Originally appearing in The New York Times on July 26, 2024, Ann Carrns interviews NCLC associate director Lauren Saunders on JPMorgan Chase’s decision to bar customers from using its credit cards to repay increasingly popular “buy now, pay later” installment loans. Financial regulators and consumer advocates frown upon using credit cards to pay off installment…
Landmark Complaint Outlines Pattern and Practice of Illegal Overcharging, Incompetence, and Ongoing “Call Deflection” Doom Loop July 22, 2024 | Washington, D.C. – Today, the AFT filed a groundbreaking consumer protection lawsuit against the Higher Education Loan Authority of the State of Missouri (MOHELA), the giant student loan servicing company under fire for mismanaging student…
Final Conference Committee budget includes measures to protect homeowners, providing affordable payment plans and reduced interest rates on past due balances BOSTON — On Friday, Massachusetts lawmakers took a huge step forward for low-income and vulnerable homeowners, approving a measure that reduces Bay Stater’s risk of losing their homes to property tax foreclosure. Homeowners in…
Read More about Legislation to Reduce Property Tax Foreclosures Clears Budget Hurdle
Appearing in CNBC on July 19, 2024, Greg Iacurci interviews Lauren Saunders for coverage of new rules to cover workplace payday loans. If finalized, the rule would allow the CFPB to bring enforcement actions against companies that don’t make the appropriate disclosures, for example, said Lauren Saunders, associate director of the National Consumer Law Center.…
This article focuses on the implications of recent decisions for consumer attorneys bringing claims relying on federal agency rules and agency interpretations of federal consumer laws.
Read More about Digital Library: Consumer Litigation Guide to Supreme Court Rejection of Chevron
Advocates applauded the proposed interpretative rule released today by the Consumer Financial Protection Bureau (CFPB) to address evasions by fintech payday lenders that hide the cost of 300% annual percentage rate (APR) loans and evade state rate caps.
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