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. 

Filter Results

Amici Brief from Center for Responsible Lending, Self-Help, and NALCAB in Support of the CFPB

Amici Brief from Center for Responsible Lending, Self-Help, and NALCAB in Support of the CFPB

The CFPB plays an integral role in the nation’s financial system. The Bureau’s work ensures that the system functions in a manner that is responsive to the interests of all market participants—consumers, large financial entities, and smaller institutions like Amici. Congress’s chosen method of funding the Bureau underpins the Bureau’s ability to do this important work, free from the outsized...
More
Amicus Brief
Consumer Finance

Coalition Opposes Dangerous Package of Bills Titled the “CFPB Transparency and Accountability Reform Act”

Coalition Opposes Dangerous Package of Bills Titled the “CFPB Transparency and Accountability Reform Act”

From the introduction to the letter: On behalf of the undersigned national, state, and local organizations, we urge you to oppose the dangerous package of bills titled the “CFPB Transparency and Accountability Reform Act” that threaten the Consumer Financial Protection Bureau’s (CFPB) funding, organizational structure, and its ability to monitor the marketplace by impeding their rulemaking functions. This package would...
More
Letters to Congress
Consumer Finance

CRL Testimony for "Consumer Financial Protection Bureau: Ripe for Reform" Hearing

CRL Testimony for "Consumer Financial Protection Bureau: Ripe for Reform" Hearing

The Center for Responsible Lending submitted a letter for the record on the House Committee on Financial Services’ Subcommittee on Financial Institutions and Monetary Policy hearing entitled, “Consumer Financial Protection Bureau: Ripe for Reform.” The letter details the importance of the CFPB and draws on new data from Republican polling firm Chesapeake Beach Consulting and Democratic firm Lake Research Partners...
More
Testimony
Consumer Finance

Poll Results on Bipartisan Support of the Ongoing Mission of the CFPB to Regulate the Financial Industry and Protect Consumers

Poll Results on Bipartisan Support of the Ongoing Mission of the CFPB to Regulate the Financial Industry and Protect Consumers

New data from the bipartisan polling team Lake Research Partners and Chesapeake Beach Consultingi shows that voters across the political spectrum overwhelmingly support the ongoing mission of the Consumer Financial Protection Bureau (CFPB) to regulate the financial industry and protect consumers. The new findings are consistent with over 10 years of opinion research demonstrating strong public support for the agency’s...
More
Research
Consumer Finance

CFPB Should Protect Consumers From “Junk Fees”

CFPB Should Protect Consumers From “Junk Fees”

The Center for Responsible Lending (CRL), along with Americans for Financial Reform (AFR), Consumer Federation of America (CFA), the National Community Reinvestment Coalition (NCRC), and National Consumer Law Center (NCLC) (on behalf of its low-income clients) submitted a comment letter to the Consumer Financial Protection Bureau (CFPB) in response to their call for public input on how to save Americans...
More
Comment Letter
Consumer Finance

Credit Bureaus Must Take Action To Correct Credit Report Problems for Transgender and Nonbinary Consumers

Credit Bureaus Must Take Action To Correct Credit Report Problems for Transgender and Nonbinary Consumers

145 organizations sent a letter to the “Big Three” credit bureaus (Equifax, Experian, and Transunion) and to the Consumer Data Industry Association (CDIA), the trade association that represents them, urging them to take needed actions to correct credit report problems for transgender and nonbinary consumers.
More
Letters to Congress
Consumer Finance

Data Point: California Appeals Court Ruling Affirms Regulator’s Authority to Curb Bail Industry Abuses

Data Point: California Appeals Court Ruling Affirms Regulator’s Authority to Curb Bail Industry Abuses

In a precedent-setting ruling, the California Court of Appeals at the end of 2021 handed down a decision affirming a broad preliminary injunction against a bail bond company called Bad Boys Bail Bonds. The court prohibited the company from collecting on $38 million in debt from cosigners who borrowed money to gain pre-trial release for their loved ones. The order...
More
Policy & Legislation
Consumer Finance

Comment to the California DFPI on Proposed Rulemaking to Require Registration and Reporting for Wage-Based Advances

Comment to the California DFPI on Proposed Rulemaking to Require Registration and Reporting for Wage-Based Advances

The National Consumer Law Center, on behalf of its low-income clients, the Center for Responsible Lending, and the Consumer Federation of California submitted comments to the Department of Financial Protection and Innovation’s (DFPI) proposed regulation governing the registration and data reporting requirements for certain industries. These comments focused on the proposed registration of providers of wage-based advance providers. In these...
More
Comment Letter
Consumer Finance

Testimony: Buy Now, Pay More Later? Investigating Risks and Benefits of BNPL and Other Emerging Fintech Cash Flow Products

Testimony: Buy Now, Pay More Later? Investigating Risks and Benefits of BNPL and Other Emerging Fintech Cash Flow Products

On November 2, 2021, Marisabel Torres, director of California Policy, CRL testified before the House Task Force on Financial Technology. Her written testimony as well as her oral remarks are available for download. Watch the live hearing:
More
Testimony
Consumer Finance Payday and Other Small Dollar Loans
Displaying 21 - 30 of 122