Appearing in The New York Times on June 9, 2024, Kashmir Hill quotes NCLC Senior Attorney Chi Chi Wu in coverage of an auto insurance industry trend to collect data on driver habits and produce driver scores. While you can see your credit score, you will have a harder time finding out what your driving…
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The Student Loan Toolkit explains the basics of the student loan system, how to assess your own student loan situation, and your options for managing your student loan debt.
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Appearing in American Banker on May 29, 2024, NCLC Senior Attorney Chi Chi Wu takes on an op-ed that accused the Consumer Financial Protection Bureau of “manipulating data.” To the Editor: In Kathy Kraninger’s op-ed “CFPB must stop manipulating data to support its policy preferences,” the agency’s former director accuses the Consumer Financial Protection Bureau of…
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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.
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