National Consumer Law Center

05/27/2026

A new report from the National Consumer Law Center warns that a growing number of renters across the country, including in the District, are being pulled into costly “security deposit alternative” programs that consumer advocates say strip tenants of legal protections while generating profits for property technology companies.

The report warns that households of color are more likely to suffer the consequences of these products because Black and Latino renters are already disproportionately burdened by housing costs and discriminatory tenant screening systems.

“State and local governments should take steps now to address unaffordable upfront rental housing costs, including junk fees, and to rein in these harmful products,” reported Ariel Nelson, senior attorney at NCLC. “Local governments can increase access to traditional security deposits, increase enforcement of existing laws, and prohibit abusive practices by landlords and security deposit alternative companies.” The Washington Informer

Security deposit alternatives strip tenants of legal protections and generate profits for property tech companies, warns National Consumer Law Center.

05/26/2026

The show’s advice to Marie was simple: cut off all financial access, close any compromised accounts and freeze her credit with all three major bureaus — TransUnion, Equifax and Experian — so no new accounts can be opened in her name.

Beyond that, the National Consumer Law Center advises submitting any dispute in writing to your card issuer, not just reporting it over the phone, as written billing error notices carry advantages over verbal reports alone

When a live-in partner uses your credit cards without telling you, who's liable, and can you actually fight the charges?

05/26/2026

The rise of property technology, or “PropTech,” is exacerbating the country’s rental housing affordability crisis. A new report shines a light on one predatory PropTech product, security deposit “alternatives.” Millions of tenants who use them end up paying more and may be left with fewer legal protections.

“Security deposit alternative products attempt to evade state laws designed to protect tenants,” said April Kuehnhoff, senior attorney at the National Consumer Law Center and co-author of the report. “They are marketed as a helpful tool for renters struggling to raise the sizable fees required to move into a new apartment. But in reality, they’re just another way to extract profits from tenants with low incomes.”

New NCLC Report Reveals Hidden Risks and Costs of Predatory PropTech Products

05/22/2026

The impact of coerced debt on survivors is devastating. Perpetrators of abuse use coerced debt to gain financial control over survivors’ current and future economic choices. Many survivors do not discover unknown coerced debt accounts until after they have been placed for collection and their credit record has already been damaged.

This article provides tips for assisting clients struggling with debt incurred by an abusive partner through identity theft or coercion. While focusing on advice for survivors of domestic violence, similar advice may apply to survivors of human trafficking, elder abuse, abuse by caretakers for persons with disabilities, and foster parent abuse targeted at foster youth.

Perpetrators of abuse use coerced debt to gain financial control over survivors’ current and future economic choices.

05/22/2026

Consumers and consumer protections are under siege, and the role of housing advocates has never been more vital.

Join us online July 13-17 for the 2026 Mortgage Conference to gain the knowledge and tools necessary to defend vulnerable homeowners in this evolving landscape.

Join us virtually for expert-led sessions on need-to-know topics and pressing issues facing vulnerable homeowners in 2026.

05/21/2026

As HEIs proliferate, even basic questions about the products can be difficult to answer. The industry argues that they are investments, not loans, emphasizing the lack of monthly payments. But when it comes time to pay, the maturity date, lien on the home and threat of a forced sale make the distinction harder to draw.

The National Consumer Law Center calls them “subprime mortgages” with predatory rates, disguised to bypass laws designed to protect consumers. The terms of the contracts are confusing, and the true cost of an HEI requires making difficult calculations about rates of real estate appreciation and inflation a decade into the future.

“The typical contract and associated agreements can be more than 100 pages long. These transactions also exploit aspects of consumer psychology that can trap even financially sophisticated people.” Bloomberg

Investors are pouring money into housing contracts that exchange cash for a slice of future appreciation

05/21/2026

Federal banking regulators should reject Enova International Inc.'s bid to buy a national bank because it would allow the online lender to issue high-cost loans in states with interest rate caps, U.S. Senator Elizabeth Warren (D-Mass.) and Senator Van Hollen (D-Md.) said in a Wednesday letter to regulators shared exclusively with Bloomberg.

“By acquiring Grasshopper and moving the bank’s headquarters, Enova would succeed in unlocking the benefits of the bank’s national bank charter for the purposes of expanding Enova’s predatory lending strategies to the national stage, side-stepping the interest rate caps of 45 states."

Federal banking regulators should reject Enova International Inc.'s bid to buy a national bank because it would allow the online lender to issue high-cost loans in states with interest rate caps, Democratic senators said.

05/20/2026

President Trump’s Executive Order on financial technology, issued last night, instructs federal financial regulators to remove barriers for predatory rent-a-bank schemes and other risky arrangements between fintechs and banks, and to make it easier for nonbank companies to become banks. The order also encourages the integration of crypto (“digital assets”) into every area of the U.S. financial system.

“Giving crypto companies and other uninsured payment apps access to Fed accounts will make it easier for companies to offer risky types of accounts, putting consumer funds – and the entire economy– at risk,” said Carla Sanchez-Adams, senior attorney at NCLC. “These accounts can mimic bank accounts but without clear consumer protections against fraud or deposit insurance, creating confusion for consumers who may be left holding the bag when problems inevitably occur.”

Order Could Enable Payday Lenders to Ignore State Consumer Protection Laws and Skip Guardrails to Get Bank Charters

05/20/2026

RIP Congressman Barney Frank, the legendary co-sponsor of the Dodd-Frank Act, which reined in the financial industry after the 2007 housing crisis.

Your work helped millions and your legend lives on in all who fight for consumer protection and economic justice.

Thank you, Barney!

05/20/2026

President Trump issued an Executive Order yesterday seeking to cut huge numbers of immigrants out of the mainstream financial system and to weaponize the financial system against immigrants to further the Administration’s mass deportation efforts.

“If implemented by regulators, this ill-conceived executive order will radically destabilize the U.S. financial system and force debanking on an unprecedented scale,” said Diane Thompson, deputy director and chief advocacy office at the National Consumer Law Center (NCLC). “Forcing people to put their money under the mattress instead of in the bank is a further assault on the financial system and immigrant communities.”

Actions Would Radically Destabilize the National Banking System

05/19/2026

Mistakes on credit reports are increasing. And this is coming at a time when credit bureaus are not resolving disputes at the rate they were in the past.

Your credit history is your financial barometer with lenders. However, if you have inaccurate information with one and it isn't resolved, it places you at a huge disadvantage when you need to borrow money, especially if those errors contribute to a lower credit score. Kiplinger

Here's how to protect your credit health when no one else wants to.