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Press Releases

November 28, 2017
WASHINGTON, D.C. – Today, Judge Timothy J. Kelly of the U.S. District Court for the District of Columbia denied a request for a temporary restraining order to keep Office of Management and Budget (OMB) Director Mick Mulvaney from serving as Acting Director of the Consumer Financial Protection Bureau (CFPB). Center for Responsible Lending Senior Policy Counsel Melissa Stegman issued the following statement: Today's ruling is disappointing and a cause for concern.  Payday lenders and their allies in Congress, including then-Representative Mick Mulvaney, have consistently attempted...
November 27, 2017
WASHINGTON, D.C. - National civil rights groups are standing behind Leandra English, Deputy Director and Acting Director of the Consumer Financial Protection Bureau (CFPB), as the lawful Acting Director of the Consumer Bureau. Acting Director English filed a federal lawsuit last night against the Trump Administration challenging the unlawful appointment of Mick Mulvaney as head of the CFPB. The National Coalition for Asian Pacific American Community Development (National CAPACD), NAACP, National Urban League, UnidosUS, the National Fair Housing Alliance, Lawyers' Committee for Civil Rights...
November 27, 2017
WASHINGTON, D.C. – In case you missed it, Center for Responsible Lending (CRL) President Mike Calhoun was on CNN and NPR, calling out the unlawful attempt to name Mick Mulvaney as Acting Director of the Consumer Financial Protection Bureau (CFPB) and advocating for the appointment of a Director who is committed to protecting consumers. Watch the CNN segment Listen the NPR segment For more information, or to arrange an interview with a CRL spokesperson on this issue, please contact Matthew Kravitz at matthew.kravitz@responsiblelending.org or 202-349-1859.
November 26, 2017
WASHINGTON, D.C. – Center for Responsible Lending’s President Mike Calhoun released the following statement tonight after Leandra English, Deputy Director and Acting Director of the Consumer Financial Protection Bureau (CFPB), filed a federal lawsuit against the Trump Administration challenging the unlawful appointment of Mick Mulvaney as head of the CFPB: Instructions under the Dodd-Frank and Wall Street Reform and Consumer Protection Act are plain and simple--if the CFPB Director steps down, the Deputy Director assumes the role of Acting Director until the President nominates, and the...
November 24, 2017
WASHINGTON, D.C. – Tonight, President Trump unlawfully attempted to name Mick Mulvaney to serve as Acting Director of the Consumer Financial Protection Bureau (CFPB). Mulvaney currently serves as Director of the Office of Management and Budget. Center for Responsible Lending President Mike Calhoun issued the following statement: The President must follow his authority written in the in Dodd-Frank law and nominate a candidate who can be confirmed by the U.S. Senate to serve as the director of the CFPB. Until that plan is followed, Leandra English is the rightful Acting Director of the...
November 24, 2017
WASHINGTON, D.C. – Center for Responsible Lending (CRL) President Mike Calhoun released the following statement today after Richard Cordray tenured his resignation as Director of the Consumer Financial Protection Bureau (CFPB): We commend Richard Cordray’s years of public service and commitment to protect Americans from financial predators. As the CFPB’s first director, he brought accountability and transparency to consumer finance, and helped clean up Wall Street's mess after the 2008 financial crisis. The Bureau and its staff are strong because of Richard’s leadership--cracking down on...
November 21, 2017
Faith Leaders Hand Deliver Letter Signed by 230 Groups DURHAM, N.C. – As a federal agency re-opens the door to predatory payday lending for some banks, scores of groups representing a broad cross-section of Americans are saying “not so fast.” Advocates are mailing hard copies of an open letter to banks and regulators, and faith leaders are delivering the letter directly to bank branches, some where the congregations hold their accounts. The letter, which urges the banks to pledge not to start making payday loans, was coordinated by the Stop the Debt Trap campaign and is signed by 230 faith...
November 21, 2017
WASHINGTON, D.C. – The Senate Committee on Appropriations released a Financial Services and General Government Appropriations bill that would make an enormous policy change: it would eliminate the independent funding stream for the Consumer Financial Protection Bureau (CFPB). Congress should pass policy changes in the light of day, not as a toxic rider attached to a budget. Center for Responsible Lending (CRL) Director of Federal Advocacy Scott Astrada released the following statement: Financial predators are hoping to hitch a ride on a budget bill. Their rider would severely weaken...
November 16, 2017
Federal Legislation Would Open the Door for Triple-Digit APR Loans to Enter States with Interest Rate Caps WASHINGTON, D.C. – The House Financial Services Committee last night passed H.R. 3299, the so-called Madden bill, which would make it easier for payday lenders and other usurious lenders to use "rent-a-bank" schemes to charge distressed borrowers triple-digit interest rates that would otherwise violate state law. Among those threatened by this legislation and its Senate companion S. 1642 are more than 90 million Americans who live in states with interest-rate caps of 36% or lower on...
November 15, 2017
WASHINGTON, D.C. – Center for Responsible Lending President Mike Calhoun released the following statement today on Richard Cordray’s decision to step down as Director of the Consumer Financial Protection Bureau (CFPB) later this month: Director Richard Cordray has proven to be a tireless and effective public servant. Under his watch, the CFPB has cracked down on the tricks and traps of payday lenders, credit cards companies, debt collectors, and bad actors in the industry from taking advantage of distressed Americans. Through his effort, Director Cordray has worked to recover more...

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