Consumers League of New Jersey advocates for robust consumer protection laws and regulations in Trenton and Washington DC.
Two members of the CLNJ Board of Directors have served as members of the Federal Reserve Board’s Consumer Advisory Council. Some of CLNJ's ideas in the Federal Reserve Board CAC became law. One was a statute prohibiting “rate rise surprise” in home equity second mortgages. Another was the CAC debate about check-hold availability. Congress agreed that after a check is deposited into your bank, consumers should not have to wait three weeks to access their money. Congress passed the Delayed Funds Availability law, which now limits most check holds to two days for checks of less than $5,000.
Four CLNJ Board members have served on N.J. Supreme Court Committees, suggesting improvements to the Court Rules. The Supreme Court adopted our idea to tell employers that federal law protects wages from garnishment if the employee’s net pay is less than $435 for two weeks.