Press Releases & Commentary
- Watt Confirmation Puts Housing Finance Market on the Right Path
December 10, 2013
We commend the U.S. Senate for confirming Representative Mel Watt as Director of the Federal Housing Finance Agency.
- FDIC and OCC Finalize Crackdown on Bank Payday Lending
November 21, 2013
Good news for banking customers: Today the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) finalized guidance that effectively directs the banks they supervise to end abusive practices inherent in payday lending.
- CRL Statement on CFPB Action Against Cash America
November 20, 2013
For many years, we have warned that payday loans are a defective product designed to trap consumers in debt. Today’s Consumer Financial Protection Bureau (CFPB) enforcement action against Cash America—one of the largest payday lenders in the U.S.—shows multiple harms to consumers that go beyond the inherent abuses of the product.
- Debt Settlement Programs May Leave Consumers Worse Off
November 19, 2013
Debt settlement programs too often are not the solution they are marketed to be, according to new CRL research.
- Federal Trade Commission Protects For-Profit College Students in New Guidance
November 12, 2013
The Center for Responsible Lending applauds the Federal Trade Commission for its tough new guidance against deceptive practices by vocational schools.
- Twenty Consumer And Community Groups Oppose HB 3569 Allowing "Unlimited Fees" To Be Imposed On Massachusetts Consumers By For-profit Debt Relief Firms
November 8, 2013
Quietly and unexpectedly, the Massachusetts House passed HB 3569 via a voice vote on Wednesday. Yesterday, nearly two dozen consumer protection experts and community groups working to stop predatory lending in Massachusetts issued a major sign-on letter raising concerns about HB 3569 advancing further in the State legislature.
- CRL Statement on Representative Watt’s Nomination to Lead Housing Agency
October 31, 2013
CRL remains a strong supporter of Congressman Watt to head the Federal Housing Finance Agency.
- New Remittance Rules Bring Clarity and More Consumer Protections
October 28, 2013
Starting today, U.S. consumers sending money abroad will have more information on the fees and other terms of their remittance transfers, along with added protections against unfair or deceptive practices. These changes come as a result of rules published by the Consumer Financial Protection Bureau (CFPB).
- Federal Regulators Urged to Crack Down on Illegal Payday Loans
October 24, 2013
Consumer and civil rights groups are asking for action to stop illegal payday lending. In a letter to key federal regulators, the National Consumer Law Center, Consumer Federation of America, the Center for Responsible Lending and 26 other groups thanked the agencies for their efforts to date and pushed for stronger measures to stop illegal payments from being taken out of consumers’ bank accounts.
- Momentum Builds Against All Types of Payday Loans
October 4, 2013
Even as payday lenders attempt to defend their defective product, a growing number of actions by federal and state regulators are cracking down on their predatory practices.