Newsroom

American Banker: It's past time for the Fed to expand ACH settlement to weekends

April 3, 2024

In an op-ed appearing in American Banker on April 3, 2024, NCLC senior attorney Carla Sanchez-Adams and Michael Herd, Executive Vice President for ACH Network Administration at Nacha, write tourge the Federal Reserve to expand the ACH network’s hours of operation to settle payments on weekends and holidays. “Expanding NSS operating hours means American workers…

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CNN: 40-year mortgages offer a route to homeownership — at steep risk and cost

April 8, 2024

Appearing in CNN Underscored on April 8, 2024, Alaya Linton, Andrew Pentis, and Katie Lowery talk to Sarah Bolling Mancini about 40-year mortgages that make monthly payments smaller but increase the total cost of repayment. “In the first five or six years of a 30-year mortgage, almost all of the payment is going towards interest.…

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Mass. Senate Passes Debt Collection Fairness Act, Protecting Struggling Families

April 3, 2024

Bill limits wages that can be seized and ensures no one can be imprisoned for consumer debt BOSTON – Last week, the Massachusetts Senate unanimously passed the Debt Collection Fairness Act, which would protect thousands of Massachusetts families struggling with debt from excessive seizure of wages and demands for outrageous interest on consumer debt. It…

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144 Organizations Support CFPB Rule to Curb Abusive Overdraft Fees

April 1, 2024

Proposed rule will promote fair and affordable overdraft coverage and prevent big banks from charging junk fees WASHINGTON – Today, 144 consumer, civil rights, military, legal services, and community groups submitted comments in strong support of the Consumer Financial Protection Bureau’s (CFPB) proposed rule governing the overdraft lending practices of the largest financial institutions. [The…

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American Banker: Industry groups sue over Colorado's crackdown on high-cost lending

March 26, 2024

Appearing in American Banker on March 26, 2024, Kevin Wack interviews NCLC associate director Lauren Saunders for coverage of industry groups suing to block a Colorado law — set to take effect this summer — that will serve as a test case in the nationwide legal fight over state interest rate caps on consumer loans. Lauren Saunders,…

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Digital Library: 75 Ways to Challenge an Arbitration Requirement

March 25, 2024

A new NCLC Arbitration Practice Checklist, free and accessible to the public, is found at NCLC’s Consumer Arbitration Agreements § 1.2a. It not only lists 75 ways to defeat an arbitration requirement, but also considers procedural issues in such a challenge, including who decides enforceability and timing of appeal rights. The checklist also explains options to proceed in arbitration—individual,…

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Newsroom

American Banker: It's past time for the Fed to expand ACH settlement to weekends

CNN: 40-year mortgages offer a route to homeownership — at steep risk and cost

Mass. Senate Passes Debt Collection Fairness Act, Protecting Struggling Families

144 Organizations Support CFPB Rule to Curb Abusive Overdraft Fees

American Banker: Industry groups sue over Colorado's crackdown on high-cost lending

Digital Library: 75 Ways to Challenge an Arbitration Requirement

Support NCLC