Press Releases & Commentary
- Federal Trade Commission takes Strong Action against For-Profit School Targeting Service Men and Women
May 28, 2015
Earlier this week, the Federal Trade Commission announced an enforcement action against the for-profit trade school Ashworth College. The federal agency charged the Georgia-based online college with misrepresenting their programs, leaving students with educations that could not lead to proper credentials or careers.
- Senate Bill Would Undermine Critical Post-Crisis Lending Rules
May 19, 2015
Bill attacks safe mortgage standards and exempts the largest banks from complying with key consumer protections
- New Department of Education Proposed Rule Will Protect Student Loan Funds by Stopping Banks and College from Teaming Up Against Students
May 15, 2015
The Department of Education today announced it would issue a strong proposed Cash Management rule. The rule would regulate the way colleges can enter into marketing agreements with banks and prepaid card issuers who wish to access their student populations. It would ban overdraft and point-of-sale fees on some accounts, and require that all accounts be in the “best interests” of students.
- Seven Ideas for a Fair Student Loan Servicing System
May 14, 2015
As the CFPB requests feedback on student loan servicing, CRL offers seven key ideas for the protection and safety of student loan borrowers
- CRL's Wilson Joins Panel on Predatory Finance
May 8, 2015
On Monday, May 11, 2015, Mitria Wilson, CRL vice president for government affairs, joined a congressional forum examining how mainstream financial service providers were not fully meeting the needs of many in the middle class – and many who aspire to it – for basic banking services like check cashing services and small dollar loans.
- House Committee on Armed Services Strikes Language to Delay Consumer Protections for Service Members
April 30, 2015
- Senate Confirms Loretta Lynch as Next US Attorney General
April 23, 2015
- Analysis: Federal, State Investigations of Debt Collectors Reveal Widespread Abuses
April 21, 2015
According to a new Center for Responsible Lending (CRL) analysis, federal and state regulator investigations into debt buyers and debt collectors have revealed a widespread pattern of abuses prevalent within the industry that should be addressed by lawmakers. As a result of recent investigations, debt collectors have been forced to pay tens of millions of dollars in fines for multiple counts of illegal activity. The report comes as several state legislatures are considering legislation to put in place new rules-of-the-road for debt collectors to protect consumers.
- Noel Poyo to Join CRL Board of Directors
April 17, 2015
The Center for Responsible Lending (CRL) today announced the addition of Noel A. Poyo to its Board of Directors. Noel is the Executive Director of NALCAB - National Association for Latino Community Asset Builders (NALCAB), based in San Antonio, TX.
- Labor Department Proposes Crucial Protections for Retirement Savings
April 14, 2015
The US Department of Labor proposed a rule that will prevent brokers and retirement advisors from offering “conflicted” financial advice to American consumers.