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Press Releases

December 16, 2021
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) announced it is opening an inquiry into large “Buy Now, Pay Later” (BNPL) lenders. “Use of ‘Buy Now, Pay Later’ credit has exploded, so it is important that we understand the impacts of this debt. In opening this inquiry, the Consumer Bureau is taking a great first step in learning about this industry and toward preventing harm to consumers,” said Center for Responsible Lending (CRL) Director of California Policy Marisabel Torres. Watch and read Ms. Torres’s recent testimony before Congress on BNPL and other...
December 10, 2021
“Lack of competition in the banking sector can drive up prices for consumers and stifle economic growth and innovation,” said Mike Calhoun, president of the Center for Responsible Lending. “We need more robust scrutiny of the disproportionately negative impact bank mergers can have on communities of color, rural and low-income Americans. The FDIC should be taking affirmative steps to promote competition and financial fairness for consumers and businesses.” ### Press Contact: Alfred King alfred.king@responsiblelending.org
November 18, 2021
WASHINGTON, D.C. – Today, the Center for Responsible Lending called for Congress to pass the Build Back Better Act. The bill aims to combat climate change and strengthen our nation’s human infrastructure, including through an historic investment in housing. Center for Responsible Lending President Mike Calhoun issued the following statement: The Build Back Better Act would make much-needed investments in the affordability, supply, and maintenance of housing for American families. This legislation would constitute a major step toward ensuring everyone has a decent and affordable place...
October 14, 2021
WASHINGTON – Three national advocacy organizations today announced they have received a $250,000 grant to engage with policymakers and address systemic challenges that prevent Asian American, Pacific Islander, Latinx and Black entrepreneurs and micro-entrepreneurs from being able to start and grow businesses. The National Coalition for Asian Pacific American Community Development (National CAPACD), National Association for Latino Community Asset Builders (NALCAB) and Center for Responsible Lending (CRL) will use the Rebuilding Together grant from the Ewing Marion Kauffman Foundation...
October 8, 2021
OAKLAND, CA – Following release of a new California Department of Financial Protection and Innovation (DFPI) report, Center for Responsible Lending Director of California Policy Marisabel Torres issued the following statement: This report is the first since California’s groundbreaking law capping annual interest rates at 36% went into effect. The data show that the law essentially eliminated triple-digit interest rate loans that are between $2,500 and $10,000, which is a significant victory in protecting consumers from these predatory products. California policymakers should now take the...
September 30, 2021
WASHINGTON, D.C. – The U.S. Senate is expected to take a final vote today on the nomination of Federal Trade Commission member Rohit Chopra to serve as director of the Consumer Financial Protection Bureau (CFPB). In response to this development, Center for Responsible Lending Acting Federal Advocacy Director Graciela Aponte-Diaz issued the following statement: Rohit Chopra is the consumer watchdog our country needs. He is up to the challenge of protecting people’s wallets from predatory practices, ranging from lending discrimination to COVID relief scams to abusive debt collection...
September 29, 2021
Joint statement by BPI, CRL and ICBA in advance of U.S. Subcommittee hearing on “The Future of Banking” Washington, D.C. — This morning, the U.S. House Financial Services Subcommittee on Consumer Protection and Financial Institutions will meet to discuss the “The Future of Banking,” including whether to prevent companies that are not banks from using an industrial loan company (ILC) charter to expand their business into financial services without meeting the full slate of safeguards and oversight that applies to bank holding companies. The Bank Policy Institute, Center for Responsible...
August 6, 2021
WASHINGTON, D.C. - Center for Responsible Lending President Mike Calhoun released the following statement on the passing of AFL-CIO President Richard Trumka: We are saddened by the passing of AFL-CIO President Richard Trumka. The working people of America have lost a fierce human rights and labor activist. Unafraid to speak truth to power, Trumka challenged classism, pushed for economic programs and voting rights bills, challenged corporate America, and demanded change. From his early days as the youngest president of the United Mine Workers of America to his days as president of the...
July 16, 2021
WASHINGTON, D.C. – Today, House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) formally introduced three bills to help more people afford to have a roof over their head without sacrificing food, medicine, or other life necessities. The legislative package – the Downpayment Toward Equity Act of 2021, Ending Homelessness Act of 2021, and Housing Is Infrastructure Act of 2021 – has received the endorsement of the Center for Responsible Lending (CRL). “Chairwoman Waters is a long-time champion of fair and affordable housing. Her proposed legislative package addresses our...
May 25, 2021
WASHINGTON, D.C. – Today, as the country reflects on the one-year anniversary of George Floyd’s murder, the U.S. Senate is voting to confirm Kristen Clarke as head of the U.S. Justice Department’s Civil Rights Division. Ms. Clarke, who is president of the Lawyers’ Committee for Civil Rights Under Law, will be the first woman, first woman of color, and first Black woman to receive Senate confirmation for the position. “Kristen Clarke is the right person at the right time to serve as Assistant Attorney General for Civil Rights,” said Center for Responsible Lending Federal Advocacy Director...

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