Press Releases & Commentary
- Needed Protections for Retirement Savings Coming
February 26, 2015
This week President Obama directed the Department of Labor to protect families from “conflicted” retirement counsel provided by financial advisors. The Department will kick off a rulemaking process requiring all retirement advisors to abide by a "fiduciary," or trust standard.
- Equifax Report Gives Incomplete Picture of Troubling Subprime Auto Lending Practices
February 20, 2015
Equifax Report Gives Incomplete Picture of Troubling Subprime Auto Lending Practices
- POLL: Strong Bipartisan Support for Reining in Abusive Payday Lenders
February 19, 2015
Voters Offer Overwhelming Backing for New Rules, Protections
- Mike Calhoun Testifies Before Senate Banking Committee on Regulations for Community Banks and Credit Unions
February 10, 2015
Calhoun discusses the importance of responsible financial regulations in providing crucial consumer protections - and leveling the playing field for all financial institutions, especially smaller community banks and credit unions.
- Some Good News for Students from the Sale of Corinthian Colleges to ECMC
February 4, 2015
Students receive $480 million in private student loan relief and protection from mandatory arbitration – but concerns remain
- 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.