Press Releases & Opinion
- CRL-California Statement on Gov. Brown's May Revise
May 15, 2012
Funds specifically collected to help California homeowners access National Mortgage Settlement programs should be used for that purpose--not for reducing the state's budget deficit.
- Predatory Credit Card Practices Hurt Banks’ Bottom Line
May 8, 2012
New CRL research shows that losses on credit cards in the current downturn mounted faster at banks engaging in unfair, deceptive practices. High-cost penalty fees and interest rates didn’t mitigate risk—as credit card issuers claimed—but instead were the risk that caused consumers to default.
- “Yo-Yo” Car-Dealer Scams Rig the Game, Push Buyers into Bad Loans
April 4, 2012
Car dealers often target consumers with poor or no credit for yo-yo scams, a new CRL report demonstrates.
- End predatory bank payday lending now, 250 groups tell bank regulators
February 22, 2012
Two hundred and fifty national, state and local organizations and individual advocates have asked bank regulators to stop banks from making predatory payday loans, which carry triple-digit annual interest rates of as much as 400 percent.
- CRL Receives 2012 MacArthur Award for Creative and Effective Institutions
February 16, 2012
Today the John D. and Catherine T. MacArthur Foundation named the Center for Responsible Lending (CRL) as a recipient of the MacArthur Award for Creative and Effective Institutions. The award recognizes CRL’s decade of work fighting predatory lending practices nationally, and provides the group with a major grant to support future efforts. CRL is one of only 15 organizations from six countries to be recognized today with this award.
- AG Settlement Ends Robo-Signing, Provides Model
February 9, 2012
The foreclosure settlement announced today will help build a stronger housing market while keeping more people in their homes. But while a significant step, much more work is required.
- CRL Response to Wall Street Journal Editorial (1/31/12) on Payday Lending
February 7, 2012
Your editorial, “Bashing Payday Lenders; Obama targets another industry that serves low-income Americans,” is wrong on every point.
- AG Settlement: Not Perfect, but Significant Reform of Mortgage Servicing
January 24, 2012
Based on what we’ve heard, the settlement between major banks and the states’ Attorneys General (AGs), the federal Department of Housing and Urban Development, and the Department of Justice would represent an important step forward in addressing foreclosure abuses.
- Mandated Down Payments would Block Creditworthy Home Buyers
January 18, 2012
As federal regulators consider setting down-payment standards on new mortgages, a new study shows such rules could push 60 percent of creditworthy borrowers into high-cost loans or out of the market altogether.
- New CFPB Director is Good News for Consumers, Firms, & US Economy
January 4, 2012
Today's appointment of Richard Cordray as director of the Consumer Financial Protection Bureau is welcome news. Finally, the agency can
run at full speed.
