Sunday, September 22, 2019
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102 House Members Rebuke Delay of Payday Loan Rule Waters Led Effort Supported by Many CBC Members
September 5, 2019
Anyone who struggles with the rising costs of living knows all too well how hard it is to try stretching dollars when there’s more month than money in the household. Predatory lending, like payday and car-title loans, worsen financial stress with triple-digit interest rates that deepen the debt owed with each renewal.    ... read more »
America’s Racial Wealth Gap Could Cost Economy $1.5 Trillion
August 29, 2019
America’s nagging racial wealth gap has been the focus of many research reports and economic policy debates. Now new research analyzes the strong connection between disproportionate wealth and financial services and products that are either shared or denied with consumers of color. ... read more »
Harris, Blumenthal to JPMorgan Chase CEO Jamie Dimon: Forced Arbitration is Unfair and Unjust
June 7, 2019
U.S. Senators Kamala D. Harris (D-CA) and Richard Blumenthal (D-CT) on Friday sent a letter to JPMorgan Chase Chairman and Chief Executive Officer Jamie Dimon urging the bank to eliminate a forced arbitration clause from its credit card agreements. Despite initially removing it in 2009, JPMorgan Chase has recently informed its customers of updated account terms that now, once again, include a forced arbitration clause. The new provision will be imposed on consumers unless they send Chase a physical letter within 60 days of receiving the notice. ... read more »
Civil Rights Org., Muslim Advocates, Settles Pool Discrimination Lawsuit
January 31, 2019
The national civil rights organization, Muslim Advocates, and its co-counsel announced a settlement of a lawsuit against the city of Wilmington, Delaware. The lawsuit alleged that Muslim children were repeatedly harassed at city pools last year because of clothing worn for religious reasons. ... read more »
State AGs to DeVos: Work with, Not Against, State Law Enforcement
July 26, 2018
Starting last summer, student loan servicers like Navient have been lobbying DeVos to shield them from liability for their practices. And it’s worked. Despite objections from a bi-partisan group of Attorneys General (AGs), the National Association of Governors, and the Conference of State Bank Supervisors, DeVos and the Department of Education have increasingly made it more difficult for state and federal law enforcement agencies to do their jobs by retracting information sharing agreements with the Consumer Financial Protection Bureau (CFPB) and instructing servicers not share student loan information with state law enforcement and banking supervisors. ... read more »
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