Interest up to 189% may be disguised by interest-free promotions through EasyPay Finance and TAB Bank Before you agree to finance a costly car repair or tire purchase – or accept what appears to be a free 90-day payment plan – beware of fine print that could disguise costly loans at rates up to 189%…
Read More about Consumer Alert: Deceptive Auto Repair Financing Practices
These comments will focus on the Plans’ activities and objectives, which aim to improve the manufactured housing marketplace. However, the three markets addressed in the Plans overlap considerably, and manufactured housing cannot be addressed in a vacuum. We strongly encourage the Enterprises and the FHFA to encourage innovations that can impact multiple markets. For example,…
The manufactured housing finance market has traditionally been, and remains, underserved. The lack of affordable and safe financing options has not only made it more difficult and expensive for those purchasing a manufactured home, but also reduced the value of existing homes. This is of particular concern as manufactured housing is the largest source of…
Read More about Comments to the FHFA on the Duty to Serve Underserved Markets for Enterprises
The National Consumer Law Center (NCLC) and Manufactured Home Owners Association of America (MHOAA) submit these comments in response to the Federal Housing Finance Agency’s (FHFA) proposed rule regarding the Government Sponsored Enterprises’ (“Enterprises”) duty to serve the manufactured housing market. We commend the FHFA for recognizing the importance of the manufactured housing market. The…
Much attention is now being paid to the expanded use of forced arbitration clauses in employment and consumer contracts, the attendant harms to consumers and employees, and the possibility of federal intervention. Recent media attention has highlighted the harms that arbitration inflicts on Americans every single day. And a flurry of federal activity (both congressional…
Read More about The Model State Consumer & Employee Justice Enforcement Act
Tax-time is a critical moment for millions of Americans, providing much-needed funds in the form of billions in refunds. In particular, the Earned Income Tax Credit (EITC) helps 27 million families and is the largest anti-poverty program in the country. This year, these EITC recipients and many other taxpayers face new and old challenges in…
Refund anticipation loans (RALs) are usurious short-term loans secured by the taxpayer’s expected tax refund. About 12 million taxpayers took out RALs in 2004, costing them over $1 billion dollars in loan fees. This report documents a new form of RALs called “pay stub” and “holiday RALs.” Pay stub RALs are RALs made by tax…
Read More about Pay Stub and Holiday RALs: Faster, Costlier, Riskier in the Race to the Bottom
Why is it important to correct errors in my credit report? What can I do if there is an error in my credit report? These questions and more are answered in NCLC’s Facts for Older Consumers: Disputing Errors in a Credit Report.
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