FOR IMMEDIATE RELEASE: JULY 1, 2019 National Consumer Law Center Files FOIA to Find out on 25th Anniversary of Borrowers Participating in Income-Driven Repayment Plans Download NCLC’s FOIA request at: http://bit.ly/foia-ann Boston — On July 1, 1994, the U.S. Education Department launched its first Income-Driven Repayment Plan, designed to allow student loan borrowers to keep…
FOR IMMEDIATE RELEASE: JUNE 10, 2019 Joanna K. Darcus’s full testimony will be available by 10am ET on June 11 at: http://bit.ly/nclc-test-loan-serv Washington, D.C.- National Consumer Law Center attorney Joanna K. Darcus will testify on Tuesday, June 11 at 10am E.T. before the U.S. House Financial Services Committee’s Oversight and Investigations Subcommittee at a hearing…
FOR IMMEDIATE RELEASE: May 17, 2019 CFPB is required to consider comments on its plan, which would eliminate protections from 300% APR payday loan debt traps House Oversight and Reform subcommittee hearing held on the proposal WASHINGTON, D.C. – The National Consumer Law Center (NCLC), as part of a coalition of civil rights, consumer, and…
Read More about Broad Coalition Rebukes Trump-appointed CFPB Director’s Plan to Gut Payday Loan Rule
FOR IMMEDIATE RELEASE: May 7, 2019 Consumer Watchdog’s Proposed Debt Collection Rule Bites Consumers: Authorizes Harassment by Debt Collectors Washington – The Consumer Financial Protection Bureau (CFPB) released a proposed debt collection rule today which provides numerous gifts to debt collectors with limited new protections for consumers. “We are horrified that the CFPB’s proposed rule will actually…
Advocates Applaud CFPB for Suing Firms Accused of Illegally Taking Upfront Fees for Credit Repair Services WASHINGTON– Advocates at the National Consumer Law Center applaud the Consumer Financial Protection Bureau’s (CFPB) legal action against Lexington Law and several internet-based marketers (PGX Holdings Inc. and subsidiaries Progrexion Marketing Inc., Progrexion Teleservices Inc., eFolks LLC, and CreditRepair.com…
Download issue briefs summarizing protections for prepaid cards and accounts, payroll cards, and government benefit prepaid cards at https://www.nclc.org/issues/prepaid-debit-cards.html. (WASHINGTON) A new rule issued by the Consumer Financial Protection Bureau (CFPB) goes into effect April 1 providing protections for prepaid cards, payroll cards, government benefit cards, and certain mobile and online person-to-person payment services. “Consumers…
FOR IMMEDIATE RELEASE: March 4, 2019 Consumer Advocates Urge Strong Consumer Protections for Borrowers of Property Assessed Clean Energy (PACE) Loans WASHINGTON– Today, advocates at the National Consumer Law Center applauded the Consumer Financial Protection Bureau (CFPB) for taking its first step in initiating a rulemaking to curtail consumer abuses in the PACE loan program and…
Read More about Advocates Applaud CFPB’s Intention to Deal with PACE Loan Program Abuses
FOR IMMEDIATE RELEASE: February 25, 2019 National Consumer Law Center Attorney Chi Chi Wu to Testify on February 26 at U.S. House Hearing: Holding Credit Bureaus Accountable and Repairing a Broken System Download the report at: https://bit.ly/ajustre Wu’s testimony will be available to download on or before Feb. 26 at 8am ET at: http://bit.ly/fcr-score Boston…
FOR IMMEDIATE RELEASE: February 12, 2019 A group of 80 consumer, civil rights, legal services, labor, environmental, and community groups today expressed their strong opposition to the proposed changes to the Consumer Financial Protection Bureau’s no-action letter policy and its proposed product sandbox. A copy of the coalition letter can be found here. Several national…
FOR IMMEDIATE RELEASE: February 6, 2019 New Rule Proposal, If Finalized, Will Likely Face a Legal Challenge WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) under the leadership of new director Kathy Kraninger has proposed to largely repeal a common-sense rule that was scheduled to go into effect later this year that would…
Read More about Consumer Financial Protection Bureau Guts Rule to Rein in High-Cost Short-Term Loans
Click here for the updated (Nov. 2021) version of the Ounce of Prevention report. The National Consumer Law Center Provides a Blueprint for States to Adopt Boston – With more than 27 million Americans lacking health insurance and almost 50% of nonelderly adults with inadequate insurance that includes high deductibles and significant out-of-pocket costs, an…
WASHINGTON – Year after year, one of the top consumer complaints to the Federal Trade Commission (FTC) is problems with debt collection. Complaints are skyrocketing: from 13,950 in 2000 to 199,721 in 2012 – more than a 900% increase in just over a decade. In January 2014 alone, consumers registered about 3000 complaints regarding debt…
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