CRL in the News

Yet being able to put down very little on a home is “a very powerful tool to expand access to credit, if it is done responsibly,” Mitria Wilson-Spotser, vice president and federal policy director at the Center for Responsible Lending, told MarketWatch. “Most lenders actually write mortgages to the conventional mortgage standard, which is the standard that’s established by Fannie...

"The harm would be profound," said Ellen Harnick of the Center for Responsible Lending, a consumer advocacy group. "The market disruption, if existing rules are called into question, would be hard to overstate. ... All of the problems that led to the creation of the CFPB would now be unattended to."

Some cash advance apps push customers to pay a “tip” to the app to be able to access their funds. The term “tip” is effectively a way for apps to disguise fees, said Yasmin Farahi, deputy director of state policy and senior policy council at the Center for Responsible Lending. Consumers often don’t know that these fees are optional and...

"We condemn this move to block a plan that will provide significant financial relief to low-income borrowers and communities of color," said Herbin. "SAVE provides hope for borrowers as the administration continues to fight alongside advocacy groups to find other ways to achieve broad-based student loan relief. We continue to support President Biden in his quest to make our educational...

Consumer advocates criticized Republican efforts to roll back the aid. “We condemn this move to block a plan that will provide significant financial relief to low-income borrowers and communities of color,” said Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending.

Consumer advocates have expressed disapproval of Republican initiatives to reduce aid. "We condemn this move to block a plan that will provide significant financial relief to low-income borrowers and communities of color," said Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending, as reported by CNBC.

The latest research from CRL suggests that for consumers who repeatedly pay fees and "tips" for expedited EWA funds through popular third-party EWA service providers like MoneyLion, Earnin and Dave, it amounts to a digital payday loan. In a survey CRL conducted in May among 300 users of direct-to-consumer EWA services, 39% said they feel like they must keep on...

While the 1963 March on Washington brought more than 200,000 Americans to the nation’s capital in a historic call for jobs and economic justice, an event billed as a ‘continuation’ – not a commemoration will take place August 26 at the Lincoln Memorial. Co-sponsored by the National Action Network and the Drum Major Institute, organizers will focus on continuing the...

“Frankly the direct-to-consumer model is just a garden variety payday loan,” said Andrew Kushner, senior policy counsel at the Center for Responsible Lending.

“The CFPB’s funding structure is constitutional and critical to ensuring that it can carry out its consumer protection mission free from undue industry influence,” wrote community development credit unions and financial institutions in a May amicus brief.