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.
- Car Title Lenders Ignore Ability to Repay
Published: May 13 2014 Issue: Car Title Loans
Car title loans, like payday loans, are marketed as a quick financial fix, but lead to long-term debt and carry 300% annual interest rates. A typical borrower pays twice as much in interest and...
- Letter to OCC: Improving Documentation When Banks Sell Debt
Published: May 7 2014 Issue: Debt Collection
CRL and several other consumer and civil rights organizations commend the Office of the Comptroller of the Currency for issuing best practices on banks’ sales of charged-off consumer debt. They...
- Comments to CFPB: Eliminate Harmful Practices in Debt Buying and Debt Collection
Published: May 7 2014 Issue: Debt Collection
Responding to an Advance Notice of Proposed Rulemaking, CRL addresses harmful practices that have become common in the debt buying and third-party debt collection industries. Debt buyers typically...
- 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.
- Comment on Proposed Regulations for For-Profit and Occupational Schools
Published: Jan 22 2014 Issue: Student Loans
CRL recently expressed support for the Massachusetts’ Attorney General proposed regulations for occupational and for-profit schools.
- 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...