Consumer groups fear OCC proposed guidance may legitimize and facilitate the spread of payday lending by national banks, and banks would continue abusive overdraft practices—harming bank customers, undermining state payday loan laws, and weakening the long-term safety and soundness of financial institutions.

CRL offers comments to regulators on proposed risk retention rules, urging sensible rules that do not include mandated down payment requirements.

A new CRL report describes how banks are adding predatory payday loans to their arsenal of inappropriate loan products. These loans drain cash from low-income Americans.

A new poll reveals that American voters broadly support the 2010 Dodd-Frank Wall Street Reform law, by a 5 to 1 margin, and across all political parties.

A new poll reveals that American voters broadly support the 2010 Dodd-Frank Wall Street Reform law, by a 5 to 1 margin, and across all political parties.

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.

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.

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 from the Bureau summarizes in one place what they’ve been up to.

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.

New credit card rules help consumers by making credit card pricing significantly clearer, new CRL research finds. New rules lower costs by spurring competition, making it harder for issuers to manipulate or arbitrarily raise prices.

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 misleading marketing, rather than clear and accurate information from banks.

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 practices.

New CRL research tracking borrowers over two years dispels the notion that a payday loan is a short-term debt. Although marketed and advertised as a quick solution to an occasional financial shortfall, most borrowers remained indebted for the 24 months that followed their initial loan.

CRL's new research reveals banks and other loan servicers have a strong foreclosure bias that cheats investors. Banks push for foreclosures even when investors benefit more with a loan mod.

CRL joins key housing groups in urging federal regulators to avoid setting arbitrary mortgage downpayment requirements.

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.” In fact, low down payment home loans have been a significant—and safe—part of the mortgage finance system for decades, bearing little resemblance to subprime and other alternative mortgage products that crashed our economy. And responsible low down payment loans are also a key to the recovery of our nation’s housing market and economy

The National Consumer Law Center, along with Consumer Federation of America, 2011 annual report about the RAL industry.

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 financial marketplace is fair and safe for everyone. Therefore, Congress should promote a strong, engaged Consumer Financial Protection Bureau.

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.

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.