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CFPB Drops Lawsuit Against Illegal Tip-Based Payday Lender

February 24, 2025

Peer-to-peer loan platform, sued by multiple states, claims 0% APR for 400% APR loans WASHINGTON ––Late Friday the Consumer Financial Protection Bureau (CFPB) dismissed, with prejudice, an enforcement action that it had filed last year against SoLo Funds for deceiving borrowers and illegally extracting fees. Under the previous administration, the CFPB had charged SoLo Funds…

CNBC: Yes, you still have to pay your student loans if the Department of Education is eliminated, legal expert says—what borrowers should know

February 21, 2025

Appearing in CNBC on February 21, 2025, Kamaron McNair talks to NCLC Co-Director of Advocacy Abby Shafroth for coverage of talks of eliminating the U.S. Department of Education and the impact on student loan borrowers. First and foremost, even if the department is eliminated, borrowers who owe money on their federal student loans would be…

USA Today: No more consumer protection? What the CFPB shutdown means for you.

February 21, 2025

Originally appearing in USA Today on February 21, 2025, Daniel de Visé interviews NCLC Associate Director Lauren Saunders for coverage of the Trump Administration’s attack on the Consumer Financial Protection Bureau and calls for it to be shut down. “We are hoping that these are broadly popular measures, that Republicans will understand that their voters…

After FCC Abandons Popular Telemarketing Rule, Consumers Take Action to Save It

February 20, 2025

Small business owners and consumer advocates have stepped up to save a popular anti-robocall rule ATLANTA — Yesterday, four small business owners and the National Consumers League asked the U.S. Court of Appeals for the Eleventh Circuit for permission to intervene to request a rehearing after it issued a decision to overturn a Federal Communications…

Marketplace: Why do you still get unwanted calls from telemarketers?

February 7, 2025

Appearing in Marketplace on February 7, 2025, Janet Nguyen talks to NCLC senior attorney Margot Saunders about why consumers still receive unwanted telemarketing robocalls. The FCC bans spoofing with ill intent, but the agency only has so many resources to handle complaints. Telemarketers will claim they got consent to make their calls. But telemarketers often ask…

CNBC: A new bill would cap credit card interest rates at 10%. Here’s what that could mean for your money