CRL in the News

“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.

“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.”

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.

"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...

In 2022, the most recent data available, Rhode Island borrowers paid an estimated $2.8 million on interest and fees associated with payday loans, based on the $28.2 million of money borrowed across 80,650 loans, according to a January 2025 report by the Center for Responsible Lending. Research by Pew and the Center for Responsible Lending also contradict opponents’ arguments that...

Blunt Rochester’s bill is co-sponsored by Republican Mike Rounds of South Dakota, among other senators. Blunt Rochester says she is proud to have a bipartisan bill that is also supported by the VA, the National Consumer Law Center and the Center for Responsible Lending.

The Consumer Financial Protection Bureau has been an effective watchdog for consumers, and its secure, independent funding is key to its effectiveness. That's why a new proposal from the Senate Banking Committee for the massive budget bill now quickly moving through Congress (H.R. 1) to eliminate this source of funding for the Consumer Bureau is so dangerous. Congress wisely created...

While we don’t have a central database on total debt, different studies can shed light on the types of consumers who use BNPL services. There are some data points about BNPL users that suggest they’re “financially vulnerable,” said Nadine Chabrier, senior litigation and policy counsel at the Center for Responsible Lending.