Many people are surprised to learn that some of the most common lending abuses are perfectly legal. For example, in many states payday lenders are welcome to trap vulnerable families in debt that comes with 400% interest. Mortgage brokers are allowed to take kickbacks for making home loans more expensive than necessary Banks have no obligation to disclose 1,000% interest on overdraft loans... and the list goes on.
The best way to stop predatory lending is to legally ban abusive practices so that all families have access to fair and ethical financing. The Center for Responsible Lending monitors the progress of proposed anti-predatory lending reforms on the local, state and federal levels, and we offer policy and technical assistance to advocates and policymakers across the country.
In Congress
Congress Passes Rate Cap to Protect Military from Predatory Lenders
On Sept 30, a conference committee approved the Talent-Nelson amendment to the Defense Authorization Bill, capping interest rates on loans to service members at 36 percent. More >
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In the States
State Laws Are Working
North Carolina, Rhode Island, Tennessee, and Ohio are the most recent states to pass laws to fight predatory mortgage lending.
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Take Action
Support The Consumer Overdraft Protection Fair Practices Act
H.R. 946 would protect consumers from abusive overdraft loan programs -- while preserving occasional courtesy overdrafts. More >
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More Featured Content
In the Courts
CRL files amicus curiae ("friend of the court") briefs when important predatory lending issues are pending before the courts.
Regulators and Government-Sponsored Entities
Comment letters and analysis provided by CRL to regulatory agencies and GSEs on lending issues.
CRL Testimony
Expert written testimony provided to Congressional committees and state legislatures.
Policy Recommendations by Issue
Mortgage Lending | Payday Lending | Overdraft Loans
Car Title Loans | Credit Cards | Refund Anticipation Loans
