FOR IMMEDIATE RELEASE: June 26, 2020 National Consumer Law Center contact: Jan Kruse (jkruse@nclc.org) Boston – National Consumer Law Center advocates are extremely disappointed that today Congress  failed to override President Trump’s veto of Congress’s prior bipartisan vote to protect federal student loan borrowers by striking down the Department of Education’s new borrower defense regulations. The [...]

FOR IMMEDIATE RELEASE: June 22, 2020 National Consumer Law Center contact: Jan Kruse (jkruse@nclc.org) Washington, D.C. – Today, the Consumer Financial Protection Bureau released two proposed rules that together will fundamentally reshape the mortgage market at a time when the market is attempting to adjust to the pandemic and recession and access to credit for communities [...]

FOR IMMEDIATE RELEASE: June 18, 2020 National Consumer Law Center contact: Jan Kruse (jkruse@nclc.org) Washington, D.C. – Today, the Consumer Financial Protection Bureau announced a pilot advisory opinion program designed to provide additional protections for financial institutions at the expense of consumers. Under the CFPB pilot, itself issued without notice and comment, financial institutions are [...]

Colorado Court Follows “Madden” Decision that Banks Can’t Assign Bank Privileges to Nonbank Lenders FOR IMMEDIATE RELEASE: JUNE 10, 2020 National Consumer Law Center Contacts: Jan Kruse (jkruse@nclc.org) or Lauren Saunders (lsaunders@nclc.org) Washington, D.C. – Consumer advocates praised yesterday’s ruling by a Colorado court upholding the Colorado Attorney General’s claim that an online lender, Marlette Funding [...]

Elevate charged 99% to 251% APR despite D.C.’s 6% to 24% rate cap FOR IMMEDIATE RELEASE: JUNE 5, 2020 National Consumer Law Center Contacts: Jan Kruse (jkruse@nclc.org), Lauren Saunders (lsaunders@nclc.org) Washington, D.C. – Consumer advocates praised today’s announcement by District of Columbia (DC) Attorney General Karl Racine that he has filed a lawsuit against online lender [...]

June 4, 2020 The tragic death of George Floyd is just the latest in a long and repugnant history of unarmed African American deaths at the hands of police officers. We mourn the loss of his life and the lives of so many others like him in the history of this country. The repetition of [...]

FOR IMMEDIATE RELEASE: June 4, 2020 National Consumer Law Center contact: Jan Kruse (jkruse@nclc.org) Washington, D.C. - Under the guise of allowing “relief” to consumers during the COVID-19 pandemic, the Consumer Financial Protection Bureau (CFPB) issued guidance yesterday that will undermine critical consumer protections in federal law that ensure that consumers receive important disclosures about [...]

FOR IMMEDIATE RELEASE: June 1, 2020 Contacts:  National Consumer Law Center: Jan Kruse (jkruse@nclc.org) Student Borrower Protection Center: Moira Vahey (moira@protectborrowers.org) Advocates File Complaint with Federal Trade Commission; Urge Enforcement Action Against Vemo Education for Its Deceptive Marketing of Income-Share Agreements to Students Vemo-Built Comparison Shopping Tools for University of Utah and Purdue University Falsely [...]

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