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

Testimony: Ensuring Consumer Protections in Financial Markets of the Digital Era

Testimony: Ensuring Consumer Protections in Financial Markets of the Digital Era

This important hearing addresses how technological innovation has resulted in the development of new services and delivery platforms by both traditional financial institutions and non-bank fintech companies. The rapid expansion of market participants and their products has brought new opportunities, as well as significant consumer protection concerns, to the financial marketplace. In my written testimony I will discuss in detail...
More
Testimony
Consumer Finance

Protecting Servicemembers from Abusive Financial Practices

Protecting Servicemembers from Abusive Financial Practices

"The undersigned consumer, community, and civil rights organizations write to urge the Consumer Financial Protection Bureau to reverse its recent decision to suspend the supervision of payday, car title, and other lenders for violations of the Military Lending Act (MLA). We also urge the Department of Defense to ensure that the Military Lending Act is vigorously implemented without exemptions or...
More
Letters to Congress
Consumer Finance Payday and Other Small Dollar Loans

North Carolina Legislative Update August 16, 2018

North Carolina Legislative Update August 16, 2018

Dear Coalition Supporters, This update covers important predatory lending developments over the past few months, including action at the NC General Assembly, challenge of the payday rule in Congress (spoiler, we won!), threats to our state usury cap, rollback of federal student loan protections, and recent CRL research. NC General Assembly: What Happened? House Bill 810, backed by the NC-based...
More
Bill Law
Consumer Finance

Win in Congress: Attempt to Roll Back Payday Rule Fails

Win in Congress: Attempt to Roll Back Payday Rule Fails

Dear Coalition supporters, At a time when victories are hard to come by, please take a minute to celebrate a big win! We stopped Congress from rolling back the Consumer Financial Protection Bureau’s national payday rule. Last week, the clock ran out on efforts to use the fast-track Congressional Review Act to repeal the rule and prevent the bureau from...
More
Bill Law
Consumer Finance

Bank Payday Loans Are High-cost Debt Traps, Just Like Payday Loans From Non-banks

Bank Payday Loans Are High-cost Debt Traps, Just Like Payday Loans From Non-banks

This sign-on letter of national civil rights, faith, and consumer groups, argues that bank payday loans are high-cost debt traps, just like payday loans from non-banks. It urges the prevention of high-cost, usurious loans by banks and credit unions—whether short-term, balloon-payment payday loans (which banks sometimes call “deposit advance” loans) or longer-term high-cost installment loans or lines of credit, and...
More
Letters to Congress
Consumer Finance

Amicus Brief: CFPB Deputy Director Leandra English Appeals the Denial Of A Preliminary Injunction

Amicus Brief: CFPB Deputy Director Leandra English Appeals the Denial Of A Preliminary Injunction

Ten groups filed this amicus brief in support of the continued independence of the Consumer Financial Protection Bureau. This brief appeals the trial court’s denial of a preliminary injunction allowing Leandra English to serve as acting director of the CFPB. The litigation regarding whether the lawful acting director is English or U.S. Office of Management and Budget Director Mick Mulvaney...
More
Amicus Brief
Consumer Finance

Enfoque Newsletter

Enfoque Newsletter

Enfoque is a Spanish information service of CRL's Latino Affairs. All the content is in Spanish; the hyperlinks throughout the document land on the original sources on our website or mostly English pages. No 1 | Vol VIII | 2017 No 1 | Vol VII | 2016 No 1 | Vol VI | 2015 No 1 | Vol V |...
More
Policy & Legislation
Consumer Finance

Supporting the Bills "Protecting Consumers from Unreasonable Credit Rates Act"

Supporting the Bills "Protecting Consumers from Unreasonable Credit Rates Act"

This letter urges Congress to support the Senate and House companion bills, S. 1659/H.R. 3760, the “Protecting Consumers from Unreasonable Credit Rates Act,” sponsored by Senator Richard Durbin, Senator Jeff Merkley, Representative Matt Cartwright, and Representative Steve Cohen. The Senate and House bills would extend to all consumers a 36 percent usury APR cap. A fair rate cap will protect...
More
Letters to Congress
Consumer Finance Payday and Other Small Dollar Loans
Displaying 61 - 70 of 122