The National Consumer Law Center (NCLC) is proposing major changes to article 9 of the Universal Commercial Code (UCC) which would materially affect consumer lending and how repossessions are done. If states adopt this latest proposed revision of the UCC, it would dramatically change repossession and lending practices and increase the potential for law suits.
FOR IMMEDIATE RELEASE
July 14, 2016 – The National Consumer Law Center (http://www.nclc.org) is publishing a document promoting changes to the Uniform Commercial Code which would greatly effect the repossession process, sales, and delinquency balances. The NCLC are strong lobbyists in Washington and this has the potential to put huge burdens on the repossession industry…and to a greater degree, auto lenders.