National Consumer Law Center Inc

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BUILDING FAMILY AND INDIVIDUAL ECONOMIC SECURITY: LOW-INCOME FAMILIES HAVE LITTLE OR NO SAVINGS TO PROVIDE A SAFETY NET, LIVING WEEK TO WEEK AND MONTH TO MONTH TO MEET BASIC EXPENSES. THIS POPULATION IS DISPROPORTIONATELY TARGETED FOR OVERPRICED FINANCIAL SERVICES, SUCH AS EXCESSIVE BANK FEES, HIGH-COST LOANS, AND PREDATORY HOME MORTGAGES. LAX REGULATION HAS LEFT MANY FAMILIES VULNERABLE TO WEALTH-STRIPPING PRACTICES AND DEEPLY IN DEBT, REDUCING OPPORTUNITIES FOR HIGHER EDUCATION, JOB TRAINING AND HOMEOWNERSHIP. TO COUNTER THESE TRENDS AND HELP LOW-INCOME PEOPLE BUILD ASSETS AND ECONOMIC SECURITY, NCLC PROMOTED THE ADOPTION AND ENFORCEMENT OF STRONG CONSUMER PROTECTIONS IN THE FINANCIAL SERVICES MARKETPLACE THROUGHOUT 2021.

PRESERVING HEAT, ELECTRICITY, BROADBAND AND WATER: NCLC PUBLISHED 2 CRITICAL RESOURCES TO PROTECT THE HEALTH AND SAFETY OF HOUSEHOLDS IN QUARANTINE: A GUIDE TO RECENT FEDERAL COVID-19 RELIEF TO HELP CONSUMERS PAY FOR ESSENTIAL ENERGY, WATER, AND BROADBAND SERVICE, AND THE REPORT HOW STATES CAN PROTECT SERIOUSLY ILL RESIDENTS FROM UTILITY SHUT-OFFS. NCLC WAS ACTIVELY INVOLVED IN SUCCESSFUL PROCEEDINGS REGARDING MORATORIUMS ON UTILITY TERMINATION IN MASSACHUSETTS, CALIFORNIA, AND ILLINOIS. NCLC HAS ALSO BEEN AND CONTINUES TO BE ONE OF THE MOST PROMINENT VOICES FOR WATER AFFORDABILITY PROGRAMS AND ACCESS TO BROADBAND FOR ALL AMERICANS. WE ARE THRILLED THAT IN THE PAST YEAR CONGRESS HAS FUNDED THE FIRST FEDERAL ASSISTANCE PROGRAM TO HELP PEOPLE PAY THEIR WATER BILLS, AND SIGNIFICANTLY EXPANDED BROADBAND ASSISTANCE.BRIDGING THE DIGITAL DIVIDE & PRESERVING AFFORDABLE TELECOMMUNICATIONS: THE STIMULUS PACKAGE SIGNED INTO LAW ON DECEMBER 27, 2020 INCLUDED $3.2 BILLION TO HELP MILLIONS OF AMERICANS ACCESS THE INTERNET, AND IN MARCH 2021 THE AMERICAN RESCUE PLAN INCLUDED ANOTHER $7.6 BILLION FOR BROADBAND FOR SCHOOLS AND LIBRARIES TO HELP CLOSE THE HOMEWORK GAP FOR STUDENTS. NCLC AND ITS BROADBAND EQUITY PARTNERS VIEW THESE STEPS AS HISTORIC PROGRESS TOWARD THE GOAL OF REMEDYING THE DISPROPORTIONATE IMPACT OF DIGITAL INEQUITY AMONG LOW-INCOME COMMUNITIES, INCLUDING COMMUNITIES OF COLOR AND OTHERS HARDEST HIT BY THE COVID-19 PANDEMIC AND THE ENSUING ECONOMIC CRISIS.

