NACA calls on the Consumer Financial Protection Bureau to keep the overdraft "opt-in" rule and implement further protections against overdraft fees.
NACA joins with organizational partners commenting on the Consumer Financial Protection Bureau's review of the overdraft opt-in rule. The opt-in rule should be retained and further protections must be implemented.
NACA sent a letter in response to the U.S. Senate Banking Committee's effort to gather information on the looming issues on data privacy and protection facing all American consumers. Corporations’ voluntary data protection and privacy practices are insufficient to protect consumers from harm, provide very little to ensure accountability when harm occurs, and appear to lack tools to prevent future damage. It is also clear that consumers have little or no control over their personal data, including the use and security of their information.
NACA joins with other consumer, civil rights, and labor organizations to express support for the “Consumers First Act,” introduced by Rep. Maxine Water, chairwoman of the U.S. House Financial Services Committee. The bill puts consumers at the forefront of the Consumer Financial Protection Bureau (“CFPB”)’s work. The Consumers First Act refocuses the CFPB on its mission to protect consumers and restores the structures it needs to fight discrimination in lending.
NACA publishes report on the issue of taxing consumers on attorneys' fees awarded under consumer protection statutes.
NACA and other organizations sent a letter to the Senate Commerce Committee regarding the lack of consumer representatives testifying during the hearing "Examining Safeguards for Consumer Data Privacy."
"The bureau must reject dangerous proposals in this RFI process, regarding External Engagements and other key agency functions such as Investigations, Enforcement, Rulemaking and Complaint Response, that would sabotage its work and mission to ensure consumers are treated fairly by powerful financial institutions. The bureau must continue its record of seeking public input and taking action to hold bad actors accountable for wrongdoing and harm they cause."
NACA submitted comments in response to the Consumer Financial Protection Bureau's Request for Information on its Enforcement Processes. NACA is concerned that the CFPB has issued this and other public Requests for Information as an opening to revamp its internal processes and hinder activities meant to protect consumers and the financial markets.