrencies and few, if any, potential benefits that are not heavily outweighed by the high degree of risk, harm, and evasion of consumer protection laws.

Coronavirus Emergency: Consumer Debt Collection Lawsuits - How States Can Help

March 18, 2020

Lawsuits are a common method used to collect alleged consumer debts, and these lawsuitsmake up a large percentage of the civil court docket around the country. Court traffic creates asubstantial risk of spreading the virus to litigants, attorneys, court personnel, and the public.

Recommendations to Improve Servicing and Reduce Foreclosures of Federal Reverse Mortgages

Reverse mortgages are intended to help older Americans age in their homes. Yet, across thecountry, reverse mortgage borrowers and their spouses are losing their homes because theU.S. Department of Housing and Urban Development (HUD) has not acted to preventunnecessary foreclosures. HUD should take immediate action to expand home retentionoptions for reverse mortgage borrowers who fall…

Covid-19 Pandemic Requires Federal, State and Municipal Action to Stop Involuntary Utility, Water, and Telecommunications Shut-offs

March 11, 2020

Action Is Needed to Ensure Access to Essential Utility Services for All Persons, Regardless of Ability to Pay, During the Public Health Emergency.

Prepaid Electric Utility Service: Assessment of Risks and Benefits to Low-income Consumers in District of Columbia

Traditionally in the United States, electric and natural gas utility service has been billed on a post-paid basis where a utility company tracks a customer‘s usage during the previous monthly or quarterly period and then mails a bill to the customer based on that usage. The customer is then required to make payment within a…

Congress Must Provide Relief to Defaulted Student Loan Borrowers

March 17, 2020

Currently 44 million student loan borrowers owe $1.6 trillion of student loan debt. Over a million federal Direct Loan borrowers entered default in a 12-month period alone. Borrowers in default are disproportionately low-income and people of color. These are the borrowers currently experiencing the brunt of America’s student loan crisis. They are the borrowers most…

Voices of Despair: Student Borrowers Trapped in Poverty When the Government Seizes Their Earned Income Tax Credit (2018)

March 13, 2018

The U.S. Treasury is seizing Earned Income Tax Credit (EITC) refund checks from the working poor to repay student loans that are in default, and the consequences on working families are devastating. The government’s policy of seizing federal student loan borrowers’ EITC runs counter to almost everygoal Congress set for the EITC1 and its student…

Voices of Despair: How Seizing the EITC is Leaving Student Loan Borrowers Homeless and Hopeless During a Pandemic

November 10, 2020

Year after year, the federal government seizes Earned Income Tax Credit (EITC) refund checks from the working poor to repay federal student loans that are in default, and the consequences for working families are devastating. Even this year, during a global pandemic and in the midst of record unemployment, the U.S. Department of Education has…

Group Letter to CFPB Regarding Fintech Credit Products

December 21, 2021

The undersigned 79 consumer, housing, civil rights, legal services, faith, community, small business, and financial organizations groups would like to thank you for your recent inquiry into buy now, pay later providers, and write to urge you to carefully examine these and other fintech credit products and fee models. New consumer credit products are exploding…

Written Testimony for House Financial Services on Digital Wallets

April 28, 2022

Advocates draw attention to concerns about digital wallets (PayPal/Venmo) and similar person-to-person (P2P) services (Zelle), which is used between bank accounts.

After Payday Loans: Consumers Find Better Ways to Cope with Financial Challenges

March 1, 2022

Payday lenders and high-cost installment lenders offer fast cash loans that do far more harm than good, adding to rather than alleviating financial distress. As a growing number of states have curtailed high-cost lending, experience shows that people are better off and find better options. The American public, on a bipartisan basis, strongly supports capping…

Comments to the White House on Equitable Data Engagement and Accountability

October 3, 2022

Group comments to the White House re: Docket No. 2022-19007 Request for Information; Equitable Data Engagement and Accountability.

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