PROTECTING FINANCIAL ASSETS: WIDESPREAD FORBEARANCE ON MORTGAGE PAYMENTS HAS PREVENTED MILLIONS OF HOMEOWNERS IN THE UNITED STATES FROM BEING DECLARED IN DEFAULT DURING THE PANDEMIC, BUT THEY ARE AT RISK OF LOSING THEIR HOMES ONCE THE FORBEARANCE EXPIRES. NCLC PROVIDED EXPERTISE AND RESOURCES THROUGHOUT 2021 DURING THE CREATION OF THE $10 BILLION HOMEOWNER ASSISTANCE FUND (HAF), CREATED BY CONGRESS IN EARLY 2021 AS PART OF THE $1.9 TRILLION AMERICAN RESCUE PLAN AND RESULTED IN A MAJOR STEP FORWARD IN PREVENTING A DISASTROUS LOSS OF HOMES.PREVENTING FORECLOSURES: NCLC PLAYED A MAJOR ROLE PROVIDING IN-DEPTH RESOURCES TO FRONTLINE LEGAL AID AND CONSUMER ATTORNEYS AND TO CONSUMERS, INCLUDING FACT SHEETS, ARTICLES, AND ISSUE BRIEFS TO PREVENT FORECLOSURES, AND CREATED A VIDEO EXPLAINER: CORONAVIRUS CRISIS: WHAT CONSUMERS NEED TO KNOW ABOUT MORTGAGE RELIEF. NCLC ALSO ORGANIZED A GROUP OF ATTORNEYS IN MULTIPLE STATES COORDINATING RESOURCES AND INFORMATION TO PROTECT HOMEOWNERS FROM COVID-RELATED FORECLOSURES. SIMULTANEOUSLY, WE LED SEVERAL KEY FEDERAL ADVOCACY EFFORTS TO IMPROVE FORECLOSURE PREVENTION OPTIONS AND EXPAND ACCESS TO DIRECT ASSISTANCE FOR STRUGGLING HOMEOWNERS. NCLC SUSTAINED MOMENTUM WITH THE FEDERAL HOUSING ADMINISTRATION (FHA) TO STRENGTHEN PROTECTIONS AGAINST FORECLOSURES, INCLUDING THE DEVELOPMENT OF SEVERAL NEW LOAN MODIFICATION OPTIONS. WE ALSO SUCCESSFULLY ADVOCATED FOR SUBSTANTIAL CHANGES TO A NEW RULE BY THE CONSUMER FINANCIAL PROTECTION BUREAU (CFPB) PROVIDING HOMEOWNERS WITH COVID HARDSHIPS MORE OPPORTUNITIES AND INFORMATION AS THEY EXIT PAYMENT FORBEARANCES AND FACE IMMINENT FORECLOSURES. FINALLY, WE LED A COALITION OF ORGANIZATIONS THAT SECURED $10 BILLION IN PRESIDENT BIDEN'S AMERICAN RESCUE PLAN, PASSED BY CONGRESS IN MARCH 2021, FOR THE HOMEOWNER ASSISTANCE FUND. NCLC CONTINUES TO WORK WITH THE U.S. TREASURY DEPARTMENT, STATES AND STATE ADVOCATES ON IMPLEMENTATION OF THE FUND.PREVENTING PREDATORY LENDING NCLC CONTINUED TO PLAY A LEADERSHIP ROLE IN CHALLENGING PREDATORY LENDING PRACTICES, INCLUDING EDUCATING DECISION MAKERS ABOUT NEW "FINTECH" LENDING PRODUCTS THAT SEEK TO EXPLOIT LOOPHOLES TO AVOID COMPLYING WITH FEDERAL AND STATE CONSUMER PROTECTION LAWS. NCLC CREATED AN INFORMATIONAL RENT-A-BANK WATCH LIST TO HIGHLIGHT BANKS THAT ARE ACTING AS FRONTS FOR HIGH-COST LENDERS. THIS ALLOWS THE LENDERS TO EVADE STATE INTEREST RATE CAPS. NCLC ALSO CREATED AN INFORMATION SHEET: STATE RATE CAPS FOR $500 AND $2,000 LOANS.