Coalition Letter to U.S. Department of Education Urging Immediate Unveiling of Hardship NPRM

227 organizations representing millions of students, borrowers, workers, people of color, veterans, people with disabilities, and consumers crushed under the weight of the student loan debt crisis, wrote to urge the Department of Education to immediately unveil its Notice of Proposed Rulemaking (NPRM) to provide student loan debt relief to student loan borrowers experiencing hardship.

Support for the Forced Arbitration Injustice Repeal Act (the FAIR Act), S.1376 and H.R. 2953

Public interest organizations, appalled by the Walt Disney Company invoking its restrictive terms of use to evade accountability for the death of a consumer on its premises, wrote to Congress in support of an immediate mark up to the Forced Arbitration Injustice Repeal Act (the FAIR Act), S.1376 and H.R. 2953 so that this legislation may be brought to a...

Consumer Organizations and Attorneys Urge the Consumer Financial Protection Bureau to Issue a Final PACE Rule

The undersigned consumer organizations and attorneys write to urge the Consumer Financial Protection Bureau to issue a final PACE rule. Last year, we applauded the Bureau for proposing a strong rule that would ensure PACE borrowers receive critically important consumer protections under Regulation Z. But the proposed rule came five years after Congress amended the Truth in Lending Act (TILA)...

New Homes with Mortgages Backed by the Enterprises Should Meet Updated Building Energy Code Requirements

More than 120 affordable housing, consumer, health, energy efficiency, environmental, business, and other organizations at the national, state, and local levels joined this letter to urge the FHFA to direct the Government Sponsored Enterprises, Fannie Mae and Freddie Mac, to join the Department of Housing and Urban Development (HUD) and the Department of Agriculture (USDA) in requiring that all new...

Recommendations on How FHA Should Shape Its Post-COVID Loss Mitigation Waterfall

The National Consumer Law Center, on behalf of its low-income clients, and the Center for Responsible Lending write with recommendations on how FHA should shape its post-COVID loss mitigation waterfall. As the market turns from a response to COVID-19 to identifying permanent policies informed by lessons learned from the pandemic, FHA has an opportunity to strengthen the options it makes...

Coalition Opposing the Financial Services Innovation Act of 2023 (HR 7440)

This legislation purports to provide a safe harbor for financial innovation, but too often, “innovation” is synonymous with a lack of meaningful safeguards for consumer financial products. Creating these regulatory “sandboxes” for companies would force agencies to shirk their statutory duties to enforce the law and protect consumers and instead prioritize allowing risky and unproven products into the marketplace before...

Coalition Opposing Earned Wage Access Consumer Protection Act (HR 7428)

The 193 labor, civil rights, consumer, legal services and community groups and academics joined in this letter to express opposition to the draft Earned Wage Access Consumer Act. In the guise of offering protections, the bill obscures its true effect: to exempt fintech cash advances from the Truth in Lending Act, to endorse a form of loan that makes workers...

Joint Letter on the Veterans Assistance Servicing Purchase Program

The Center for Responsible Lending, Housing Policy Council, Mortgage Bankers Association, and National Consumer Law Center (on behalf of its low-income clients) wrote to the Department of Veteran Affairs (VA) to recommend that the VA pursue payment reduction targeting rather than interest rate targeting as part of their upcoming VA Servicing Purchase (VASP) loss mitigation option.

Civil Rights Group Letter on Proposed CDFI Program–Certification Application and Annual Reporting

The Center for Responsible Lending, Leadership Conference on Civil and Human Rights, NAACP, National Association of Latino Community Asset Builders (NALCAB), National CAPACD, National Urban League, and UNIDOS US joined in a letter to support "that CDFI certification is truly reserved for mission-driven, community development organizations."