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.
- 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...
- H.R. 6139: Payday Lender Carve-out Will Undermine Consumer Financial Protection Bureau and States
Published: Aug 27 2012 Issue: Payday Loans
Carve-outs for payday lenders will undermine state protections and CFPB.
- Comment to CFPB: The financial exploitation of older Americans
Published: Aug 20 2012 Issue: Consumer Financial Protection Bureau
CRL told the CFPB of abusive financial practices against older Americans. More than 13 million older adults live on $21,800 a year or less. Further, the average credit card debt for these consumers...
- Comments on Enterprise Housing Goals
Published: Jul 31 2012 Issue: Mortgage Lending
The Center for Responsible Lending, Consumer Federation of America, and Empire Justice Center submitted comments to the Federal Housing Finance Agency on a proposed rule for the 2012-2014...
- CRL's Testimony: A National Payday Charter Is A Bad Idea
Published: Jul 24 2012 Issue: Car Title Loans, Consumer Financial Protection Bureau, Installment Loans, Payday Loans
Testimony of Kenneth W. Edwards Vice President of Federal Affairs, Center for Responsible Lending, before the House of Representatives Committee on Financial Services Subcommittee on Financial...
- 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.
- 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...
- 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...