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CRL in the News

May 6, 2019 | By Pamela Babcock | US News and World Report

If you carry a balance and can get a low interest rate, you might consider getting a fixed-rate card. But fixed-rate credit cards can be difficult to find and may come with other drawbacks. Here's a look at whether these cards might be a good option for you.

May 6, 2019 | By Alyssa Klink | Cronkite News

WASHINGTON – The federal government promised college students in 2007 that if they took their degrees and went into a public service profession, they could apply to have whatever student loan debts they still had after 10 years forgiven.

So far, the reality has been somewhat different.

When the first 29,000 applications were filed with the Department of Education last year, just 96 were OK’d, an approval rate of 0.33 percent.

May 2, 2019 | By Aaron Glantz and Emmanuel Martinez | Reveal

Want to know which banks target people of color for loans with high interest rates, steep fees or reverse mortgages?

Or which banks deny home loans to African Americans and Latinos even when their income shows they could easily cover the monthly payment?

April 30, 2019 | By David Baumann | Credit Union Times

Consumer advocates on Tuesday endorsed plans to impose a 36% interest rate cap on short-term, small dollar loans—a proposal that could easily accommodate the 28% interest cap of the NCUA’s Payday Loan Alternative Loan program.

April 30, 2019 | By David Lazarus | LA Times

The Consumer Financial Protection Bureau, under President Trump, already has moved to make life easier for payday lenders. It’s expected any day now to do the same for debt collectors.

The bureau will unveil proposed rule changes that are likely to include explicit permission for debt collectors to contact people via text and email (and maybe social media).

The new rules also may provide greater latitude for bothering people by phone and limits on people’s ability to challenge financial obligations.

April 24, 2019 | By Kate Patrick | Inside Sources

Ten years after the financial crisis and Great Recession, WalletHub measured the financial literacy of each state.

The average grade? No higher than a B, with most states falling in the D+ to B- range. The reason? Little to no financial education.

April 24, 2019 | By Susan Tompor | Detroit Free Press

Caution: If you're someone who grabs money management tips after a quick read of a headline or two on Twitter, take note. Don't bank on getting a big break yet on your college debt.

"College students who are graduating this year should not count on having their student loans forgiven," said Mark Kantrowitz, publisher and vice president of research for

April 24, 2019 | By Rebekah L. Sanders | Arizona Republic

When Ken Pepion paid $10,000 for a recreational vehicle to enjoy in retirement, he expected to own it.

But five months after driving off the lot of Scottsdale RV, Pepion still has no proof the vehicle is his.

"We tried to get in touch with the dealer. Their phones would ring and ring, but no one would answer," Pepion, a retired Colorado college administrator, said. "We had no idea what was going on."

April 22, 2019 | By Clayton Henkel | NC Policy Watch

Kelly Tornow of the Center for Responsible Lending discusses a new study on the shortcoming of for-profit colleges and the debt-load those students face versus those who attend traditional public four-year institutions. Learn more about the failings of for-profit colleges.

April 22, 2019 | By Liz Weston | The Charlotte Observer

Americans are slipping ever deeper into hock. To cope, many people turn to debt consolidation loans, cash-out mortgage refinancing and retirement plan loans that promise relief but could leave them worse off.

Paying off high-rate debt such as credit cards with lower-rate loans may seem like a no-brainer. Unfortunately, many of these loans have hidden costs and drawbacks. And consolidation by itself can't fix the problems that led to the debt in the first place. In fact, such loans can make matters worse if borrowers feel freed up to spend more.