CRL in the News

The list of regressive new laws enacted in North Carolina in recent years is a long and sobering one. In area after area, state leaders have pushed an agenda that has dis-invested in essential public services and structures, promoted discrimination, laid waste to the natural environment and expanded economic stagnation and inequality.

In 2016, recent reports of job growth are encouraging to learn. Yet these and other economic measures have yet to lessen the economic anxiety faced by so many California families. Struggles to make financial ends meet are particularly prominent for people of color.

The Community Reinvestment Act has been noticeably absent from both parties' rhetoric this campaign season, despite income inequality and the banking industry being so high up among their priorities. Building on the CRA would be a logical place to start to address income inequality, says Nikitra Bailey, who oversees coalition building and constituent services at the Center for Responsible Lending, but many believe the law is outdated.

A los prestatarios latinos se les niega el acceso al crédito hipotecario en mucha mayor medida que a los blancos, lo cual continúa causando profundas brechas en la riqueza racial y segregación en la vivienda.

If you are one of the 77 million Americans who are hounded each year by debt collectors, the Consumer Financial Protection Bureau (CFPB) is taking on this $13 billion industry. At a July 28 field hearing in Sacramento, Richard Cordray, CFPB Director, announced the Bureau’s intent to rein in illegal practices that harass and rob consumers.

“Payday (loans) are costing people in states where it is legal… (up to) $8 billion in fees from (the) pockets of people that are living paycheck to paycheck,” said Susan Lupton, a senior policy associate with the Center for Responsible Lending.

“Payday (loans) are costing people in states where it is legal… (up to) $8 billion in fees from (the) pockets of people that are living paycheck to paycheck,” said Susan Lupton, a senior policy associate with the Center for Responsible Lending.

Auto-title loans, in which people borrow by using their vehicles as collateral, are arguably the most pernicious of payday lending’s mutant offspring: an estimated two million Americans borrow this way, earning lenders four billion dollars in fees every year. They’ve become particularly pervasive in Georgia. According to the Center for Responsible Lending, four hundred and nineteen car-title lenders were operating in the state in 2016, one for every 18,402 adult residents.

Nikitra Bailey, who oversees coalition building and constituent services at the Center for Responsible Lending, said that if bringing unbanked or underbanked Americans into the financial mainstream is a part of addressing income inequality, building off the CRA would be a logical place to start.

If you are one of the 77 million Americans who are hounded each year by debt collectors, the Consumer Financial Protection Bureau (CFPB) is taking on this $13 billion industry. At a July 28 field hearing in Sacramento, Richard Cordray, CFPB director, announced the Bureau's intent to rein in illegal practices that harass and rob consumers.