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CRL in the News

July 18, 2019 | By Consumers Advocate.org

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.

July 17, 2019 | By ANU ROY-CHAUDHURY | The American Prospect

The higher education system is broken, but instead of fixing it, the Department of Education is intent on breaking it even more.

July 12, 2019 | By Phil Hall | National Mortgage Professional Magazine

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).

 

July 11, 2019 | By Milwaukee Times

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.

July 9, 2019 | By WTOL News 11 at 7PM on FOX36

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. 

July 9, 2019 | By Brad Finkelstein | National Mortgage News

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.

July 5, 2019 | By Virgie Powell | The Entrepreneur Fund

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.

July 3, 2019 | By Michelle Fox | CNBC

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.

July 2, 2019 | By Renata Sago | Marketplace

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.

July 2, 2019 | By Credit Union Today

WASHINGTON– A coalition of consumer groups has sent a letter to the CFPB urging it not to weaken the Federal Reserve’s 2009 overdraft “opt-in” rule.

“More broadly, comprehensive reform of unfair and abusive overdraft practices is badly needed. … Financial institutions combine a number of unfair and abusive practices in order to impose high, repeat overdraft fees on their customers,” the letter reads.

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