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CRL in the News

May 9, 2018 | By Ken Sweet | Associated Press

"Education alone cannot stop predatory behaviors on the part of for-profit schools and servicers, nor can it help hundreds of thousands of Americans in serious debt because of these practices," said Whitney Barkley-Denney, senior policy counsel with the Center for Responsible Lending.

May 7, 2018 | By Chris Arnold | WAMU

Republicans lawmakers are expected to overturn a rule designed to prevent discrimination by auto lenders. It’s part of a broader effort to roll back other regs using the Congressional Review Act.

April 25, 2018 | By Jim Puzzangher | The Lost Angeles Times

"Mick Mulvaney has just told bankers he can hide their misconduct from the public by making the complaint database private," said Debbie Goldstein, executive vice president of the Center for Responsible Lending. "If he does so, he will be making it easier for predatory lenders to fleece consumers. That would violate the mission that Congress gave the consumer bureau: to protect consumers and make markets more transparent."

April 24, 2018 | By David Lazarus | The Los Angeles Times

Debbie Goldstein, executive vice president of the Center for Responsible Lending, told me such practices have been an open secret in the auto industry for many years.

"People just aren't treated with fairness and respect by dealers," she said.

April 20, 2018 | By Alexia Fernández Campbell | Vox
“Mick Mulvaney is letting predatory payday lenders off the hook while they rip off American consumers,” Diane Standaert, executive vice president for the consumer watchdog group, said in a statement. “The companies...have a well-documented history of causing borrowers financial devastation. If they have committed illegal actions, they should be held accountable.”
April 20, 2018 | By Pymnts.com
Still, even with the stepped-up enforcement, there are concerns that the state AGs can’t go after the really big financial companies such as Wells Fargo or Bank of America. States tend to go after smaller, state-chartered banks or non-banks like payday lenders and mortgage brokers. They also have less of a budget than the CFPB and thus may not be as effective as the federal government in holding the big firms accountable.
April 16, 2018 | By Diannah Watson | BlackAmericaWeb.com

Payday lenders are companies that lend customers small amounts of money at high-interest rates with the agreement that the borrower will pay that money back.

In Florida, payday lenders are preying on Black pastors and Civil Rights organizations and continue to expand their business as they hurt people. Roland Martin talks with Rev. Sekinah Hamlin, Director, Faith & Credit Roundtable with the Center for Responsible Lending (CRL) about the influence of Payday Loans on African-Americans.

April 8, 2018 | By Emily Glazer and Gretchen Morgenson | The Wall Street Journal

While many consumers choose to buy aftermarket products, they’ve also generated complaints. “Each of these products is very expensive—if you finance them through the dealership they’re marked up 100% to 150%,” said Delvin Davis, senior research associate at the Center for Responsible Lending, a nonprofit focusing on consumer finance. “A lot of times the products are put into the contract without consumers’ full knowledge and consent.”

April 7, 2018 | By David Dayen | The Intercept

Student loan servicers have been continually cited for a litany of abuses. First, they neglected to inform borrowers about income-based repayment, under which borrowers pay a percentage of income over 20 or 25 years, and thereafter have the balance forgiven. “The reality is that borrowers shouldn’t be in default if servicers are doing their job,” said Whitney Barkley-Denney of the Center for Responsible Lending. But over 1 million student loan defaults occurred in 2016.

April 5, 2018 | By Michelle Singletary | The Washington Post

“Ten years after reckless and abusive financial industry behavior caused the Great Recession, Mr. Mulvaney is throwing sand in the gears of effective consumer protection,” said Debbie Goldstein, executive vice president at the Center for Responsible Lending.

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