Nearly One-Third of U.S. Adults with a Credit Report Have Debt in Collection WASHINGTON, D.C. – On Friday, July 30th, the Consumer Financial Protection Bureau (CFPB) announced that it would not delay the effective date of its debt collection regulations as it had originally proposed this spring. Instead, the CFPB will be moving forward with…
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FOR IMMEDIATE RELEASE: July 29, 2021 Washington, D.C. – Attorneys at the National Consumer Law Center praised the introduction yesterday of the Veterans and Consumers Fair Credit Act in the U.S. Senate, led by U.S. Senators Jack Reed (D-RI), Jeff Merkley (D-OR), Sherrod Brown (D-OH), and Chris Van Hollen (D-MD), along with seven other original…
FOR IMMEDIATE RELEASE: July 15, 2021 Washington, D.C. – Advocates at the National Consumer Law Center applauded bipartisan and bicameral legislation announced yesterday by U.S. Senator Kirsten Gillibrand (D-NY), Senator Lindsey Graham (R-SC) and Dick Durbin (D-IL), chair of the Senate Judiciary Committee, along with U.S. Representatives Cheri Bustos (D-IL), Morgan Griffith (R-VA) and Pramila…
Consumer advocates applaud the passage of LD 737, An Act To Increase the Value of Property Exempt from Attachment and Execution. The bill expands minimum protections of basic needs from garnishment by debt collectors. In addition to expanding protections for family homes and vehicles, the bill provides protection for up to $3,000 in consumers’ bank…
Inefficient Light Bulbs Already Sold in 2021 Will Needlessly Cost Consumers $1.8 Billion in Lost Utility Savings Washington, D.C. – Last week, the Consumer Federation of America (CFA), the National Consumer Law Center (NCLC), and 24 consumer groups from across the country urged U.S. Department of Energy (DOE) Secretary Granholm to implement the efficiency standard…
Washington, D.C. – Today, the Consumer Financial Protection Bureau (Bureau) released its final rule under the Real Estate Settlement Procedures Act (RESPA) related to helping homeowners impacted by the COVID-19 pandemic. The rule contains important consumer protections to help stave off unnecessary foreclosures, but the time period for the rule’s foreclosure protections should be extended…
OCC Rule Protects High-Cost Lenders that use Rent-a-Bank Schemes to Evade State Interest Rate Laws Washington, D.C. – Advocates at the National Consumer Law Center applaud the U.S. House vote to overturn the OCC’s “fake lender” rule, which allows predatory lenders to evade state interest rate laws by putting a federally-chartered bank’s name on the paperwork. The…
FOR IMMEDIATE RELEASE: JUNE 16, 202 Boston – Today, the U.S. Department of Education (Department) announced that it will discharge the federal student loans of 18,000 former for-profit ITT Tech students who applied for borrower defenses to repayment based on significant misrepresentations made by the now-shuttered school. The Department found that ITT engaged in widespread,…
Maryland Joins New York, Illinois, Connecticut, and Ohio to Rein in Abuses by Competitive Energy Supply Companies FOR IMMEDIATE RELEASE: June 7, 2021 Washington, D.C. – National Consumer Law Center advocates applauded Maryland’s General Assembly for passing the Energy Supply Reform Bill (SB31/HB397). The effort was led by Maryland’s Senator Mary L. Washington and Delegate…
For Immediate Release: May 27, 2021 NCLC’s Review of State Consumer Protection Laws for a $2,000 Two-Year Installment Loan and $500 Six-Month Loan View the full report, with maps for the District of Columbia and each state’s APRs for two types of installment loans, tables outlining changes since the 2020 report, and a complete list…
Today, the NAACP Legal Defense and Educational Fund, Inc. (LDF) and the National Consumer Law Center (NCLC) sent a joint letter to Michael Thurmond, Chief Executive Officer of DeKalb County, Georgia, in response to the County’s recent announcement that it will lift its water disconnection moratorium and resume disconnections on July 1, 2021. In the…
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