Written Testimony in Support of Connecticut HB 5127
This testimony supports Connecticut bill HB 5127, An Act Concerning Medical Credit Cards.
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Prescription for Relief: Strategies for Resolving Medical Debt and Medical Credit Card Risks
TIME: 2 – 4 PM EST This session provides an overview of how to assist clients with medical debt, including those with debt on medical credit cards and related financial products. Through real-world case studies, presenters share practical strategies including how to identify if people are eligible for financial assistance and help them apply, how…
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What States Can Do: Medical Credit Cards and Other Medical Lending Products
Medical bills often end up on credit cards, including medical credit cards and other medical lending products. These products are marketed specifically to pay for medical expenses and are typically offered directly by health care providers, particularly dentists. Patients used cards or loans with deferred interest terms to pay for almost $23 billion in healthcare…
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Selected Resources About Medical Lending Products
CFPB Resources: Community Catalyst Resources: NCLC Resources: Other Resources:
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NCLC Comments Supporting CFPB Proposal to Ban Medical Debt From Credit Reports
These are NCLC’s detailed comments supporting the CFPB’s Notice of Proposed Rulemaking to ban medical debt from credit reports. The comments discuss the research and evidence to support the proposed rule, including the fact that medical debt disproportionately affects communities of color as well as consumers with disabilities. The comments also analyze why the CFPB…
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American Banker: Was the CFPB really manipulating data about credit cards?
Appearing in American Banker on May 29, 2024, NCLC Senior Attorney Chi Chi Wu takes on an op-ed that accused the Consumer Financial Protection Bureau of “manipulating data.” To the Editor: In Kathy Kraninger’s op-ed “CFPB must stop manipulating data to support its policy preferences,” the agency’s former director accuses the Consumer Financial Protection Bureau of…
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Detroit Free Press: Much-talked-about $8 late fee on credit cards hits roadblock: What's ahead
Appearing in the Detroit Free Press on May 14, 2024, Susan Tompor interviews NCLC Senior Attorney Chi Chi Wu for coverage of a Texas judge’s preliminary injunction to halt the CFPB’s credit card late fees rule. “This is a mess that will be amplified by a thousandfold if the Supreme Court strikes down the CFPB…
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Synchrony's Planned Rate Hike Unjustified, Advocates Say
Consumer advocates question what is driving higher rates and defend the new late fee rule by the CFPB.
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Letter Opposing Efforts to Overturn Credit Card Late Fees Rule
NCLC was among 90 national, state, and local organizations that sent a letter to Congress strongly opposing any attempts by lawmakers to overturn the Consumer Financial Protection Bureau’s (CFPB) finalized rule on credit card late fees. Overturning the rule would result in higher credit card fees for working families. The rule is a critical step…
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CFPB Rule Prohibiting Excessive Credit Card Late Charges Will Save Consumers Billions in Junk Fees
Advocates praised action taken by the CFPB to stop credit card lenders from raking in billions of dollars from excessive late fees.
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Letter to President Biden and CFPB Supporting Lower Credit Card Late Fees
President Joe BidenThe White House1600 Pennsylvania AvenueWashington DC 20500 Mr. Rohit Chopra, DirectorConsumer Financial Protection Bureau1700 G St. NWWashington, DC 20552 Ms. Lael Brainard, DirectorMr. Michael Negron, Special Assistant to the President for Economic PolicyNational Economic Council1600 Pennsylvania Avenue NWWashington, DC 20500 Dear President Biden, Director Chopra, Director Brainard and Special Assistant Negron, The undersigned…
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USA Today: Interest rates on some retail credit cards climb to record 33%. Can they even do that?
Originally appearing in USA Today on November 1, 2023, Daniel de Visé talks to NCLC senior attorney Chi Chi Wu about rising credit card interest rates. “Yep. They can charge that much. Credit cards can actually charge whatever they want. It’s a little-known fact.” Chi Chi Wu, a senior attorney at the nonprofit National Consumer…
