CRL commends Chairman Dodd in crafting a financial reform bill that addresses the deceptive lending practices and regulatory failures that have harmed the economy and American families

A key federal regulator for years has let national banks engage in lending practices that the regulator itself admits harm consumers and lenders, according to two new reports from the Center for Responsible Lending.

The MBA reported that serious mortgage delinquencies—those at least 90 days past due or in foreclosure—remained at record levels in the fourth quarter of 2009.

CRL President, Mike Calhoun, says the financial companies that gambled with our economy should not be allowed to block financial reform.

In California, hundreds of so-called debt settlement outfits get paid by desperate consumers for simply claiming they will reduce or eliminate the consumers' debts. A proposed bill isn't the answer.

In comments filed today, the Center for Responsible Lending recommends that the Federal Reserve Board strengthen a proposal to ban routine kickbacks for steering borrowers into unnecessarily risky or expensive home loans.

We are very pleased the U.S. House of Representatives has taken an important step toward restoring our country’s financial stability by voting to pass the Wall Street Reform and Consumer Protection Act of 2009 (H.R. 4173). The bill would provide consumers with significant protections from the industry practices that dismantled our economy and those of countries around the world.

Congress must create the Consumer Financial Protection Agency proposed by the White House so it can stop bad practices like these before they spread

The latest tweak to the government's foreclosure prevention program highlights the continued failure of voluntary efforts to stop the epidemic of home losses.

The Mortgage Bankers Association (MBA) reported today that a record number of loans—1 in 7—is delinquent, up from 1 in 10 a year ago. But they completely ignore the role reckless lending has played in kick-starting and prolonging the foreclosure crisis.