CRL in the News
In the wake of the financial crisis, the Consumer Financial Protection Bureau (CFPB) was established to stop predatory financial activity central to the collapse. For years, the CFPB has stood up to financial predators, holding companies acting in bad faith accountable for wrongdoing and returning $12 billion of ill-gotten profits to consumers.
Our team sat down and spoke with Cheye-Ann Corona, Senior Policy Associate with the Center for Responsible Lending (CRL), to have her shed some light on common issues in the student loan industry. The CRL is part of the Self-Help Credit Union, a member-owned credit union, non-profit loan fund, and policy advocacy organization that works to help low-income families strengthen their economic opportunities.
The higher education system is broken, but instead of fixing it, the Department of Education is intent on breaking it even more.
The question of what will happen in mortgage lending after the government-sponsored enterprise (GSE) Patch expire in January 2021 is the focus of a new report published by the Center for Responsible Lending (CRL).
According to a survey by Bankrate, roughly 25 percent of Americans live paycheck to paycheck. The money they make just barely covers their day-to-day expenses, with little or nothing left over for emergencies. If you’re in this situation, any unplanned expense – such as a $300 car repair – can cause a financial crisis.
According to the Center for Responsible Lending, interest rates on these loans average 24 percent: 3 to 4 times the average rate for used car loans.
After the government-sponsored enterprise patch expires, "near prime" loans over the 43% debt-to-income ratio should be qualified mortgages if they have compensating factors, according to a new Center for Responsible Lending report.
After serving overseas, military service members return home to face a new economic reality that often includes, unfortunately, lenders looking to take advantage of their vulnerability.
These so-called predatory lenders, which pop up around military bases, try to entice or deceive young soldiers into taking out loans that impose abusive or unfair terms.
After serving overseas, military service members return home to face a new economic reality that often includes, unfortunately, lenders looking to take advantage of their vulnerability.
These so-called predatory lenders, which pop up around military bases, try to entice or deceive young soldiers into taking out loans that impose abusive or unfair terms.
The Consumer Financial Protection Bureau just wrapped up a public comment period on a rule that extends some protections to consumers who overdraw their checking accounts. The CFPB must examine the rule under a federal law that requires agencies to review rules that might affect small businesses.