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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Oppose H.R. 527 the Small Business Regulatory Flexibility Improvements Act
This letter strongly urges the opposition of H.R. 527, the Small Business Regulatory Flexibility Improvements Act of 2015 (SBRFIA). SBRFIA expands the reach and scope of the Regulatory Flexibility Act and would increase unnecessary and lengthy regulatory delays, increase undue influence by regulated industries and encourage convoluted court challenges.
Issues and Outcomes Report: January to December 2013
View our infographic summary of consumer protections in 2013 Responsible financial products and services play an important role in the lives of Americans: helping families pay for goods and services, manage risk, borrow to build assets and save and invest for the future. However, predatory features of financial products and services can have devastating consequences. They can trap consumers in...
Visualizing the State of Lending
Download the Report As a supplement to our full research publications, these resources tell the story of our on-going State of Lending research series visually, through graphs, charts, maps, and video. Related chapters: Mortgages, Auto Loans, Credit Cards, Student Loans The Spillover Cost of Foreclosures by State The Three Scapegoats Your Next Car Loan: Avoid Paying Too Much Prepaid Cards...
2013 NC Legislative Wrap-Up
August 8, 2013 This legislative session was truly like no other in recent history. Many changes to existing laws were made, and certainly our laws protecting consumers from predatory lending were targeted. A stated objective of the 2013 legislature was to reduce regulation and revise North Carolina's business-related laws to be no more stringent than federal law. This, coupled with...
2013 Legislative Update
June 20, 2013 Learn about a pair of stalled payday lending bills, a bill to authorize predatory car title lending bill, a just signed consumer installment loan law that raises rates and fees, and a predatory mortgage lending bill in committee in our June 2013 NC legislative update. Payday bills stalled (SB 89/HB 875) Car title lending bill stalled (HB...
The State of Lending: America's Household Balance Sheet
This chapter in the State of Lending report series describes the overall financial status of U.S. households today--their income, spending, debts, and wealth. It tells the story of financial challenges that consumers have faced in the past decade, and how these have made Americans more vulnerable to predatory lending. It also describes how household financial health is central to our...
State of Lending: Foreword by Sheila Bair
State of Lending 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. It also describes the regulatory and legislative actions needed to halt the predatory lending practices that exist today and prevent the rise of new abuses. Read the Foreword Return...
“Magic” Money a Mere Illusion: Refund Anticipation Loans & the Earned Income Tax Credit in West Virginia
This latest report by the West Virginia Center on Budget and Policy found that in 2007 nearly $13 million were lost by working West Virginians through refund anticipation loans. Out of the nearly 77,000 West Virginians that used a RAL in 2007, nearly 60 percent of them were recipients of the Earned Income Tax Credit, a federal program designed to...