CRL conducts in-depth research on the extent and impact of predatory lending, to provide useful information to consumers, community advocates, and policymakers alike. We also share our market and legal knowledge with advocates and policymakers across the nation interested in reforming lending practices.
- Testimony at the CFPB’s Hearing on Payday Lending (Nashville, TN)
Published: Mar 25 2014 Issue: Payday Loans
Oneshia Herring, legislative counsel at CRL, discusses three reasons why payday loans are an inherently defective product that violate any reasonable concept of fair and responsible lending. This...
- Department of Education Rulemaking to Define ‘Gainful Employment’
Published: Mar 12 2014 Issue: Student Loans
The US Department of Education has re-started a negotiated rulemaking process regarding eligibility of career education programs for federal financial aid. This is CRL's memo on areas for...
- Comment Letter to Senate Banking Committee on Housing Finance Reform Bill
Published: Feb 28 2014 Issue: Mortgage Lending
A 13-member coalition of civil rights, housing and legal advocates called upon the U.S. Senate Banking Committee to preserve equal access to mortgage credit for all qualified borrowers.
- New Reforms Promote Stability in the Mortgage Market, Protect Access to Credit
Published: Jan 14 2014 Issue: Mortgage Lending
CRL President Mike Calhoun testified before the House Financial Services Committee that CFPB’s rules strike the right balance of providing borrower protections while also ensuring access to credit.
- 2014 Brings New Rules to Mortgage Lending
Published: Jan 7 2014 Issue: Mortgage Lending
In 2014, new mortgage lending reforms go into effect. Finalized by the Consumer Financial Protection Bureau, the reforms respond to the abusive lending practices that triggered the nation’s...
- Comment on Forced Arbitration Agreements in College Federal Aid Applications
Published: Dec 18 2013 Issue: Student Loans
In reply to the Department of Education’s request for comments on forced arbitration clauses in student federal loans, CRL called for transparency and clear disclosure. Further, CRL urged that...
- Debt Settlement Firms Adopt "Attorney Model" to Evade State and Federal Rules
Published: Nov 7 2013 Issue: Debt Settlement
This paper discusses debt settlement firms’ increased use of affiliations with legal firms to circumvent state and federal restrictions on upfront fees and other unfair and deceptive practices.
- Civil Rights Groups to Federal Regulators: We Support Aligning Mortgage Rules and Oppose Down Payment Requirements
Published: Oct 31 2013 Issue: Mortgage Lending
A host of civil rights and fair housing groups joined with CRL in submitting comments to federal financial regulators and HUD.
- CRL Testimony to Senate Banking Committee : Preserve What Works, Reform What Needs Change
Published: Oct 29 2013 Issue: Mortgage Lending
In testimony before the Senate Committee on Banking, Housing, and Urban Affairs, Eric Stein, CRL Senior Vice-President, reminded lawmakers that consumer concerns must not be lost in proposed...
- Letter to Federal Regulators: Stop Illegal Payday Loans
Published: Oct 28 2013 Issue: Payday Loans
The National Consumer Law Center, Consumer Federation of America, Center for Responsible Lending and 26 other consumer and civil rights groups sent a letter to federal regulators urging stronger...
- Fixing What Went Wrong and Building on What Works in Housing Finance
Published: Oct 17 2013 Issue: Mortgage Lending
CRL proposes housing policy reforms for the GSEs.
- Civil Rights Leaders on Mortgages: Preserve Access and Low Down Payments
Published: Sep 12 2013 Issue: Mortgage Lending
- Consumer Financial Protection Bureau Offers Four Paths to Qualified Mortgage Status
Published: Sep 11 2013 Issue: Mortgage Lending
An overview of the Qualified Mortgage (QM) definition.
- Monitor Report: 643,000 Borrowers Received Over $51 billion in Benefits
Published: Sep 6 2013 Issue: Mortgage Lending
AG Mortgage Settlement report shows 643,000 borrowers benefitted from AG settlement.
- Government-Mandated Down Payment Standards Would Harm the Economy, Deny Homeownership to Credit-Worthy Families
Published: Aug 15 2013 Issue: Mortgage Lending
Government mandated down payments would deny homeownership opportunities.
- Comments to Department of Defense: Expanding Credit Protections for Service Members and Their Families
Published: Aug 1 2013 Issue: Overdraft Loans, Payday Loans
Although the Military Lending Act has resulted in significant improvements, Service members continue to be the target of predatory lenders. In 2012, members of the military filed 61,642 complaints...
- Testimony: Seniors Vulnerable to Predatory Payday Loans
Published: Jul 24 2013 Issue: Bank Payday Loans, Payday Loans
Rebecca Borné, senior policy counsel for CRL, testifies on the harms of payday loans and how seniors are particularly vulnerable. The Senate Special Committee on Aging held this hearing to examine...
- CRL Testimony: Prioritize Safe and Affordable Mortgage Access
Published: Jul 19 2013 Issue: Mortgage Lending
Michael Calhoun, CRL President, testified before a House Financial Services Committee hearing on housing finance reform and the future of homeownership.
- CRL to Regulators: Align Qualified Mortgage (QM) and Qualified Residential Mortgage (QRM) Rules
Published: Jun 28 2013 Issue: Mortgage Lending
As regulators move to define Qualified Residential Mortgages (QRMs), CRL urges the same standard that CFPB defined for Qualified Mortgages (QM).
- Dodd-Frank Act Balances Access to Credit and Key Protections
Published: Jun 18 2013 Issue: Mortgage Lending
Michael Calhoun, CRL President, testified before a House Financial Services Subcommittee on Dodd-Frank's impact on homeownership. He said that, as a whole, these rules expand access to credit while...