Press Releases & Commentary

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  • CFPB Unveils Changes to the Home Mortgage Disclosure Act
    July 24, 2014
    Today, the Consumer Financial Protection Bureau released a proposed rule to improve the Home Mortgage Disclosure Act (HMDA). In response Center for Responsible Lending president Mike Calhoun comments.
  • Americans Agree: Wall Street Regulation Still Needs to be Tougher
    July 18, 2014
    Nearly five years after the financial crisis, a new national poll shows continued bipartisan support for tough regulation of the financial industry and its products and services, along with a pervasive sense that more needs to be done.
  • Report: Consumer Interest, Federal Agencies Moved Consumer Protections Forward
    July 18, 2014
    2013 was a milestone year for consumer protections, according to a new report by the Center for Responsible Lending. Agency action, advocacy, and public interest around consumer finance all played a critical role in enhancing and expanding legal consumer protections.
  • Citigroup to Pay $7 Billion for Subprime Mortgage Scams
    July 15, 2014
    Today, the US Department of Justice announced a $7 billion settlement with Citigroup; the financial institution will pay a record-setting $4 billion penalty for misleading investors about securities that included toxic mortgages.
  • CFPB Finds ACE Cash Express Used Abusive, Illegal Tactics
    July 10, 2014
    Today, the Consumer Financial Protection Bureau (CFPB) took action against the Texas-based financial services company ACE Cash Express.
  • Debt Settlement Programs Increase Financial Risks to Vulnerable Consumers
    June 30, 2014
    A new report from the Center for Responsible Lending (CRL) finds that the debt settlement remains a risky strategy for debt reduction – and often leaves consumers more financially vulnerable.
  • Abuses, Improvements in Student Lending Take Center Stage in Harkin Bill
    June 25, 2014
    The Center for Responsible Lending applauds Senator Harkin for his commitment to higher education and making substantive reforms protecting students as consumers of financial products and services.
  • Operation Choke Point Protects American Businesses, Consumers
    June 24, 2014
    On Tuesday, the Senate will consider an amendment to the Commerce-Justice-Science Appropriations bill that would eliminate funding for a Department of Justice program called “Operation Chokepoint.” Center for Responsible Lending president Mike Calhoun responds: It’s clear that the mythology that Operation Chokepoint detractors have been marketing has reached our nation’s lawmakers and legislators.
  • Senator Warren’s Bank of Students Emergency Loan Refinancing Act
    June 11, 2014
    This week, the Senate will vote on Senator Elizabeth Warren’s Bank of Students Emergency Loan Refinancing Act, which would allow borrowers to refinance student loans at lower rates. Representatives Miller and Tierney have also introduced a companion bill in the House.
  • President Obama Acts to Ease Student Loan Burdens
    June 10, 2014
    Yesterday, President Barack Obama held a White House briefing and signed a Presidential Memorandum calling for new refinancing options, expanding access to income-based repayment, better outreach to distressed borrowers, and more accountability for student loan servicers.