CFPB and DOJ Sue Predatory Mortgage Lender for Reverse Redlining, Exploiting Consumers With Limited English Proficiency
DOJ and CFPB jointly sue Colony Ridge for operating an illegal land sales scheme that targeted low-income Hispanic consumers.
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Chicago Sun-Times: New discount rate system a ‘game changer’ for Chicagoans struggling with heating bills, advocates say
Appearing in the Chicago Sun-Times on Dec. 4, 2023, Mitchell Armentrout quotes NCLC senior attorney Karen Lusson in a look at a new discount rate system that’s expected to help prevent more utility shut-offs in lower-income neighborhoods across Chicago. “This is an absolute game-changer for people struggling with their heating bills in brutal Chicago winters.”…
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American Banker: States must protect consumers from high-cost fintech cash advances
Advocates discuss how states are starting to grapple with purportedly new categories of small-dollar loans: earned wage advances and other types of fintech cash advances.
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Digital Library: 2023 in Review on the NCLC Digital Library
The NCLC Digital Library keeps you current with authoritative analysis of all of the latest developments in consumer law.
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Senate Introduces 36% Rate Cap Bill to Curb High-Cost Loans, Junk Fees
Senator Jack Reed (D-RI) introduced the Predatory Lending Elimination Act, which extends to veterans and all consumers the 36% annual percentage rate cap found in the Military Lending Act and prevents the use of junk fees to hide high-cost loans.
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Coalition Applauds Congressional Efforts to Restore Consumer Rights
Today, a coalition of consumer advocacy organizations applauded Congressional efforts to restore consumer rights in financial products.
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