CRL in the News

“The administration’s attempts to dismantle the nation’s only consumer financial protection watchdog will expose millions of households to excessive fees and financial predators and increase risks to the nation’s financial system,” said Mike Calhoun, president at the Center for Responsible Lending, in a statement responding to the appeals court ruling.

"Consumers are at risk of overextension given that lenders are not required under the law to meaningfully check a borrower's ability-to-repay," said Nadine Chabrier, senior policy counsel at the Center for Responsible Lending. "There is not currently a good way to check whether the borrower has multiple loans at the same time via credit report or otherwise."

The Center for Responsible Lending (CRL) has released a new report calling on policymakers and regulators to strengthen consumer protections in rooftop solar financing, warning that abusive practices threaten both homeowners and the industry’s long-term success. With the federal government scaling back oversight, CRL’s policy recommendations argue that states must take the lead in creating a fairer, more transparent market...

"Long delays in PSLF buyback processing must be corrected immediately so that public service workers who have provided essential local services are not deprived of the relief they've earned," said Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending.

“We fully expect to see this sort of patchwork of state enforcement and state action that’s only going to benefit some Americans,” said Whitney Barkley-Denney, deputy director of state policy at the Center for Responsible Lending. Individual states can’t fully replicate what the CFPB does in scale or national impact, she added.

New credit score data, such as rent payment history and bank account cash flows, may benefit some mortgage borrowers, but the new elements could also cause some problems.

“Passage of the partial claim bill will provide meaningful payment assistance to VA borrowers in financial distress,” said Mike Calhoun, president of the Center for Responsible Lending. “We encourage Congress to give VA additional financial hardship tools offered by other federally backed mortgage programs to help Veterans avoid unnecessary foreclosures and remain in their homes.”

"You really are double hammering households," says Michael Calhoun, president of the Center for Responsible Lending, a consumer advocacy group.

The law will take effect on January 1st, 2027. The typical rate for a payday loan in the state has been 261% APR, according to research from the Center for Responsible Lending (CRL). “Thanks to the dedication of Rhode Island lawmakers and advocates, the Ocean State will no longer have payday loan sharks. This law will prevent payday lenders from...

“For many people who live paycheck to paycheck, this will be a financially devastating law,” said Center for Responsible Lending President Mike Calhoun. “This act of Congress will take critical resources away from people with the least wealth, making it more likely they will go bankrupt. Alongside steep cuts to health insurance coverage and food assistance, it will nearly halve...