Consumer Finance

CRL monitors developments across the consumer finance sector and acts to protect people’s pocketbooks from financial misconduct so families can build financial stability. This includes advocating for enforcement of laws banning discrimination based on race, national origin, sex, and other protected characteristics. CRL also fights to defend the Consumer Financial Protection Bureau, a crucial government watchdog that was established in the wake of the 2008 Financial Crisis to stop predatory practices. We support the development of policy and regulatory infrastructure needed to ensure an equitable green lending marketplace for all consumers. 

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Don't Give Corporations an "Ignorance of the Law" Defense

Don't Give Corporations an "Ignorance of the Law" Defense

The 40 undersigned organizations oppose inclusion in any criminal justice reform package of "mens rea" (state of mind) provisions that would make it harder for prosecutors to criminally prosecute companies and corporate executives that engage in criminal wrongdoing. Specifically, there are various mens rea proposals, including mens rea legislation proposed in the Senate, that are premised on the belief that...
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Letters to Congress
Consumer Finance

Oppose H.R. 712 Sunshine for Regulatory Decrees and Settlements Act of 2015

Oppose H.R. 712 Sunshine for Regulatory Decrees and Settlements Act of 2015

On behalf of our millions of members and supporters nationwide, these 45 groups urge the opposition of the so-called "Sunshine for Regulatory Decrees and Settlements Act of 2015" (H.R. 712), which would undermine citizen enforcement of our laws and impede the resolution of consumer protection, anti-discrimination, environmental protection, and other important cases before our federal courts. H.R. 712 targets consent...
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Letters to Congress
Consumer Finance

Oppose Appropriations Bills that Contain Inappropriate and Ideological Policy Riders

Oppose Appropriations Bills that Contain Inappropriate and Ideological Policy Riders

The organizations represented on this sign-on letter asked President Obama to oppose any appropriations bill that contains inappropriate and ideological policy riders. With the passage of the framework bill for funding the government, has turned to how to allot the monies and what may be attached. Appropriations bills have been used before to undermine essential safeguards through "policy riders" –...
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Letters to Congress
Consumer Finance

North Carolina Legislative Update October 1, 2015

North Carolina Legislative Update October 1, 2015

The 2015 NC General Assembly adjourned yesterday, months after we first expected them to wrap-up their session. They will reconvene for the short session on April 25, 2016. Because of your calls and letters, three very dangerous bills did not pass: Senate Bill 681, which would have legalized 80 to 125% loans, never even got a committee hearing, House Bill...
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Bill Law
Consumer Finance Mortgage Lending

Expanding Access to Credit Through Online Marketplace Lending

Expanding Access to Credit Through Online Marketplace Lending

This comment was filed in response to the Department of the Treasury’s request for information on marketplace lending. Our history of advocacy for fair lending practices, and against unfair ones, is the lens through which we focus these comments, where we emphasize: Online marketplace loans must comply with applicable state law Underwriting for ability-to-repay, based on income and expenses, should...
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Comment Letter
Consumer Finance

North Carolina Legislative Update September 2015

North Carolina Legislative Update September 2015

The 2015 NC General Assembly adjourned yesterday, months after we first expected them to wrap-up their session. They will reconvene for the short session on April 25, 2016. Because of your calls and letters, three very dangerous bills did not pass: Senate Bill 681, which would have legalized 80 to 125% loans, never even got a committee hearing, House Bill...
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Bill Law
Consumer Finance Payday and Other Small Dollar Loans

North Carolina Legislative Update August 12, 2015

North Carolina Legislative Update August 12, 2015

See details below about 2015 NC General Assembly bills: Senate budget bill would repeal State Fair Housing Act Bill to legalize 80 to 125% loans still stalled Bill to roll back debt collection protections also stalled Ratified bill reduces protections against harassing calls Wage garnishment put into study committee bill Bills to reduce protections against mortgage broker abuses have not...
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Bill Law
Consumer Finance

The State of Lending in America and Its Impact on U.S. Households

The State of Lending in America and Its Impact on U.S. Households

State of Lending provides an across-the-board survey of financial products that Americans use to handle everyday transactions, buy homes and automobiles, and build savings and wealth. The report outlines predatory lending practices in various fields of consumer lending, and explains why protecting fair, affordable access to credit is vital for both consumers and the U.S. economy. The report also describes...
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Research
Consumer Finance

The State of Lending: The Cumulative Costs of Predatory Practices

The State of Lending: The Cumulative Costs of Predatory Practices

In this final chapter of The State of Lending in America and its Impact on U.S. Households series, we demonstrate the cumulative high costs of lending abuses, discuss lessons learned from efforts to address predatory lending, and suggest steps for further action. This chapter comprises the following sections: Lending Abuses and Their Costs describes how various types of lending abuses...
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Research
Consumer Finance

Issues and Outcomes Report: January to December 2014

Issues and Outcomes Report: January to December 2014

In a new report, the Center for Responsible Lending – along with Americans for Financial Reform – examines the impact of advocacy efforts of policy and regulation. Download a summary of the full report. The report take stock of both gains (actions that support or defend consumer protections) and losses (actions that jeopardize or reduce consumer protections) – specifically in...
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Research
Consumer Finance
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