FOR IMMEDIATE RELEASE: October 30, 2020 One-Third of U.S. Adults with a Credit Report Have Debt in Collection Washington, D.C. – The National Consumer Law Center, on behalf of its low income clients, Americans for Financial Reform Education Fund, Center for Responsible Lending, Consumer Federation of America, and the National Association of Consumer Advocates, expressed…
Read More about CFPB Debt Collection Rule a Mixed Bag for Consumers
FOR IMMEDIATE RELEASE: OCTOBER 29, 2020 Boston – As millions of families suffer job loss or struggle to pay bills during COVID-19, states have an important role in protecting them from seizure of essential wages and property to pay old debts. A new state survey from the National Consumer Law Center finds that not one jurisdiction’s laws…
Read More about Report: Which States Put Families at Risk of Poverty During the Covid Crisis?
FOR IMMEDIATE RELEASE: October 27, 2020 Rule that evades state interest rate laws will severely impact low-income and communities of color WASHINGTON, D.C. – The regulator of the nation’s largest banks has finalized a rule that allows predatory lenders to do an end-run around state interest rate caps, exposing people to loans in excess of…
Read More about New OCC Rule Protecting Predatory Lenders Could Face Legal Challenge
FOR IMMEDIATE RELEASE: September 29, 2020 Detroit – Today, the NAACP Legal Defense and Educational Fund, Inc. (LDF), the American Civil Liberties Union of Michigan (ACLU), the National Consumer Law Center (NCLC), and the Michigan Poverty Law Program filed a federal class action lawsuit against Vision Property Management (Vision). The lawsuit was filed on behalf…
FOR IMMEDIATE RELEASE: September 17, 2020 Boston – Today, Senators Schumer and Warren announced they are introducing a Resolution calling on the President of the United States to take executive action to broadly cancel up to $50,000 in federal student loan debt for 43 million Americans. The following is a statement by Persis Yu, National…
FOR IMMEDIATE RELEASE: September 8, 2020 National Consumer Law Center contacts: Jan Kruse ([email protected]) or Odette Williamson ([email protected]) National Consumer Law Center Advocates Urge HUD to Reverse Course and Restore Key Civil Rights Protections Washington, D.C. – In a continuing campaign to weaken civil rights protections, the U.S. Department of Housing and Urban Development (HUD)…
Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced yesterday that a fee from Fannie Mae and Freddie Mac, which FHFA previously approved and which makes refinancing more expensive for mortgages backed by those companies, will be delayed until December 1. FHFA also said the fee will not apply to refinance loans with balances…
FOR IMMEDIATE RELEASE: August 18, 2020 National Consumer Law Center Statement: Proposal May be Challenged Washington, D.C. – Today, the Consumer Financial Protection Bureau’(CFPB) announced a Notice of Proposed Rulemaking regarding the Dodd-Frank Act ability to repay and qualified mortgage rules. The following statement is by National Consumer Law Center Staff Attorney Alys Cohen: “The…
FOR IMMEDIATE RELEASE: JULY 28, 2020 Washington, D.C. – More than 50 consumer, civil rights, community, housing, and other public interest organizations sent a letter today to U.S. Senate leadership urging inclusion of mortgage and rental protections for families in the next COVID-19 legislation. In the letter, the groups, which include Americans for Financial Reform,…
FOR IMMEDIATE RELEASE: JULY 27, 2020 New Republican Stimulus Bill Fails 43 Million Student Loan Borrowers Statement of Persis Yu, director of NCLC’s Student Loan Borrowers Assistance Project, in response to the COVID-19 stimulus package proposed by Senate Republicans today. “As Senator Lamar Alexander (R-Tenn.) correctly stated this past week, “[i]n less than three months,…
FOR IMMEDIATE RELEASE: JULY 27, 2020 Washington, D.C. – Today, the National Consumer Law Center (NCLC) and 13 other organizations sent a comment letter to the Consumer Financial Protection Bureau (CFPB) urging it not to revamp the rules governing the residential mortgage market—a step that could destabilize the mortgage market in the middle of the…
FOR IMMEDIATE RELEASE: July 23, 2020 Fair housing advocates denounce Trump’s newest effort to eliminate a critical tool to desegregate communities and call on the president to instead concentrate on ensuring housing equity during a pandemic Washington, D.C.- Today, a coalition of civil rights, affordable housing and consumer advocacy organizations condemned the move by the…
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