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CRL in the News

July 20, 2018 | By Debbie Goldstein | Center for Responsible Lending

Many Americans have felt the frustration of getting the run-around from a customer service agent or finding an unhelpful recording at the end of a financial company’s complaint line.

When someone has been cheated out of money and their family’s wellbeing is at stake, this experience is more than an annoyance — it’s an injustice that for too long left people with little recourse. That is, until 2011 when the Consumer Financial Protection Bureau launched the consumer complaint database, which documents and helps people resolve disputes with financial companies.

July 19, 2018 | By Kori Hale | Forbes

Many African American households are worse off than they were 30 years ago. About eight percent of African-American homeowners lost their properties to foreclosure from 2007 to 2009, according to estimates from the Center for Responsible Lending. Also, only 43% of black people owned homes in 2017 , according to an annual report from the Joint Center for Housing Studies of Harvard University.

July 19, 2018 | By Joseph Lawler | Washington Examiner

“Kathy Kraninger’s nomination is just a political play for Mick Mulvaney to cement his anti-consumer agenda at the CFPB,” said Debbie Goldstein, executive vice president at the Center for Responsible Lending. “She has no experience in protecting Americans from predatory lenders and has a record of mismanagement that’s harmed families across the country.”

July 19, 2018 | By Charlene Crowell | Center for Responsible Lending

“Mulvaney’s decision to halt the CFPB from moving forward on addressing abusive overdraft fee practices will severely impact poor families and communities of color,” said Rebecca Borne, Senior Policy Counsel at the Center for Responsible Lending in response.

July 19, 2018 | By The Washington Post

"We need a CFPB director that's going to hold Wall Street accountable and transparent to the public, someone with a proven track record of going to bat for consumers - Kathy Kraninger is not that person," said Debbie Goldstein, executive vice president of the Center for Responsible Lending.

July 19, 2018 | By Andy Rosen | Boston Globe

“When you’re dealing with primary residences, that’s a situation that could have potential lifetime repercussions,” said Scott B. Astrada, director of federal advocacy for the Center for Responsible Lending. “Some of the models I’ve seen raise a lot of questions and concerns that we don’t have answers to yet — and I don’t think anyone does.”

He also questioned what would prevent the companies from ignoring low-income, minority, and rural communities that have seen slow growth in real estate values following the Great Recession.

July 18, 2018 | By CultureBanx Team | Medium

Many African American households are worse off than they were 30 years ago. About eight percent of African-American homeowners lost their properties to foreclosure from 2007 to 2009, according to estimates from the Center for Responsible Lending. Only 43% of blacks owned homes in 2017, according to an annual report from the Joint Center for Housing Studies of Harvard University.

July 17, 2018 | By Harold Meyerson | The American Prospect

“With Wells now publicly committed to making restitution for its actions,” says Ross, “we feel now would be a good time for the CBB to get a seat at the table as well.” Members of the council, which includes representatives of church groups and organizations like the Center for Responsible Lending, seem responsive to the request, which the CBB initially presented to management last year. Until the Des Moines meeting, the company had been cool to the idea, but Wells CEO Timothy Sloan seemed open to the idea when Ross raised it at the meeting, and CBB is following up.

July 17, 2018 | By Kyeland Jackson | WFPL FM

Lindblad said redlining — the government-sanctioned practice of restricting home loans for people of color to certain areas — and other bad lending practices disproportionately hurt communities of color. That has resulted in more foreclosures and vacant homes in some neighborhoods. When homeownership is done right, Lindblad said the sense of stability can boost a person’s health, strengthen the surrounding community and reduce crime.

July 16, 2018 | By Charlene Crowell | Center for Responsible Lending

“Fifty years ago, Congress empowered HUD to dismantle legalized discrimination in housing to create opportunity for all as where you live is a factor in so many of life’s outcomes, including education and healthcare,” noted Nikitra Bailey, an EVP with the Center for Responsible Lending.

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