CRL in the News
The rate of Black homeownership in America – now at 41.1 percent, according to 2019 U. S. Census numbers – is even lower than it was when the U. S. Fair Housing Act was signed into law 51 years ago on April 11, 1968.
This means Black homeownership is 32.1 percentage points lower than that of Whites, which stands at 73.2 percent. It also means Black homeownership is 6.3 percentage points lower than that of Latino-Americans, which stands at 47.4 percent.
The federal Consumer Financial Protection Bureau changed its tune on payday loans when the country changed presidents. The Center for Responsible Lendingnoticed.
CRL's Ezekiel Gorrocino visits with details of the current situation with payday loans.
WASHINGTON — When the Federal Housing Finance Agency opened a fair-lending monitoring office last August, there was little fanfare. But the launch of the Office of Fair Lending Oversight stood in contrast to different moves by officials elsewhere in the Trump administration.
After over a decade of stagnation, the race is finally on to release mortgage giants Fannie Mae and Freddie Mac from government control and reshape the housing finance system.
In her first four and a half months on the job, Consumer Financial Protection Bureau Director Kathy Kraninger was no stranger to Capitol Hill, holding in-person meetings with lawmakers more than twice as often as her predecessor did during a similar time frame.
Hannah Hudson was one of the few high school graduates lucky enough to take a European summer vacation before the long slog of adulthood.
Little did she know, she’d spend a half-day wondering how to cover her next meal after a series of overdraft fees from Bank of America left her more than $100 in debt. Halfway around the globe and nine hours ahead of California, Hudson was unable to contact financial reinforcements with her parents fast asleep in Orangevale.
Sallie Mae, the student loan provider once sponsored by the government, is expanding into credit cards.
The company this month unveiled a suite of three credit cards aimed at college students, recent graduates and young professionals. Its new cards offer rewards for responsible financial behavior. They come 18 months after the company introduced personal loans.
For California borrowers trapped in loans with triple-digit interest rates, a proposed bill to impose a 36% cap might seem like a godsend.
If passed, Assembly Bill 539 would end a decades-long practice of allowing installment loans of $2,500 to $10,000 to carry such high interest rates by limiting that number to 36%.
Millions of Americans have filed Chapter 7 bankruptcy to eliminate crippling debt and get a fresh financial start, but nowadays it isn’t unusual for people to come out of the process still owing much of their debt in the form of student loans, according to a report issued Tuesday by LendEDU.
Based on anonymized data from 1,083 bankruptcy cases across the nation supplied by Upsolve, a nonprofit that helps low-income people file for Chapter 7 bankruptcy free of charge, 32 percent of filers had student loan debt.