WASHINGTON – In a significant development for consumer advocacy and financial regulation, Enova International, one of the nation’s most prominent nonbank lenders, has officially withdrawn its controversial application to acquire Grasshopper Bank. The decision marks a major roadblock for the “rent-a-bank” business model, in which predatory lenders attempt to leverage national bank charters to bypass…
By Barry Coleman, National Foundation for Credit Counseling (NFCC) Published: July 17, 2026 (Originally published March 2022) Main Facts Millions of student loan borrowers across the United States continue to grapple with complex repayment options, mounting financial stress, and the daily anxiety of debt management. Recent data highlights the severity of this ongoing economic challenge:…
WASHINGTON – In a significant victory for consumer advocacy groups and state regulators, Enova International, a major player in the online lending sector, has officially withdrawn its application to acquire Grasshopper Bank. The move concludes a high-stakes regulatory battle that pitted the financial technology firm against a coalition of consumer watchdogs who feared the deal…
WASHINGTON, D.C. — September 15, 2026 — In a significant development for consumer protection advocates, Enova International, one of the nation’s most prominent online lenders, has officially withdrawn its application to acquire Grasshopper Bank. The move signals a major setback for the "fintech-to-bank" pipeline that has long been criticized for attempting to bypass state-level consumer…
WASHINGTON, D.C. — September 15, 2026 — In a significant victory for consumer advocacy groups and state regulators, Enova International—a major player in the online non-bank lending sector—has officially withdrawn its controversial application to acquire Grasshopper Bank. The move effectively halts a high-stakes bid that critics argued would have served as a "Trojan horse," allowing…
August 27, 2026 — For years, the dream of affordable housing in Washington state has been slowly eroded by a practice known in legal circles as "drip pricing." Prospective tenants, already reeling from record-high base rents, have found themselves facing an ever-expanding gauntlet of mandatory surcharges: amenity fees for access to common areas, package handling…
WASHINGTON — As American households grapple with the persistent pressures of inflation, rising rent, and stagnant wage growth, the House Financial Services Committee is poised to deliberate on a package of four legislative measures that critics argue could fundamentally undermine consumer protections. Scheduled for a markup session this Tuesday, the bills have ignited a firestorm…
WASHINGTON — June 22, 2026 — In a landmark showdown that pits the future of digital finance against decades of consumer protection laws, a massive coalition of over 60 advocacy groups has issued a formal demand to the Federal Reserve Board of Governors. The coalition, representing a broad spectrum of civil rights organizations, labor unions,…
WASHINGTON, D.C. — In a massive, coordinated display of grassroots mobilization, over 100 consumer advocates representing organizations from 30 states and the District of Columbia converged on Capitol Hill on June 2, 2026. The event, dubbed “Consumer Advocacy Day,” serves as a direct challenge to current federal financial policy, with advocates demanding a swift reversal…
WASHINGTON — On Tuesday, June 2, 2026, the halls of Congress were transformed into a forum for grassroots accountability as more than 100 consumer advocates from 30 states and the District of Columbia converged on the nation’s capital. The event, dubbed "Consumer Advocacy Day," represents a significant escalation in the ongoing struggle to protect American…
