This article explains why earned wage payday loans, while growing rapidly, are unsuccessful in evading federal and state consumer lending laws, resulting in significant private remedies under TILA, the Military Lending Act, state credit laws, and state UDAP statutes. The article describes the companies involved, the nature of the loans, and five recent court decisions supporting company liability.
Important new rules go into effect on December 1 to protect homeowners who use chapter 13 bankruptcies to stave off foreclosures and keep themselves current on their mortgages. A new NCLC Digital Library article explains eight ways that the new rules protect such homeowners by giving them information needed to successfully complete a cure plan and emerge from chapter 13 without surprise, undisclosed fees, or payment amounts due.
The CFPB has issued an October 28 interpretive rule suggesting that the Fair Credit Reporting Act (FCRA) preempts the growing number of state laws limiting medical debt credit reporting. This article explains why that interpretation has limited effect and is seriously flawed. The article also explains the limits of FCRA preemption and provides suggestions to avoid preemption risks when drafting state laws.
This article advises homeowners on steps to take after natural disasters: addressing immediate needs; FEMA aid and other sources of help and grants; avoiding insurance, home repair, and municipal code problems; floodplain requirements; handling long-term financial difficulties; and preparing for the next natural disaster.
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