What is forced arbitration? Forced arbitration clauses are hidden in the fine print of agreements. They take away your access to the courts and give companies that violate the law a get-out-of-jail-free card. If you have a dispute, you cannot file a lawsuit in court and have the case heard in public. You also typically [...]
You have two separate options for stopping preauthorized recurring debits from your bank account. You may want to use both. For more information, visit the website of the Consumer Financial Protection Bureau: How do I stop automatic payments from my bank account? IMPORTANT: Stopping debits from your bank account does not stop your obligation to [...]
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May 3, 2022 Use of the Supplementary Consumer Information Form (SCIF) will enable effective communication between borrower and lender throughout the home buying process. WASHINGTON – Today, National Consumer Law Center, Americans for Financial Reform, Consumer Action, Empire Justice Center, National Community Stabilization Trust, National Fair Housing Alliance, UnidosUS, and National CAPACD applauded the Federal [...]
May 2, 2022 WASHINGTON – In response to the Consumer Financial Protection Bureau’s (CFPB) call for public input on how to save Americans billions in junk fees charged by financial companies, leading consumer advocacy organizations submitted an extensive comment letter detailing junk fees across a wide range of consumer financial products and services. The letter [...]
April 28, 2022 WASHINGTON – Today, the Department of Education (ED) announced approval of a $238 million group discharge for 28,000 federal student loan borrowers harmed by “pervasive and widespread misconduct” at Marinello Schools of Beauty. In response, Kyra Taylor, staff attorney at the National Consumer Law Center, issued the following statement: “Today’s actions could [...]
April 26, 2022 New lawsuit calls attention to languishing Borrower Defense group applications WASHINGTON – Today, Student Defense, the Project on Predatory Student Lending, and the National Consumer Law Center filed a lawsuit against U.S. Education Secretary Miguel Cardona and the Department of Education on behalf of student loan borrowers with unresolved Borrower Defense to [...]
April 20, 2022 WASHINGTON – Today, the Consumer Financial Protection Bureau (CFPB) issued a report examining the financial consequences of medical billing and collection endured by individuals and families nationwide. The report draws from analysis of the rising volume of medical billing and collection complaints submitted to the CFPB, which show “coercive credit reporting and [...]
April 19, 2022 The U.S. Department of Education must provide clarity to borrowers and relief for those most harmed by failures WASHINGTON – Today the Department of Education announced that it will implement reforms to address some of the longstanding problems with the income-driven repayment (IDR) program for federal student loans that have prevented the [...]
April 12, 2022 WASHINGTON – In response to the Consumer Financial Protection Bureau’s announcement today that it is filing a lawsuit against TransUnion and its longtime executive John Danaher for violating a 2017 law enforcement order, advocates at the National Consumer Law Center issued the following statements: “This type of flagrant violation is typical behavior [...]
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