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CRL in the News

September 20, 2022 | By Alexandra Hart | Texas Standard
Nadine Chabrier is senior policy and litigation counsel at the Center for Responsible Lending, and spoke with the Standard about why consumers should use caution when financing with Buy Now, Pay Later. She said that, while the loans aren’t inherently predatory, they can quickly rack up fees if borrowers aren’t careful. Listen to the interview above or read the transcript below.
September 18, 2022 | By Chris Arnold | NPR

"If this bill passes, it will not be the end of rewards programs. They are one of the most important ways that credit card companies attract and keep some of their most profitable customers. And so they will continue to use that as a way to get those customers and keep them," said Mike Calhoun with the Center for Responsible Lending.

September 12, 2022 | By Zoe Sagalow, Syed Muhammad Ghaznavi | S & P Global
The CRL is particularly concerned about TD's overdraft practices and is advocating for the bank to change those policies, said Nadine Chabrier, senior policy and litigation counsel at the center. Such a change could be part of a community benefit agreement, but those tend to focus on lending, and the center wants those changes to be made now, she added. "We're going to advocate for them to revise their overdraft policies to stop harming consumers before the merger happens," Chabrier said in an interview. "It should be a condition of it."
September 1, 2022 | By Charlene Crowell | The Charlotte Post
Biden’s executive order “will bring wealth-building opportunities to struggling borrowers who have been crippled by student loan debt, especially low-wealth individuals, women and people of color — who were also disproportionately affected by the burdens of an unforgiving public health crisis,” said Jaylon Herbin, outreach associate and policy manager at the Durham-based Center for Responsible Lending.
August 31, 2022 | By Kevin Wack | American Banker

Consumer advocates say that a pro-consumer ruling in the suit could make it difficult for debt buyers operating in North Carolina to churn out a high volume of lawsuits, which frequently lead to default judgments against borrowers. "This has the potential for disrupting the assembly line, because the debt buyer is held to a higher standard," Nadine Chabrier, senior policy and litigation counsel at the Center for Responsible Lending, said in an interview Wednesday.

August 30, 2022 | By Jessica Dickler | CNBC
Now that the Biden administration has wiped out hundreds of billions of dollars in education debt and proposed a new income-driven repayment plan that could cut monthly payments in half for undergraduate loans, many borrowers will have lower monthly payments, or none at all. This “gives borrowers a chance to achieve their goals,” said Jaylon Herbin, a policy and outreach manager at the Center for Responsible Lending. That’s particularly true for women and Black borrowers, who carry higher balances after graduating, he said.
August 27, 2022 | By Nathaniel Lee | NBC

"For folks who have higher debt loads, they're actually getting their wages garnished or seized at really high rates," according to Lucia Mattox, senior policy manager at the Center for Responsible Lending. "Currently at the federal level, only $217.50 is protected in someone's weekly paycheck and that bill hasn't been updated since the late '60s."

August 26, 2022 | By The Philadelphia Tribune

“This is the first step in overhauling our federal student aid system and understanding that the student debt crisis has been a drastic burden from many people, especially people of color,” said Jaylon Herbin, outreach associate and policy manager for the Center for Responsible Lending.

August 25, 2022 | By Basil John | WRBL CBS

Center for Responsible Lending Policy and Outreach Manager Jaylon Herbin had 60,000 dollars in loans. “Yesterday’s announcement alleviated about 10,000 dollars worth but there’s still a lot that I still have to pay off,” Herbin said. Herbin supports more loan forgiveness and he’s not alone. A recent NewsNation poll found 64 percent of Americans are at least somewhat supportive of forgiving up to 100 thousand dollars of student debt. “50,000 dollars would’ve eliminated about 76% of the borrowers student debt,” Herbin said.

August 25, 2022 | By Evan Santiago | The Charlotte Observer
The Center for Responsible Lending says that there are 1.3 million borrowers in North Carolina who owe a collective amount of $48 billion, the Observer reported. Biden’s plan will alleviate a large portion of debt for a significant amount of Charlotte-Mecklenburg residents, according to most recent U.S. Census Bureau data and criteria outlined by the U.S. Department of Education.

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