Author-Community Archives

Advocates Condemn Rent-a-Bank Rule that Encourages Predatory High-Cost Loans; Call on Congress to Pass Federal 36% Interest Rate Cap Limit

May 29, 2020

FOR IMMEDIATE RELEASE: MAY 29, 2020 Media Contacts: National Consumer Law Center: Jan Kruse ([email protected]) Center for Responsible Lending: Matthew Kravitz ([email protected]) Americans for Financial Reform Education Fund: Carter Dougherty ([email protected]) Washington, D.C. – Consumer advocates slammed the Office of the Comptroller of the Currency (OCC) for its final rule issued today that encourages online…

Consumer, Banking Groups Applaud Bill to Exempt Economic Impact Payments from Garnishment

May 26, 2020

WASHINGTON, D.C. — Consumer groups and banking industry organizations joined together today to support bipartisan legislation that would prevent Economic Impact Payments from being subject to garnishment. The following statement was issued today by the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, The Clearing House, National Consumer Law Center (on behalf of its low income…

Advocates Urge President Trump to Join Congress in Restoring Rule to Protect Student Loan Borrowers from School Fraud and Closures

May 20, 2020

FOR IMMEDIATE RELEASE: May 20, 2020 National Consumer Law Center contacts: Jan Kruse ([email protected]) or Abby Shafroth ([email protected]) Boston – National Consumer Law Center advocates urge President Trump to join with Congress in protecting student loan borrowers hurt by school fraud and closures by signing into law the bipartisan joint resolution preserving existing borrower defense…

U.S. Dept. of Education and Secretary DeVos Sued for Illegally Seizing Student Borrowers’ Paychecks During Coronavirus Emergency

May 1, 2020

WASHINGTON – Student Defense and the National Consumer Law Center (NCLC), with the support of the Student Borrower Protection Center (SBPC), filed a class action lawsuit against the U.S. Department of Education and Secretary Betsy DeVos, demanding an immediate halt to the Department’s illegal garnishment of student borrowers’ wages. The Coronavirus Aid, Relief, and Economic…

Consumer, Banking Groups to Congress: Exempt Economic Impact Payments From Garnishment

April 21, 2020

FOR IMMEDIATE RELEASE: April 21, 2020 National Consumer Law Center contact: Jan Kruse ([email protected]) Washington, D.C. — In a letter to congressional leadership today, consumer and banking industry organizations joined together to urge lawmakers to clarify at the earliest possible opportunity that economic impact payments issued by the federal government in response to the coronavirus pandemic…

Civil Rights, Consumer, Housing, and Real Estate Groups Urge U.S Treasury and Federal Regulators to Help Mortgage Servicers Maintain Liquidity

April 17, 2020

Washington, D.C. – Today, advocates of 31consumer, civil rights, housing, and real estate trade organizations, including the Leadership Conference on Civil and Human Rights, National Consumer Law Center, Consumer Federation of America, National Community Stabilization Trust, National Fair Housing Alliance, Center for Responsible Lending, National Association of Real Estate Brokers, National Association of Hispanic Real…

COVID-19 Crisis: Advocates Urge FHFA to Help Ensure Fair Treatment for All Borrowers, Especially Limited English Proficient Borrowers

April 9, 2020

Washington, D.C. – The National Consumer Law Center, Americans for Financial Reform Education Fund, the National Fair Housing Alliance and 33 other consumer, civil rights, and housing counseling groups sent a letter today calling on the Federal Housing Finance Authority (FHFA) to step up its efforts to translate key mortgage notices needed by borrowers hit…

Civil Rights and Consumer Groups Condemn “Emergency” Regulatory Guidance that Allows Banks to Make Payday Loans

March 26, 2020

Banks should not embrace this terrible idea, especially as they are borrowing for free Washington, D.C. – Today, under the cover of a national crisis, the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), Federal Reserve Board (FRB), and the National Credit Union Administration issued…

New CFPB Advisory Opinion Program Would Give Lenders a Safe Harbor for Violating Federal Consumer Laws

March 6, 2020

Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced plans to create an advisory opinion program which, if enacted, would circumvent the public notice-and-comment process, a pillar of our government and democracy. The intent of the advisory opinion program, according to the CFPB, would be to provide clear guidance to assist companies in better…

Telecom Carrier and Consumer Groups Stress Critical Need to Maintain Landmark Consumer Privacy Law to Protect Integrity of Communications System and Curb Robocalls in U.S. Supreme Court Case

March 3, 2020

Washington, D.C. – The National Consumer Law Center, the Consumer Federation of America and Verizon filed a joint amicus brief in Barr v American Association of Political Consultants, a case before the U.S. Supreme Court in which a group of robocallers is challenging the constitutionality of a provision of the Telephone Consumer Protection Act (TCPA),…

West Virginia to Adopt Used Car Donor Tax Credit Program, Incentivizing Donation of Reliable and Affordable Vehicles

March 2, 2020

FOR IMMEDIATE RELEASE: March 2, 2020 Good News Mountaineer Garage contact: Ron Wiles ([email protected]) or (304) 680-7140; National Consumer Law Center contacts: Margot Saunders ([email protected]), Stephen Rouzer ([email protected]) or (202) 595-7847 This afternoon, the West Virginia state senate unanimously approved HB 4969, Creating a Used Car Donor Tax Credit Program to incentivize the donation and…

CFPB Fails to Protect Consumers from Abusive Collection of Time-Barred Debts (Again)

February 24, 2020

Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) released a proposed debt collection rule late last Friday to supplement the proposed debt collection rule it released in May. The supplemental rule states that debt collectors must provide consumers with specific disclosures when collecting debt that is beyond the statute of limitations (time-barred debt). “Unfortunately,…

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