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CRL in the News

April 2, 2021 | By Charlene Crowell | The Seattle Medium
Testifying on behalf of the Center for Responsible Lending, Nikitra Bailey, Executive Vice President recounted the legacy of federal housing policies whose sum created today’s financial inequities.
March 16, 2021 | By Stacy Cowley and Jim Tankersley | The New York Times
“We absolutely need those changes,” said Ashley Harrington, the federal advocacy director at the Center for Responsible Lending. In December, Congress made retroactive changes to Paycheck Protection Program loans for farmers that allowed those borrowers to recalculate and increase previously finalized loans.
March 13, 2021 | By Charlene Crowell | The Chicago Crusader
“The current economic crisis has added crushing debt onto the backs of Americans who can least afford it, which is disproportionately Black, Latino, and Native American communities,” observed Lisa Stifler, the Center for Responsible Lending’s Director of State Policy. “Payday and other high-cost, predatory loans make this situation even worse. Strong loan interest rate caps on the state and federal levels are essential to lifting the burden of debt that so many people have been forced to live with.”
March 4, 2021 | By Free Speech TV

Student debt in this country now exceeds credit card debt at $1.7 trillion of debt held by 44 million people. Calls are mounting for President Biden to fulfill a campaign promise to tackle this issue. Ashley Harrington, the Federal Advocacy Director of the Center for Responsible Lending (CRL), explains how student debt disproportionately impacts communities of color, particularly Black Americans.
 

February 26, 2021 | By Enlace Latino NC
Los hispanos y afroamericanos enfrentan múltiples barreras raciales para acceder a préstamos hipotecarios y tener vivienda propia. La situación -lejos de mejorar- empeoró, advirtió el Centro para Préstamos Responsables.
February 25, 2021 | By Maria Ramirez Uribe, Gracyn Doctor | WFAE

This is causing frustration for people helping small business owners prepare to apply, like Rochelle Sparko, the director of North Carolina Policy at the Center for Responsible Lending. She says this could end up hurting the businesses the changes intended to help. In reality, she says there isn’t really a two-week window dedicated to the smallest businesses. More like 7 to 9 days.

February 23, 2021 | By Annie Nova | CNBC
Before the pandemic, some 800,000 self-employed people were behind on their student loans, according to a recent report by the Center for Responsible Lending. And some 500,000 people of color may have been shut out of PPP help because of the exclusion of struggling student loan borrowers.
February 16, 2021 | By Megan Leonhardt | CNBC
To help consumers put these recent changes into perspective, the Center for Responsible Lending analyzed the average APR for a $300 loan in each state based on a 14-day loan term. Generally, payday lenders levy a “finance charge” for each loan, which includes service fees and interest, so many times consumers don’t always know exactly how much interest they’re paying.
February 9, 2021 | By Charlene Crowell | The Philadelphia Tribune

For Nikitra Bailey, executive vice president of the Center for Responsible Lending, Biden’s Racial Equity Initiative is “a critical first step by his administration to address injustices that are holding our country back” and “will help to move the nation closer to its ideals and center solutions to discrimination that hinder opportunity, allowing marginalized communities to move closer to equal justice under law.”

February 4, 2021 | By Joseph Guzman | The Hill
Those who stand to benefit most from the Democrat’s proposal include Black and Latino Americans who have historically lacked access to higher education, and are more likely to take on student loan debt and struggle with repayment. According to the Center for Responsible Lending, nearly 85 percent of Black bachelor’s degree recipients carry student debt, compared with 69 percent of white bachelor’s degree recipients.

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