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Millions of struggling families need housing counseling now
In the economic fallout of the current pandemic, more than 20 million Americans are out of work. Black and Latino workers are experiencing disproportionate economic challenges, including an unemployment rate of 16.8 percent and 17.6 percent, respectively. American households are expected to face a wave of evictions and foreclosures even worse than they experienced in the last financial crisis. Coalition advocates wrote to Congress in support of the Coronavirus Housing Counseling Improvement Act, which expands access to housing counseling so that these individuals and families can get help in finding affordable ways to stay in their homes.

More than 100 non-profit groups support bill that would require corporations to disclose important data to address potential profit shifting
A coalition of more than 100 non-profit groups called on Reps. Waters and McHenry to consider country-by-country reporting in the Disclosure of Tax Havens and Offshoring Act (H.R. 5933). The bill would require large, publicly-traded corporations to disclose key financial information (e.g. profits, revenues, taxes, number of employees, etc.) on a country-by-country basis to better inform taxpayers, investors, policymakers, academics, and other stakeholders and ensure that we emerge from the COVID-19 pandemic on the path to sustainable and equitable economy.

Labor Department should withdraw policy that lets private equity loot retirement plans
Nineteen organizations and individuals that advocate on behalf of consumers, workers, investors and retirees have called on the Department of Labor (DOL) to withdraw its controversial policy statement opening the door to private equity investments in 401(k) plans. These investments are likely to saddle middle-class retirement savers with high costs and lock them into unnecessarily complex investments that underperform publicly available alternatives. The coalition called on DOL to withdraw the policy statement until it can conduct a more careful and balanced analysis of the potential risks and benefits of including a private equity component in retirement plan investments.

DOT’s proposed rules favor airlines over passengers
Consumer groups called the Department of Transportation’s (DOT) proposal to modify how it protects passengers from unfair and deceptive acts and practices in the air travel marketplace "fatally flawed” and urged the agency to abandon its rulemaking. Consumer advocates argue that the proposed rules, formulated at the behest of the airline lobby, would not benefit consumers. If adopted, they would give airlines even greater incentives to engage in the kinds of anti-passenger practices—like leaving passengers stuck on the tarmac for hours on end—that Congress intended the DOT to prevent.

Protect consumers from price gouging during a state of emergency
In a letter to the California state legislature, advocates urged support of Senate Bill 1196, which aims to combat price gouging in the state of California during a declared state of emergency. In the midst of the COVID-19 pandemic, California has seen countless examples of unscrupulous individuals using the crisis as an opportunity to turn a profit on essential goods and services. SB 1196 will tighten California law to assist law enforcement officials in prosecuting instances of price gouging that are committed by new sellers during an emergency.

Stop the debt trap by implementing stronger regulations on rent-to-own stores
With limited or no access to credit and savings, low-income consumers often turn to rent-to-own (RTO) stores for big-ticket items like appliances. RTO stores notoriously charge customers two-to-three times more than traditional stores for the same items, leading to more purchase defaults, capturing the consumer in a debt trap. Coalition members joined together in urging the Federal Trade Commission to do more to protect low-income communities from the predatory practices utilized by the $8.2 billion a year RTO industry.

HUD must do more to protect older reverse mortgage borrowers
Advocates sent a letter to the U.S. Department of Housing and Urban Development (HUD) seeking stronger protections for reverse mortgage borrowers in response to the COVID-19 pandemic. The agency announced a 60-day halt on foreclosures of all FHA-insured mortgages, but this timeframe falls short in light of projections of the long-term impact of this crisis.

Advocates call for automatic discharge of student loan debt for disabled borrowers
A coalition of more than 30 advocate groups asked Education Secretary Betsy DeVos to automatically erase the federal student loan debt of roughly 350,000 student borrowers with disabilities nationwide. Currently, the Department’s application process is so burdensome that most disabled borrowers never get the help they're entitled to under law, while many more are not even aware that they qualify for a loan discharge. In fact, over 60% of eligible borrowers identified have not applied for the relief. In the worst cases, the Department has gone as far as seizing disability benefits that many borrowers with disabilities depend on to survive, as a means to collect on defaulted federal student loans. These borrowers are due critical relief now.

Federal deregulation attempts increase barriers to affordable housing
All over the country, housing unaffordability has become a crisis. The number of households spending more than half of their income on housing payments has skyrocketed in the past decade. Almost 50% of renters are struggling with unaffordable rents, and the homeless population is rapidly growing in high cost areas. In response to this national crisis, the Department of Housing and Urban Development published a request for information to examine how regulations could be creating barriers to affordable housing. In response, advocates point out that it's not regulatory efforts, but moves to deregulate the housing and financial markets that are eroding and withdrawing crucial commonsense oversights, thereby increasing barriers to affordable housing.

Advocates urge CFPB to create strong protections for PACE borrowers
Property Assessed Clean Energy (PACE) programs offer loans for energy efficient home improvements, such as solar panels, HVAC systems, and energy efficient windows, along with more questionable items such as “cool coat paint.” PACE loans, offered through home improvement contractors, often in door-to-door sales, and secured by a property tax lien, are collected through a property tax assessment that takes priority over any existing mortgage. PACE programs must be authorized by state and local governments, but are privately run with little or no government oversight. Advocates encouraged the Consumer Financial Protection Bureau (CFPB) to use its authority to issue a rule that applies all of the Truth in Lending Act to the industry and to continue to research the PACE market in order to develop strong protections that curb widespread program abuse.

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