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.
- No Credit Crunch: The CFPB and Consumer Access to Credit
Published: Jul 24 2012 Issue: Consumer Financial Protection Bureau, Mortgage Lending
Mike Calhoun, CRL President, testified that lack of regulation led to the foreclosure crisis. The Dodd-Frank reforms and CFPB are important reforms to prevent a future housing crisis, and will be...
- CRL Tells CFPB: Prepaid Cards Lack Consumer Protections
Published: Jul 24 2012 Issue: Credit Cards, Prepaid Cards
The CFPB should prohibit overdraft and credit features on prepaid cards.
- New Poll Shows Continued Broad Support for Financial Reforms and Consumer Protections
Published: Jul 18 2012 Issue: Consumer Financial Protection Bureau
- CRL Remarks at CFPB Credit Reporting Field Hearing
Published: Jul 16 2012 Issue: Consumer Financial Protection Bureau
Remarks by Bill Sermons, Research Director Center for Responsible Lending before the Credit Reporting Field Hearing convened by the Consumer Financial Protection Bureau in Detroit, Michigan on July...
- The Impact of Dodd-Frank's Home Mortgage Reforms
Published: Jul 11 2012 Issue: Mortgage Lending
CRL Senior Vice President Eric Stein emphasized the importance of defining "Qualified Mortgage" broadly to avoid shutting out creditworthy borrowers from the mortgage market. He recommended that QM...
- Comments on Qualified Mortgages to the Consumer Financial Protection Bureau
Published: Jul 9 2012 Issue: Consumer Financial Protection Bureau, Mortgage Lending
The Center for Responsible Lending, Consumer Federation of America and The Leadership Conference on Civil and Human Rights responded to the CFPB's request for comments on qualified mortgages. Much...
- Comments to CFPB on Overdraft Practices
Published: Jul 6 2012 Issue: Consumer Financial Protection Bureau, Overdraft Loans
CRL joined with CFA and NCLC to provide the CFPB (Consumer Financial Protection Bureau) with documentation of bank overdraft practices and their impact on consumers. The CFPB should stop banks from...
- Oppose HR 1909--Don’t Undermine State, Federal Consumer Protections
Published: Jul 5 2012 Issue: Payday Loans
HR 1909 will move oversight of non-bank lenders from the CFPB to the OCC, allow the OCC to charter nonbank lenders like those that offer 400% payday loans, and preempt stronger state laws nationwide.
- Expanding, Streamlining Mortgage Refinances
Published: Jun 27 2012 Issue: Mortgage Lending
The Boxer-Menendez bill to expand refinances offers a bipartisan opportunity to help homeowners and boost the economy. The bill would more than double the number of homeowners who could refinance...
- FDIC Promises Investigation of Bank Payday Lending
Published: May 31 2012 Issue: Bank Payday Loans, Payday Loans
The FDIC has promised that to make investigation of bank payday lending a priority investigation. In response to a letter submitted by 250 advocates, Acting Chairman Martin Gruenberg said the...
- Are prepaid credit cards helping or hurting consumers?
Published: May 25 2012 Issue: Consumer Financial Protection Bureau, Credit Cards, Prepaid Cards
Martin Eakes remarks on prepaid cards before a CFPB field hearing.
- Regulatory Compliance Costs and Small Financial Institutions
Published: May 9 2012 Issue: Consumer Financial Protection Bureau, Mortgage Lending
CRL President Michael Calhoun testifies before a House Financial Services subcommittee on the benefits of strong lending protections. Financial reform, including the CFPB, is good for American...
- Refinancing: Helping Responsible Homeowners Save Money
Published: Apr 25 2012 Issue: Mortgage Lending
Interest rates are at historic lows, but many homeowners who could benefit from these low rates have not refinanced their higher-rate mortgage. In this testimony, CRL President Michael Calhoun...
- Comments to the Consumer Financial Protection Bureau on Payday Lending Abuses
Published: Apr 23 2012 Issue: Consumer Financial Protection Bureau, Payday Loans
Comments to the Consumer Financial Protection Bureau on payday lending abuses on behalf of several organizations concerned about the documented abuses of payday lenders.
- Dealer Markup of Interest Rates is an Unfair and Deceptive Practice
Published: Mar 30 2012 Issue: Auto Financing
The Federal Trade Commission has the authority to deem dealer markups of interest rates as an unfair and deceptive practice, according to this comment letter filed by the Center for Responsible...
- Summary of National Mortgage Settlement
Published: Mar 14 2012 Issue: Mortgage Lending
Forty-nine state attorneys generals and two government agencies have reached a $25 billion agreement with the nation's five largest mortgage servicers to address mortgage loan servicing and...
- Letter to Bank Regulators: Stop Bank Payday Lending
Published: Feb 22 2012 Issue: Payday Loans
Two hundred and fifty national, state and local organizations and individual advocates have asked bank regulators to stop banks from making predatory payday loans, which carry triple-digit annual...
- National mortgage Settlement is a game-changer
Published: Feb 17 2012 Issue: Mortgage Lending
A lawsuit highlights possible foreclosure fraud, as loan servicing employees admit they don’t actually review foreclosure documents; instead they do "robo-signing.
- Comments to the FTC on Motor Vehicle Roundtables
Published: Feb 1 2012 Issue: Auto Financing
The Center for Responsible Lending, Consumer Federation of America, Consumers for Auto Reliability and Safety, the National Association of Consumer Advocates, the National Consumer Law Center, and...
- America's Top Consumer Cop Reports to Congress
Published: Jan 31 2012 Issue: Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) delivered its first agency’s first report to Congress January 31, 2012