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.
- Building the CFPB: A Progress Report
Published: Jul 18 2011 Issue: Consumer Financial Protection Bureau
On July 21, 2011, the CFPB will be a cop on the beat to enforce the laws on credit cards, mortgages, student loans, prepaid cards, and other kinds of financial products and services. This report...
- Widespread Abuse by Mortgage Servicers Hurts Homeowners, Investors, Taxpayers, Economy
Published: Jul 7 2011 Issue: Mortgage Lending
Mortgages servicers should be required to give every mortgage holder “a good-faith review of foreclosure alternatives” before taking steps to take his or her home, CRL president Michael Calhoun...
- Comments to the OCC: We Oppose Preempting State Consumer Protections on Mortgages, Credit Cards and Other Banking Products
Published: Jun 28 2011 Issue: Credit Cards, Mortgage Lending
CRL joins several groups in opposing proposed rules that would continue the OCC's broad preemption of state laws governing mortgages, credit cards, bank accounts and other banking products.
- Overdraft Opt-In Savings
Published: Jun 23 2011 Issue: Overdraft Loans
Better Overdraft Policies Put Money Back In Consumers' Pockets: Regulators Must Stop Remaining Overdraft Abuses
- Proposed QRM Definition Harms Creditworthy Borrowers While Frustrating Housing Recovery
Published: Jun 23 2011 Issue: Mortgage Lending
The Qualified Residential Mortgage (QRM) should be redesigned to align with Congressional intent: encourage sound lending behaviors that reduce future defaults without harming responsible borrowers...
- Locked Out of a Home: The Impact of a 10% Down Payment Requirement on Prospective Home Buyers
Published: Jun 22 2011 Issue: Mortgage Lending
CRL's analysis shows that a 10% down payment on QRM mortgages would make homeownership out of reach for many creditworthy American families.
- Maryland Repossession Law--Amicus Brief In Support of Apellant Donna Epps
Published: Apr 28 2011 Issue: Debt Settlement, Auto Financing
CRL and the National Consumer Law Center filed an amicus brief supporting appellant Donna Epps in regards to the improper repossession of the appellant's vehicle.
- Banks Collect Overdraft Opt-Ins Through Misleading Marketing
Published: Apr 26 2011 Issue: Overdraft Loans
A Center for Responsible Lending survey indicates that most consumers do not want high-cost overdraft coverage for their checking accounts, and that opt-ins are largely based on aggressive and...
- Joint Statement: Proposed Down Payment Rules Harm Creditworthy Borrowers
Published: Apr 15 2011 Issue: Mortgage Lending
CRL joins mortgage bankers, Realtors, home builders and other housing groups in explaining how high down payments would make homeownership more expensive or out of reach for millions of Americans.
- Auto Lending Abuses in Dealer-Financed Loans
Published: Apr 6 2011 Issue: Auto Financing
Predatory practices in auto financing cost consumers billions of dollars every year. Finding a good deal is no longer based on the quality of the car or the creditworthiness of the customer, but...
- Civil Rights Letter on GSE Reform
Published: Apr 6 2011 Issue: Mortgage Lending
CRL joins civil rights groups in asking Congress to take a comprehensive approach to GSE reform that addresses lending disparities and underserved borrowers.
- Banking Regulators Should Withdraw Consent Orders on Illegal Servicing
Published: Apr 6 2011 Issue: Mortgage Lending
CRL joins more than 50 national organizations in urging federal banking regulators to withdraw consent orders that allow mortgage servicers to escape any serious consequences for illegal business...
- Federal Reserve Mortgage Lending Rules - Amicus Brief from CRL and NCLC Opposing TRO and Preliminary Injunction
Published: Apr 4 2011 Issue: Mortgage Lending
CRL and the National Consumer Law Center filed an amicus brief supporting the Federal Reserve's opposition to a TRO and preliminary injunction that would prevent new mortgage rules from going into...
- Joint Letter to Regulators Against High-Downpayment Requirements
Published: Mar 16 2011 Issue: Mortgage Lending
CRL joins key housing groups in urging federal regulators to avoid setting arbitrary mortgage downpayment requirements.
- Don't Mandate Large Down Payments on Home Loans
Published: Mar 1 2011 Issue: Mortgage Lending
Recent proposals call for requiring prospective homeowners to make a 10-20 percent down payment when purchasing a home. This is seen as “getting back to the way mortgages were made in the 1980s.” ...
- Are There Government Barriers to the Housing Market Recovery?
Published: Feb 16 2011 Issue: Mortgage Lending
CRL testifies that the biggest barrier to housing recovery is continuing foreclosures that could be stopped. Mortgage servicers are foreclosing unnecessarily, and the government has not yet used...
- Consumer Financial Protection Agency will Help American Families and our Economy
Published: Feb 7 2011 Issue: Consumer Financial Protection Bureau
Consumer spending comprises 70% of the U.S. economy, so restoring consumer confidence and demand for products is vital to creating jobs. This is more likely to happen if consumers know that the...
- Wall Street, Not Fannie Mae and Freddie Mac, Led the Toxic Mortgage Market
Published: Jan 26 2011 Issue: Mortgage Lending
Fannie Mae and Freddie Mac were prohibited from buying subprime mortgages. Five key facts showing why we can't blame the foreclosure crisis on Fannie and Freddie.
- Joint Letter to Regulators on Elements of "Qualified Residential Mortgages"
Published: Jan 25 2011 Issue: Mortgage Lending
A diverse group of national civil rights, labor and consumer organizations writes regulators to share their views with respect to the regulation of securitizers of residential mortgage loans.
- Joint Letter to Regulators Urging a Broader Definition of "Qualified Residential Mortgages."
Published: Jan 14 2011 Issue: Mortgage Lending
CRL and other advocates join mortgage industry leaders in urging regulators to carefully consider how they define mortgages that will be exempt from certain rules. An overly narrow definition could...