CRL's staff includes attorneys, researchers, and policy analysts in North Carolina, Washington DC, and California who study and report on predatory lending matters and monitor legislative and regulatory activity in state capitols and in the US Congress. CRL is frequently asked to testify on lending issues before Congress, federal regulators, state legislatures or other government entities. Below is a list of links to our written testimonies.
- CRL Testimony to Senate Banking Committee : Preserve What Works, Reform What Needs Change
October 29, 2013
In testimony before the Senate Committee on Banking, Housing, and Urban Affairs, Eric Stein, CRL Senior Vice-President, reminded lawmakers that consumer concerns must not be lost in proposed housing finance reforms.
- Dodd-Frank Act Balances Access to Credit and Key Protections
June 18, 2013
Michael Calhoun, CRL President, testified before a House Financial Services Subcommittee on Dodd-Frank's impact on homeownership. He said that, as a whole, these rules expand access to credit while ensuring that loans are sustainable for borrowers.
- No Credit Crunch: The CFPB and Consumer Access to Credit
July 24, 2012
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 good for consumers and the safety and soundness of our consumer finance system. Testimony was before a subcommittee of the House Committee on Oversight and Government Reform.
- The Impact of Dodd-Frank's Home Mortgage Reforms
July 11, 2012
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 include the use of specific "bright-line" standards so that lenders and borrowers are clear on which loans qualify as QMs. He also made the case for allowing borrowers to pursue legal action if an alleged QM loan failed to meet the appropriate standards from the outset. This testimony was presented before the House of Representatives Committee on Financial Services - Subcommittee on Financial Institutions and Consumer Credit.
- Regulatory Compliance Costs and Small Financial Institutions
May 9, 2012
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 families as well as bank safety and soundness.
- Refinancing: Helping Responsible Homeowners Save Money
April 25, 2012
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 recommends expanding the Home Affordable Refinance Program (HARP) to prevent unnecessary foreclosures and boost economic recovery.
- Testimony: Enhanced Consumer Financial Protection After the Financial Crisis
July 19, 2011
Testimony of Mike Calhoun before Senate Banking Committee: Unsustainable lending pushed us into the financial crisis, and sustainable lending and responsible consumer financial services products are needed to restore and maintain economic health. An independent Consumer Financial Protection Bureau (CFPB), as enacted by the Dodd-Frank Act (DFA or Dodd-Frank), is critical to reestablishing these sustainable lending practices.
- Enhanced Consumer Financial Protection After the Financial Crisis
July 19, 2011
Unsustainable lending pushed us into the financial crisis, and sustainable lending and responsible consumer financial services products are needed to restore and maintain economic health. An independent Consumer Financial Protection Bureau (CFPB), as enacted by the Dodd-Frank Act (DFA or Dodd-Frank), is critical to reestablishing these sustainable lending practices.
- Widespread Abuse by Mortgage Servicers Hurts Homeowners, Investors, Taxpayers, Economy
July 7, 2011
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 told Congress today.
- Are There Government Barriers to the Housing Market Recovery?
February 16, 2011
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 all the tools at its disposal to bring foreclosures under control and restore stability in the housing market.
- Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing
November 18, 2010
Senior policy counsel Julia Gordon testifies before a House Financial Services subcommittee on robo-signing and how to use all available tools to address the foreclosure crisis.
- HAMP, Servicer Abuses, and Foreclosure Prevention Strategies
October 27, 2010
Julia Gordon, CRL Senior Policy Counsel, testifies before the Congressional Oversight Panel on HAMP, servicer abuses and foreclosure prevention.
- Testimony on Regulatory Reforms to the Community Reinvestment Act
September 9, 2010
Ellen Harnick testifies in a joint public hearing held in Atlanta, GA regarding regulatory reforms to the Community Reinvestment Act.
- Foreclosures Continue: What Needs to Change in the Government's Response?
February 25, 2010
Testimony on the government's response to continuing foreclosures by Julia Gordon before the U.S. House of Representatives Committee on Oversight and Government Reform Subcommittee on Domestic Policy.
- Reckless Lending and Toxic Products Caused the Foreclosure Crisis
January 13, 2010
Julia Gordon, CRL Sr. Policy Counsel, testifies before the Financial Crisis Inquiry Commission on the causes and effects of the foreclosure crisis and why we need more and better responses.
- The Private Sector and Government Response to the Mortgage Foreclosure Crisis
December 8, 2009
Julia Gordon, CRL Sr. Policy Counsel, testifies before the House Financial Services Committee on why we need a stronger, multi-pronged approach to stopping the mortgage foreclosure epidemic
- Current Trends in Foreclosure and What More Can Be Done To Prevent Them
July 28, 2009
In a hearing on "Current Trends in Foreclosure and What More Can Be Done to Prevent Them," CRL's Keith Ernst urged Congress to take several actions to address the flood of foreclosures and fix the broken mortgage market: Create the Consumer Financial Protection Agency; pass or encourage sensible lending rules in the future; ensure that current prevention efforts are as effective as possible; and lift the ban that now prohibits home loan modifications through the courts.
- Regulatory Restructuring: Enhancing Consumer Financial Products Regulation
June 24, 2009
Kathleen Keest, Senior Policy Counsel at CRL, testified before the House Financial Services Committee on CRL's support for a strong, state-of-the-art consumer protection agency for financial products -- provided that the agency is independent of the companies it regulates, and fully transparent and accountable to the public.
- H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009
April 23, 2009
Congress has an opportunity to prevent another mortgage fiasco by passing stronger protections on home lending.
- Examining the Making Home Affordable Program
March 19, 2009
Testimony of CRL Senior Policy Counsel Ellen Harnick before House Financial Services Subcomittee on Housing and Community Opportunity.