Press Releases & Commentary
- High Court to Hear Disparate Impact Case
January 21, 2015
On Wednesday, January 21, the Supreme Court of the United States will hear Texas Department of Housing and Community Affairs v. The Inclusive Community Projects, Inc. – a case that will ask the Court to decide whether disparate impact claims are recognizable under the Fair Housing Act. . Nikitra Bailey, senior vice president of the Center for Responsible Lending and slated to speak at a rally on the day of arguments, offers a statement.
- Homeownership, College Access and Protections for Consumers Key to Security of all Americans
January 20, 2015
In response to the President's speech tonight, the Center for Responsible Lending (CRL) has experts available to comment on areas mentioned in the State of the Union address including, mortgage access, student lending and the importance of new rules to rein in reckless practices in the financial sector.
- Report: Trends in Subprime Auto Lending Similar to Pre-Meltdown Mortgage Market
January 13, 2015
A new report from the Center for Responsible Lending (CRL) titled “Reckless Driving: The Implications of Recent Subprime Auto Finance Growth” highlights trends in the $870 billion auto lending sector, particularly loans to consumers with below prime credit. Growth in the market raises concerns that subprime auto lending practices are leading to conditions that risk causing serious problems in the larger auto market. The report also questions whether auto loans really are performing better than mortgages did in the period before the mortgage meltdown, as the auto lending industry suggests, or whether increases in delinquency and default rates signal larger problems in the market.
- Obama Moves to Increase Access to Responsible and Sustainable Homeownership
January 7, 2015
On Thursday, January 8, 2015, President Obama will formally announce plans in Phoenix, AZ to reduce the cost of mortgages insured by the Federal Housing Administration – a government agency that secures mortgages primarily for lower and moderate-income borrowers, especially families of color.
- Media Availability: Experts Available to Discuss Housing Recovery, Housing and Mortgage Policies
January 7, 2015
President Obama is slated to discuss housing recovery and related policies on Thursday, January 8, 2015 from Central High School in Phoenix, Arizona.
- DoD Must Close Loopholes that Allow Predatory Lenders to Target Soldiers and Their Families
December 24, 2014
Four major consumer groups have submitted comment today urging the Department of Defense to protect the men and women who serve the country by creating strong, new regulations implementing the Military Lending Act (MLA). The Center for Responsible Lending, Consumer Federation of America, Consumer Action, the National Association of Consumer Advocates, the National Consumer Law Center (on behalf of its low income clients), and U.S. PIRG joined together to urge the Defense Department to strengthen the MLA rule.
- Don’t Be Grinched by Payday Lenders: Rep. Zoe Lofgren, SVCF, Coalition Against Payday Predators Warn Consumers Off Predatory Loans at San Jose Event
December 19, 2014
At a press conference today in front of a payday lending store in downtown San Jose, Representative Zoe Lofgren, Emmett Carson, the CEO of Silicon Valley Community Foundation, and Kyra Kazantzis of the Coalition Against Payday Predators (CAPP) warned consumers not to be grinched by payday lenders during the holiday season. Each spoke at the event about the harm caused to borrowers and in California communities by payday lending, alternatives for consumers and efforts to rein in payday lending abuses and end the "debt trap."
- Sale of Corinthian College Exposes Students to Potential Fraud, Abuse
December 19, 2014
The Department of Education and other regulators are currently reviewing a planned sale of 56 Corinthian campuses to ECMC Group, Inc., a federal student loan debt collector. This sale would convert the Corinthian campuses into nonprofits, exempting them from some federal regulations applying to for-profit colleges.
- CFPB Report Showing 43M in US Have Medical Debt Highlights Glaring Need for Accuracy in Debt Reporting, Collection
December 11, 2014
Today, at a Consumer Financial Protection Bureau (CFPB) field hearing in Oklahoma City, Center for Responsible Lending (CRL) Policy Counsel Lisa Stifler detailed growing abuses in medical debt collection that can take advantage of financially-distressed consumers and unfairly strip families of wealth.
- US Senators Call for Stronger Protections for Military Families against Predatory Payday Lending
November 25, 2014
Senators Reed, Durbin lead a group of 40 in supporting the DoD’s plan to strengthen Military Lending Act