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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State Consumer Protection Response to the COVID-19 Crisis

State Consumer Protection Response to the COVID-19 Crisis

The COVID-19 crisis is having profound financial impacts on families across the country and on the economy overall. With businesses shuttered, and over 22 million unemployment claims filed in the first month of the crisis alone, it is hard to overstate the financial instability and hardship the crisis has produced. These impacts will worsen over time, as immediate income shortfalls...
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Policy & Legislation
Consumer Finance

Economic Impact Payments Responding to This Public Health Emergency Should Be Exempt from Otherwise Legally Binding Garnishment Orders

Economic Impact Payments Responding to This Public Health Emergency Should Be Exempt from Otherwise Legally Binding Garnishment Orders

From the letter to Congressional leadership: The undersigned consumer and banking industry organizations write to urge Congress at the soonest possible opportunity to clarify that economic impact payments responding to this public health emergency are exempt from otherwise legally binding garnishment orders. Our organizations have worked together to address this issue and we believe that is possible to protect American...
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Letters to Congress
Consumer Finance

Financial Policy Recommendations for Coronavirus-Response Stimulus

Financial Policy Recommendations for Coronavirus-Response Stimulus

The Center for Responsible Lending (CRL) joined with 26 national civil rights, consumer, housing and labor groups, and 35 state groups in sending a letter to Congress with specific financial policy proposals that help address the needs of families most at risk from the impending economic collapse. A PDF of the letter is included above.
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Letters to Congress
Consumer Finance

Deposit Insurance Applications by Industrial Banks and Industrial Loan Companies

Deposit Insurance Applications by Industrial Banks and Industrial Loan Companies

From the letter: We believe such a rulemaking is necessary to provide much-needed clarity to this thus-far opaque part of the U.S. financial system – that is, the manner in which parent companies and affiliates of ILCs are subject to any kind of federal regulatory or supervisory oversight. By contrast, the federal statutory, regulatory and supervisory framework for parent companies...
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Comment Letter
Consumer Finance

Defending the Constitutional Structure of Consumer Financial Protection Bureau

Defending the Constitutional Structure of Consumer Financial Protection Bureau

Download the amicus brief submitted by the Center for Responsible Lending (CRL) and Cohen Milstein Sellers & Toll PLLC (Cohen Milstein) to the United States Supreme Court in the case of Seila Law LLC v. Consumer Financial Protection Bureau  (CFPB) on behalf of their clients, community development financial institutions (CDFIs) Self-Help Credit Union, Hope Enterprise Corporation / Hope Credit Union...
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Amicus Brief
Consumer Finance

Poll: Broad Support for Continued Wall Street Reforms in Early Primary States

Poll: Broad Support for Continued Wall Street Reforms in Early Primary States

Democratic primary voters in the states of Iowa, New Hampshire, Nevada, and South Carolina strongly support a tough approach to oversight of Wall Street, according to a new poll conducted by Lake Research Partners and Chesapeake Beach Consulting. Democrats and independents, and even many Republicans share the views of this crucial set of voters. Americans see the need for strong...
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Research
Consumer Finance

40+ Organizations Write in Support of DACA Enrollees

40+ Organizations Write in Support of DACA Enrollees

From the brief’s introductory passage: Imbued with the spirit of the American dream, and in reliance on the DACA program, enrollees have made substantial investments in themselves, their families, and their communities. Contrary to the government’s assertion in its brief to this Court (e.g., Pet. Br. 46), the DACA enrollees are not engaged in “ongoing illegal activity” or “ongoing violation...
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Amicus Brief
Consumer Finance

Strong Opposition to Proposed Changes to the Public Charge Guidelines

Strong Opposition to Proposed Changes to the Public Charge Guidelines

Self-Help and the Center for Responsible Lending strongly oppose the Department of Homeland Security’s proposed rule to drastically expand the criteria that will be considered to determine whether an immigrant is likely to become a public charge. Being deemed a public charge is of tremendous consequence for individuals and families, as it permits the government to deny someone admission to...
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Comment Letter
Consumer Finance

Comment: OCC Should Not Weaken Community Reinvestment Act

Comment: OCC Should Not Weaken Community Reinvestment Act

Today, the Center for Responsible Lending, Americans for Financial Reform, and other leading national labor, civil rights, consumer advocacy, fair housing, and legal services organizations responded in a joint comment to the Office of the Comptroller of the Currency’s (OCC) Advance Notice of Proposed Rulemaking (ANPR) on how the agency should update Community Reinvestment Act (CRA) procedures. The groups pressed...
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Comment Letter
Consumer Finance Mortgage Lending
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