CRL in the News
WASHINGTON — Recent steps allowing more lenders to skip outside appraisals are seen as removing a key hurdle to closings, but appraisers say they could be collateral damage from the deregulatory policies.
A recent op-ed by Cato Institute policy analyst Diego Zuluaga suggested that lawmakers should eliminate the Community Reinvestment Act, claiming this law is inefficient and other safeguards are already in place to push back against discriminatory lending.
College-sponsored bank accounts ding students with millions of dollars in fees each year, according to a report by the Consumer Financial Protection Bureau.
The Education Department under President Donald Trump never published the analysis but advocacy groups recently obtained it through a Freedom of Information Act request.
GRAND RAPIDS, MI -- Ask Galen and Alice Henderson about their dream home, and the couple doesn't skip a beat.
There would be a finished basement, they say. A two-car garage. A big backyard. And three bedrooms so their children - Zahir, 8, and Jamyah, 13 - don't have to share one.
Nothing too fancy, they say, just a place to call their own.
"Right now, we're in a two-bedroom," Galen Henderson said, describing the duplex his family rents on Old Valley Court SE in Kentwood. "We're stepping on each other's toes."
A new poll shows that student loan debt and predatory practices by some lenders that make paying loans back increasingly expensive prevents a majority of borrowers in the state from buying a home, a car or paying for necessities, and has spurred as many as one in four to move out of state for better-paying jobs.
Three months ago, one of the government’s top student loan watchdogs, Seth Frotman, stepped down from his job at the Consumer Financial Protection Bureau with a scathing resignation letter that criticized the Trump administration for undermining the agency’s enforcement efforts.
Then he took some people with him.
The racial wealth gap is the disparity in median household wealth between the different races. Home equity is a large percentage of most families’ wealth. As a result, increasing minority homeownership is critical to closing the gap.
Bank regulators have not come out with a formal plan for updating the Community Reinvestment Act, but a preliminary list of questions about the reform effort issued by the Office of the Comptroller of the Currency has produced a treasure trove of public feedback to guide their deliberations.
Maxine Waters of California is known as a partisan firebrand who gives as good as she gets, especially where President Trump is concerned.
Now, with Democrats assuming control of the House in January, the California Democrat is about to become more visible than ever before, with the power to slow down an important part of Trump's agenda and even shine a light on his company's finances.
Colorado voters have overwhelmingly opted for tighter regulations on payday lending, easily approving a proposal to cap interest rates on the short-term loans.