A Letter from Rich Dubois, Executive Director, NCLC

nclc

NCLC supporters and allies –

A bit of good news during a generally troubling time: the Court of Appeals for the District of Columbia ruled yesterday that the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, in a landmark victory for the CFPB and a serious blow to President Trump’s efforts to undermine the agency. NCLC joined an amicus brief in support of the Consumer Bureau, and we are very pleased by the outcome of this case.

But make no mistake: the Consumer Bureau still faces a threat to its very existence as a strong and independent champion for consumers, through the ongoing and unrelenting efforts by enemies in Congress, the Trump Administration and Acting CFPB Director Mick Mulvaney to turn the agency from one successfully protecting American consumers into one that instead protects banks, financial services companies, abusive debt collectors and predatory lenders.

Mick Mulvaney (unlawfully appointed by President Trump as acting director) has acted quickly to reverse as much of the successful work of the Consumer Bureau as possible and to hamstring the agency into the future. Under Mulvaney, the bureau announced its intention to delay and “revisit” a new and important rule addressing abuses by payday lenders – who contributed to Mulvaney’s congressional campaigns. It has dropped a lawsuit against online payday lenders that made illegal loans with interest rates as high as 950 percent. It dropped an investigation into a lender (another Mulvaney contributor) that was the subject of a ProPublica series documenting questionable lending practices. The signals that Mulvany is sending are unmistakable.

But you don’t have to be an expert at reading between the lines to understand the magnitude of these threats. Shockingly, a new mission statement posted on the Consumer Bureau’s website actually identifies the “addressing” of “outdated, unnecessary, or unduly burdensome regulations” as the first part of the core mission of the bureau. And Mulvaney has initiated a plan to revisit all of the Consumer Bureau’s policies, priorities, and procedures, and indicated that he will ask the financial services industry how it would prefer to be regulated, an obvious precursor to dramatically scaling back the enforcement of consumer protection laws.

It is crystal clear that a wide range of consumer rights – perhaps ultimately all core consumer rights — are at risk.

I want to let you know that NCLC is going to continue fighting tooth-and-nail, regulation by regulation, to preserve a strong and independent consumer watchdog and to protect the pro-consumer accomplishments of the Cordray era.

NCLC is waging a multi-faceted, integrated advocacy campaign to defend consumer rights. Working in close coordination with a broad network of national, state and local organizations and allies, we are enhancing our strategic communications efforts; building, strengthening and highlighting bipartisan support for consumer protection; and expanding our advocacy for consumers at the state level, where pro-consumer progress is currently more feasible and defensive work is also critical.

Even in these dark days, we’re making a difference. Earlier this month, the House Financial Services Committee was scheduled to vote on whether to open the floodgates to abusive litigation conduct by debt collection attorneys and debt buyers who work in their name. NCLC attorney Margot Saunders and our ally Bart Stichman of the National Veterans Legal Services Program wrote a powerful op-ed laying out the many problems with the bill, and why it was so harmful to consumers. We also worked with allies in Texas and a law professor who published an op-ed that ran in the sponsor’s district the day before the hearing took place. The result? The anti-consumer bill was dropped from the committee’s agenda at the last minute. We may well see it again – but we’ll continue to be prepared to fight it as long as necessary.

NCLC’s expertise is more critical than ever in this suddenly changed environment. And your support of our work is more critical than ever, too. If you haven’t yet made an additional gift in this extraordinary time, I hope you’ll make a gift to support NCLC’s Consumer Rights Defense Fund today.

We’ve been through tough times before, and managed to protect consumers and set the stage for future victories even in the most challenging periods. We may not win every battle, but I’m confident that we’ll win the long-term fight by standing together – and by being right.

Thank you for your past, present and future support,

duboissign
dubois

Rich Dubois
Executive Director
National Consumer Law Center

No Author Biography has been linked to this Article.

Related Articles

IMG_Trevorrow headshot 2
April 7, 2024
This article looks at Rule 12(b)(1) by presenting a three-question test synthesizing decades of Eleventh Circuit case law.
Members
DeCarlo01
October 16, 2022
The facts in In re DeWitt, 2022 WL 4588320 (Bankr. S.D. Ohio 2022), are a bit “unusual”. Debtor filed Chapter 13 to reinstate her mortgage. The mortgage was “non-escrowed” and Debtor was required to pay property taxes directly. Surprisingly, she did not pay her property taxes. The first time, the Lender paid the property taxes but decided not to pursue...
Members
cohen3
October 29, 2023
“FFEL and Perkins loans are different than other federally backed student loans as these are owned by private lenders, but guaranteed by the government.”
June 21, 2020
By Academy Staff The Automatic Stay is one of the most fundamental aspects of the Bankruptcy Code, providing a Chapter 7 Trustee “breathing room” to investigate Debtor’s financial affairs; and providing Debtors in Chapter 13 time to formulate and confirm a Chapter 13 Plan without facing the imminent loss of assets. Equally important, most Courts have concluded that actions in...
Members
September 22, 2019
By Cathy Moran, Esq. (Redwood City, CA) I wrote earlier about calculating the projected income tax deduction on the means test when the year of filing situation looks much like last year. But what if things aren't the same year over year? Your job as a bankruptcy attorney becomes more complicated. It's suddenly more than figuring the tax refund or...
Members
August 15, 2021
By Karin N. Amyx, Staff Attorney to Chapter 13 Trustee Carl Davis (Wichita, KS) Trustees possess a variety of sensitive information that could be useful to litigants in contract disputes, divorce and child custody matters, insurance litigation or criminal prosecution. Additionally, debtors, creditors or third parties may be interested in the trustee’s internal operating procedures or legal position on disputes...
Members
March 21, 2021
By The Honorable Kevin R. Anderson, United States Bankruptcy Court for the District of Utah Coming off the longest economic expansion in U.S. history, Chapter 13 filings were at their lowest levels since 2007. With the country entering a sudden and unanticipated recession in February of 2020, we expected to see Chapter 13 filing rates increase; however, the opposite occurred....
Members
December 22, 2019
By William Houston Brown, Editor/Adviser, Academy for Consumer Bankruptcy Education On December 18, 2019, the Supreme Court granted the City of Chicago’s petition for certiorari, 2019 WL 6880702, from the decision of the Seventh Circuit at 926 F.3d 916 (7th Cir. June 19, 2019). The Seventh Circuit’s decision was analyzed in a prior article on this website. In its decision,...
Members
ahern_larry_regular
March 20, 2022
"Finality" in Bankruptcy When is an order within a bankruptcy case "final"? When must a party to the proceeding appeal within 14 days? When may a party either seek interlocutory review or sit back and wait until something more occurs to make the order final? Final orders are appealable. In civil actions, this is a relatively easy proposition to apply...
Members
NBR cropped 2
May 19, 2024
Debtor Attorneys, this one is specifically for you – a very direct answer from our ethics expert on a real-world scenario regarding ghosting clients (ghosting is an adjective here, not a verb! Have a question for Ms. Ps & Qs? Click here – you may remain anonymous if you wish.
Members

Looking to Become a Member?

ConsiderChapter13.org offers a forum to advance continuing education of consumer bankruptcy via access to insightful articles, informative webinars, and the latest industry news. Join now to benefit from expert resources and stay informed.

Webinars

These informative sessions are led by industry experts and cover a range of consumer bankruptcy topics.

Member Articles

Written by industry experts, these articles provide in-depth analysis and practical guidance on consumer bankruptcy topics.

Industry News

The Academy is the go-to source for the latest news and analysis in the Chapter 13 bankruptcy industry.

To get started, please let us know which of these best fits your current position: