NACA joins a coalition of consumer groups and one international remittance provider on a letter to the Consumer Financial Protection Bureau urging action on hidden fees in the remittance market.
"With its awkward growth stage out of the way, banks and other consumer finance firms will have to be on guard for robust CFPB enforcement and supervision no matter which party is in power, said Christine Hines, the legislative director at the National Association of Consumer Advocates.
NACA joined a group of consumer, community, housing, small business, and other public interest organizations to submit a comment in response to a Request for Information on financial institutions' use of artificial intelligence. The comment highlights the fair lending implications of artificial intelligence and how regulators can address them.
"However, there remains a 'long way to go' in terms of financial inclusion of minorities, according to Ira Rheingold, an Executive Director for the National Association of Consumer Advocates. Minority communities still need to be treated better in terms of pricing of financial products, he noted.
For Immediate Release
CFPB Proposal Will Help Vulnerable Tenants Combat Aggressive Rent Collections, Evictions
Legal Reader, Biden Nominates Rohit Chopra to Head CFPB.
"Christine Hines, legislative director for the National Association of Consumer Advocates, told NBC News that the CFPB’s regulatory powers and purview declined under Trump and Kraninger.
NACA joins student loan and student borrower advocacy groups on a letter to the U.S. Senate Committee on Banking, Housing and Urban Affairs in support of Federal Trade Commisioner Rohit Chopra's nomination to be Director of the Consumer Financial Protection Bureau. Commissioner Chopra previously served as the CFPB's first student loan ombudsman.
NACA joined 137 other consumer, civil rights, community, housing, labor, small business, and other public interest organizations on a letter to the Senate in support of Federal Trade Commissioner Rohit Chopra's nomination to be Director of the Consumer Financial Protection Bureau.