Appearing in the Detroit Free Press on May 31, 2024, Susan Tompor interviews Sarah Bolling Mancini, NCLC’s co-director of advocacy for a story on zero-interest down payment loans for first-time homebuyers. “The biggest risk is that people might not understand that it does have to be paid back eventually. It’s possible that they might not…
Appearing in The New York Times on May 31, 2024, Ann Carrns interviews NCLC Associate Director Lauren Saunders for coverage of the popular “buy now, pay later” installment loans and new CFPB rules to treat them like credit cards. While some card protections under the Truth in Lending Act don’t apply to these alternative loans, consumer advocates…
Read More about The New York Times: ‘Buy Now, Pay Later’ Borrowers Get More Safeguards With New Rule
The CFPB made clear that BNPL is credit covered by the federal Truth in Lending Act (TILA) and is a form of credit card that must comply with some, though not all, of TILA’s credit card rules.
Read More about CFPB Improves Protections for Buy Now Pay Later Loans
A resolution passed by the U.S. Senate Tuesday to block new furnace efficiency standards would raise costs for households and cause needless pollution.
Read More about U.S. Senate’s Rollback of Furnace Standards Would Add Costs and Pollution
A new issue brief provides recommendations for states to protect property owners from unnecessary tax foreclosures.
Appearing in The Hill on June 21, 2022, an op-ed by Chi Chi Wu, senior attorney at the National Consumer Law Center looks at the explosion in popularity of buy now, pay later products and how they are far inferior to credit cards in establishing a solid credit record. “Younger consumers who are avoiding credit…
Read More about The Hill: Buy now, pay later is not a cure for credit building
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