The Bureau’s proposal almost completely abandons the Annual Percentage Rate disclosure. Rather than emphasizing the APR or proposing a substitute, the new forms emphasize the initial interest rate and monthly payment−information that can easily be manipulated by disreputable creditors and that does not accurately disclose the cost of credit. In doing so the CFPB is,…
This report examines the impacts of extreme heat on utility consumers and recommends immediate actions policymakers and regulators must take to safeguard utility services for under-resourced consumers facing extreme weather.
The letter expresses support for the GSE pilots on alternatives to title insurance for mortgage refinancings, while also expressing concerns about the risks to consumers of broadening such pilots and the need for data collection and monitoring. The letter also focuses on reverse competition in the title insurance market and the need to have lenders…
Read More about Coalition Letter to Federal Housing Finance Agency on Title Insurance Waiver Pilots
NCLC submitted comments to the FHFA regarding ways to strengthen the GSEs Equitable Housing Finance Plans to focus on equity, transparency and accountability.
Read More about Comments to FHFA on the GSEs Equitable Housing Finance Plans
On June 11, 2024, the Consumer Financial Protection Bureau (CFPB) issued its landmark proposal to prohibit medical debt on credit reports. It’s a terrific development worth taking a moment to celebrate. But the CFPB needs our support for the proposed rule to get it over the finish line. At the same time, state legislation is…
Read More about Take Action to Support the CFPB's Medical Debt Credit Reporting Proposal
Civil rights groups signed on to this letter to the House Energy and Commerce Committee urging them to postpone the mark up on the American Privacy Rights Act (APRA) until the civil rights protections and algorithmic auditing provisions are added back in.
This letter raises three concerns with the bill titled the American Privacy Rights Act (APRA). APRA includes some good protections to protect consumer privacy, such as a requirement that covered entities provide access to the data they have on consumers, correct errors, minimize the data they collect, and allow consumers to delete their data. However,…
Read More about Letter Raising Concerns Regarding the American Privacy Rights Act
The National Consumer Law Center signed on to a Coalition Letter to protect and strengthen diversity, equity, inclusion and accessibility for government entities and private employers.
A coalition of civil rights organizations urges the Federal Communications Commission to follow Congress’ mandate in the Martha Wright Reed Just and Reasonable Communications Act to provide capped, lower communications rates. The civil rights organizations further urge the Commission to adopt meaningful consumer protection and billing transparency policies and finish the reforms needed to fully…
Read More about Civil Rights Letter to the FCC in Support of Lower Prison Communication Rates
NCLC and CRL submitted a Statement for the Record in response to the House Veterans Affairs Committee hearing on pending legislation.
The National Consumer Law Center (NCLC) submitted these comments on behalf of its low-income clients and on behalf of the National Association of Consumer Advocates. NCLC believes that the existing model for servicer compensation is broken. Current servicer compensation is byzantine. The barriers to entry are high. And servicers are rewarded for bad behavior: servicers…
The letter urges the CFPB to issue a final rule on PACE. More than a year has passed since the CFPB issued a strong proposed rule that would ensure PACE borrowers receive important consumer protections under Regulation Z.
