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

Comment on Request for Information on the Equal Credit Opportunity Act and Regulation B

Comment on Request for Information on the Equal Credit Opportunity Act and Regulation B

Our comment discusses ECOA’s purpose, the importance of disparate impact theory, issues around artificial intelligence and machine learning models, special purpose credit programs, preemption, and small business lending. Additionally, CRL signed on to a detailed letter from the Americans for Financial Reform (AFR) Language Access Taskforce regarding the challenges in serving limited English proficient consumers.
More
Comment Letter
Consumer Finance Mortgage Lending

An Inclusive Economy for All: A 100-Day Agenda for the New Administration

An Inclusive Economy for All: A 100-Day Agenda for the New Administration

Ten years after the Great Recession, the current economic contraction is again hitting Black and Brown communities and lower-wage workers the hardest – many of whom have never recovered. This crisis is worsening long-standing and growing racial and economic inequities at the very moment of national reckoning with the historic need for their redress. Too often, predatory financial services and...
More
Policy & Legislation
Consumer Finance

SCOTUS: Economic Opportunity and Consumer Protections at Risk

SCOTUS: Economic Opportunity and Consumer Protections at Risk

Opportunity in America has never been evenly distributed, but the gains made over the last 100 years are at risk if a conservative Justice is added to the Supreme Court. Just like the many social issues already being covered in the wake of President Trump’s Supreme Court nomination, the nine justices who fill the seats of America’s highest court will...
More
Policy & Legislation
Consumer Finance

Polling Memo: Voters Support Strong Consumer Financial Protections and Tough Regulation of Wall Street

Polling Memo: Voters Support Strong Consumer Financial Protections and Tough Regulation of Wall Street

Ten years after passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, with the country again facing an economic crisis, new polling data from Lake Research Partners, commissioned by the Center for Responsible Lending and Americans for Financial Reform shows that voters across all political parties are broadly and intensely supportive of strong consumer financial protections and of...
More
Research
Consumer Finance Debt Collection & Settlement Overdraft Fees Student Loans Payday and Other Small Dollar Loans

Financial Implications of the Criminal Legal System: Policy Recommendations during COVID-19

Financial Implications of the Criminal Legal System: Policy Recommendations during COVID-19

Prior to the COVID-19 crisis, court fines and fees, and other monetary sanctions overly burdened young people and adults involved in the criminal legal system with debt from pre-trial through post-release and beyond. A few months into the crisis, we are seeing that Black and Brown communities are disproportionately facing economic challenges. This is reflected in national unemployment data, where...
More
Policy & Legislation
Consumer Finance

400+ Civil Rights Organizations Urge Congressional Action on Police Violence

400+ Civil Rights Organizations Urge Congressional Action on Police Violence

CRL joined with more than 400 organizations to call on Congress to pass meaningful police reform legislation: Abusive police practices coupled with devastating state-sanctioned violence have exacted systemic brutality and fatality upon Black people since our nation’s founding. The current protests across our country are not new. They are in response to a long cycle of lawlessness against Black people...
More
Letters to Congress
Consumer Finance

Comment on Consumer Financial Protection Bureau's RFI to Assist the Taskforce on Federal Consumer Financial Law Taskforce

Comment on Consumer Financial Protection Bureau's RFI to Assist the Taskforce on Federal Consumer Financial Law Taskforce

This comment includes examples that are intended to be illustrative of the kinds of issues confronting low-to-middle-income households and communities of color attempting to navigate the consumer finance system.
More
Comment Letter
Consumer Finance

COVID-19-Related Resources

COVID-19-Related Resources

CRL is working to monitor the unfolding developments of the COVID-19 pandemic and its financial and economic effects on LMI communities and communities of color. As the response to the crisis continues, CRL is advocating for strong consumer protections and financial relief for the consumers, workers and small businesses that are always among the hardest hit by any national emergency...
More
Policy & Legislation
Consumer Finance

Joint Letter: Making the Paycheck Protection Program Work for Underserved Small Businesses

Joint Letter: Making the Paycheck Protection Program Work for Underserved Small Businesses

Nearly forty consumer and civil rights organizations call on the Trump Administration and the Congress to work together and take the following steps to ensure access to the Paycheck Protection Program for underserved businesses and sole proprietors. Set aside $10 billion for use ONLY by Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), to make this funding available...
More
Letters to Congress
Consumer Finance

COVID-19 Crisis Requires Comprehensive Response to Protect Financial Security, CARES Act Falls Short

COVID-19 Crisis Requires Comprehensive Response to Protect Financial Security, CARES Act Falls Short

H.R. 748, the Coronavirus Aid, Relief and Economic Security Act (CARES Act)—signed into law on March 27, 2020—offers important benefits for the public health crisis caused by COVID-19. However, the bill fails to provide substantive, comprehensive financial relief for vulnerable families who now face economic challenges, such as unemployment and reduced work hours, as a result of the crisis. It...
More
Policy & Legislation
Consumer Finance
Displaying 41 - 50 of 122