Press Releases & Commentary
- CFPB Research Affirms Payday Debt Trap
March 25, 2014
New research released today by the Consumer Financial Protection Bureau (CFPB) on payday lending affirms what CRL has long found about the inherent defects of payday lending and shows that payday loans create a debt trap that makes borrowers worse off.
- Johnson-Crapo Does Not Provide Credit Access for Communities of Color
March 21, 2014
The new Senate proposal to reform the housing finance system would needlessly make mortgages more expensive and less available, announced civil rights groups today.
- Gainful Employment Rule Gains Little for Students
March 14, 2014
The Department of Education’s proposed “gainful employment” rule is a step forward but falls short of protecting consumers from unaffordable debt created by predatory educational programs at for-profit colleges, according to the Center for Responsible Lending.
- Fannie Mae, Freddie Mac Reform Must Serve the Whole Market
March 12, 2014
Senate Banking Committee Chairman Tim Johnson and Ranking Member Senator Mike Crapo announced yesterday a bipartisan agreement on a plan to reform the housing finance system.
- Center for Responsible Lending Applauds Bank of America for Action on Overdraft Fees
March 11, 2014
The Center for Responsible Lending (CRL) applauds Bank of America for taking another important step that prevents costly overdraft fees for consumers.
- Center for Responsible Lending Applauds CFPB Action Against ITT Tech
February 28, 2014
Experts at the Center for Responsible Lending applauded the CFPB for their aggressive action on the for-profit university ITT Tech.
- Keep the American Dream Alive
January 29, 2014
During the annual State of the Union address, the President rightly called for housing finance reform that keeps the American Dream of homeownership alive for this and future generations.
- Negotiation Doesn’t Help on Dealer Car Loans for African Americans and Latinos
January 23, 2014
African Americans and Latinos pay higher interest rates on dealer-financed car loans than white buyers, even though people of color report more attempts to negotiate a better deal.
- Wells Fargo, US Bank, and Fifth Third Discontinue Payday Loan Products
January 17, 2014
More good news: Wells Fargo, US Bank, and Fifth Third announced that they will discontinue their 225-300% annualized-interest-rate payday loan products.
- Regions Bank Discontinues Debt-Trap Payday Loans
January 15, 2014
Good news for consumers: This morning Regions Bank announced it is discontinuing its payday loan product—loans with triple-digit interest rates.