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CRL in the News

August 16, 2019 | By David Lazarus | The Los Angeles Times
Something very important, affecting millions of consumers, won’t happen Monday. That’s when new protections from abusive payday and car-title lenders were set to take effect, requiring the firms to make sure borrowers can pay back their obligations in a reasonable amount of time and don’t become mired in debt . However, the Trump administration is delaying this perfectly reasonable safeguard for another 15 months, and already has declared its intention to do away with the rules entirely amid concern they’re too troublesome for lenders.
July 25, 2019 | By Susan Tompor | Detroit Free Press

Student loan debt is no doubt a drag on the U.S. economy, holding back how much money young consumers can spend on cars, homes and even invest in 401(k) plans or new businesses. 

But the debt crisis is giving an early kick start to the 2020 Democratic presidential race. One candidate after another has generated some buzz by offering up one freebie or another for tackling $1.5 trillion in student loan debt.  

July 25, 2019 | By Atlanta Daily World

This week, the Center for Responsible Lending and the National Association for the Advancement of Colored People (NAACP) released a report finding that student loan debt is unsustainable for many student borrowers, especially borrowers of color.

July 24, 2019 | By David Baumann | Credit Union Times

A coalition of consumer groups is asking the CFPB to extend the comment period for the agency’s controversial proposed debt collection rules by two months.

July 24, 2019 | By Shailaja Neelakantan | Education Dive

Outstanding student debt continues to grow, with some 43 million Americans owing a total $1.4 trillion in federal student loan debt alone. 

July 24, 2019 | By Andrew Kreighbaum | Inside Higher Ed

When Senator Elizabeth Warren, a contender for the 2020 Democratic presidential nomination, joined House Majority Whip James Clyburn in unveiling an ambitious student debt cancellation bill Tuesday, she said they weren’t “looking for one headline” about the $640 billion proposal.

Clyburn, a member of the Democratic leadership, said he plans to push legislation that could pass in the House. The South Carolina lawmaker added that the bill was about making headway over headlines.

July 23, 2019 | By Poonkulali Thangavelu

Even as the Consumer Financial Protection Bureau (CFPB) moves to update the Fair Debt Collection Practices Act of 1977 to better reflect the impact of newer communications technology, some consumer advocates point to the inadequacy of the proposed measures.

July 23, 2019 | By Sara Weissman | Diverse: Issues in Higher Education

Student loan debt is swelling for graduates across the country.

But according to a new report, the crisis is hitting students of color the hardest – and widening the racial wealth gap in the process.

July 23, 2019 | By WINK-FTM (CBS) - Fort Myers, FL

National student debt has reached the trillion-dollar mark and some senators want to cancel it, proposing huge amounts of money to do so. But it turns out - 10-thousand dollars might do the trick. Market Watch looked at a new analysis from the center for responsible lending. It suggests just 10 grand might make a difference for a huge amount of borrowers. 40 percent of people in repayment--- and a majority of people who are defaulting. 

July 22, 2019 | By Jillian Berman | MarketWatch

The race to become the Democratic nominee for president has brought the idea of mass and even total student-debt cancellation into the spotlight.