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.
- State Actions Still Needed to Prevent Unnecessary Foreclosures
Published: Mar 4 2013 Issue: Mortgage Lending
States are in a strong position to prevent unnecessary foreclosures, stabilize local housing markets and protect homeowners from mortgage servicing abuses. Through practical enhancements to the...
- How Payday Lending by Banks Violates Safety & Soundness Standards
Published: Feb 28 2013 Issue: Bank Payday Loans, Payday Loans
Banks that do payday lending (a.k.a. "Direct Deposit Advances") are engaging in risky behavior. This legal brief offers legal precedents and shows why banking regulators responsible for monitoring...
- New York Times Article on Banks Aiding Payday Loans: There's Even More to the Story
Published: Feb 26 2013 Issue: Bank Payday Loans, Payday Loans
On February 23, the New York Times published an article describing how some banks enable Internet payday lending. In this brief, CRL provides additional legal context to supplement that article....
- CRL Comment to CFPB on Ability to Repay Standards under the Truth in Lending Act (Regulation Z)
Published: Feb 25 2013 Issue: Mortgage Lending
CRL and allies comment on CFPB proposal that addresses two issues critical to the future of safe, sustainable, and affordable access to mortgage credit. First, it considers how to define...
- CRL Response to CoreLogic Analysis of Qualified Mortgage (QM) Standards
Published: Feb 20 2013 Issue: Mortgage Lending
CRL identifies some problems with CoreLogic's QM analysis of the percent of mortgage loans that would not meet QM standards
- CRL tells CFPB the CARD Act Works, Encourages Risk-based Pricing
Published: Feb 19 2013 Issue: Credit Cards
Comments submitted by the Center for Responsible Lending to the Consumer Financial Protection Bureau in response to the Request for Information Regarding Credit Card Market. The CARD Act has made...
- CRL Comments to CFPB 0n Proposed Remittance Transfer Rule
Published: Jan 29 2013 Issue: Consumer Financial Protection Bureau
Comments submitted by CRL and National Council of La Raza concerning the proposed revision of theConsumer Financial Protection Bureau to its final rulemaking onremittance transfers under the...
- Qualified Mortgage Rulemaking: Protecting Borrowers from the Next Lending Crisis
Published: Jan 10 2013 Issue: Mortgage Lending
The Dodd‐Frank Wall Street Reform and Consumer Protection Act requires lenders to determine whether borrowers can repay a mortgage before that transaction takes place -- by making loans that meet a...
- U.S. Senators ask Regulators to Stop Bank Payday Lending
Published: Jan 7 2013 Issue: Bank Payday Loans, Payday Loans
Five U.S. Senators have asked the OCC, the FDIC and the Federal Reserve to stop the banks under their respective jurisdictions from making predatory payday loans. At least four big banks have...
- CRL Comments on Proposed Rules for NCUA Payday Alternatives Loan Program
Published: Nov 30 2012 Issue: Bank Payday Loans, Payday Loans
CRL urges the NCUA to structure their Payday Alternatives Loan (PAL) program to reflect the broad range of alternatives, to prevent the program from operating like a series of high-cost payday...
- Congress: Extend Mortgage Forgiveness Debt Relief Act
Published: Nov 29 2012 Issue: Mortgage Lending
Center for Responsible lending joined with Financial Services Roundtable and Housing Policy Council to ask Congress to extend the Mortgage Forgiveness Debt Relief Act.
- CRL and NCLC Comments on Wells Fargo Payday Lending and CRA Examination
Published: Nov 29 2012 Issue: Bank Payday Loans, Payday Loans
Wells Fargo's direct engagement in payday lending should have a significant negative impact on their upcoming Community Reinvestment Act evaluation.
- CRL Comments To the Consumer Financial Protection Bureau RE: Truth in Lending Act (Regulation Z) and Loan Originator Compensation
Published: Oct 16 2012 Issue: Mortgage Lending
CRL affirms that limits on loan originator compensation contained in the Dodd-Frank Wall Street Reform and Consumer Protection Act and in Regulation Z are important consumer protections that...
- Making Mortgage Servicing More Effective: Comments to the CFPB
Published: Oct 9 2012 Issue: Mortgage Lending
In comments submitted to the Consumer Financial Protection Bureau, CRL makes a number of recommendations to help ensure loan servicers give distressed mortgages a timely, efficient and...
- The Future of Homeownership
Published: Sep 21 2012 Issue: Mortgage Lending
After years of steady progress, the homeownership rate in America has seen its biggest drop since the Great Depression. Today we have an opportunity to return to a stable lending environment with...
- CRL Comments to the Consumer Financial Protection Bureau on RESPA and TILA (Regulations X and Z)
Published: Sep 7 2012 Issue: Mortgage Lending
CRL offers supports the Bureau's consumer protection proposal for mortgage rules and disclosures for high-cost (HOEPA) loans. But it urges CFPB to be vigilant about evasions of HOEPA and to adopt...
- A Government-Mandated 10% Down Payment: Bad for Families, the Housing Market and the Economy
Published: Aug 31 2012 Issue: Mortgage Lending
Decades of lending have shown that low down payment lending can be successful. Excluding millions of good borrowers from the mainstream mortgage market would be a serious mistake.
- Qualified Residential Mortgages: Down Payment Rules Threaten Home Buyers—and the Economy
Published: Aug 31 2012 Issue: Mortgage Lending
The housing market of the future can drive economic growth without shutting out responsible home buyers. Find reports, data and other resources on Qualified Residential Mortgages.
- Letter to Regulators on Down Payments (QRM Requirements)
Published: Aug 30 2012 Issue: Mortgage Lending
CRL and six other organizations submit comments to regulators explaining why government-mandated down payments would be damaging to lower- and middle-income families and the housing market as a whole.
- "Qualified Residential Mortgages" -- the Negative Impact of a Government-Mandated 10 Percent Down Payment
Published: Aug 29 2012 Issue: Mortgage Lending
On August 29, 2012, CRL and several other organizations submitted a letter to federal and financial regulators opposing a government-mandated down payment requirement as part of the pending...