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Press Releases

July 1, 2020
WASHINGTON, D.C. - Last night, the U.S. Senate approved a bill to extend the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) application deadline. The bill extends the PPP authorization cutoff from June 30 to August 8, 2020, preserving funding for additional PPP loans. The bill now goes to the U.S. House of Representatives for consideration. The Senate legislation also decouples the PPP authorization from the SBA 7(a) program, eliminating the risk that the regular 7(a) program could shut down when the PPP hits its authorization cap. More than $100 billion in relief...
June 29, 2020
WASHINGTON, D.C. - Today, the U.S. Supreme Court released their decision in Seila Law LLC v. Consumer Financial Protection Bureau, where it found that the CFPB's leadership structure, which features a single head removable only for inefficiency, neglect, or malfeasance, is unconstitutional. In January, the Center for Responsible Lending and Cohen Milstein Sellers & Toll PLLC (Cohen Milstein) submitted an amicus brief to the United States Supreme Court in the case on behalf of their clients, community development financial institutions (CDFIs) Self-Help Credit Union, Hope Enterprise...
June 15, 2020
*** ADVISORY FOR WEDNESDAY, JUNE 17, 2020 AT APPROXIMATELY 1 P.M. ET/10 A.M. PT *** WASHINGTON, D.C. - On Wednesday, June 17, at approximately 1 p.m. ET/ 10 a.m. PT, Center for Responsible Lending (CRL) Director of Federal Advocacy and Senior Counsel Ashley Harrington will testify in a virtual hearing before the U.S. House of Representatives' Committee on Small Business for a hearing titled, “Paycheck Protection Program: Loan Forgiveness and Other Challenges.” In the hearing, Harrington will discuss the structural fixes needed to ensure that the Small Business Administration’s Paycheck...
June 4, 2020
Transparency and structural changes still needed to ensure funds reach the smallest small businesses and business owners of color WASHINGTON, D.C. – Last night, the U.S. Senate, by unanimous consent, approved the Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010). Since the bill already passed the House of Representatives, it now goes to the president, who is expected to sign it into law. H.R. 7010 makes important improvements to the Paycheck Protection Program (PPP), including extending the covered expense period from 8 to 24 weeks and pushing back the PPP processing deadline...
June 1, 2020
WASHINGTON, D.C. - Center for Responsible Lending President Mike Calhoun released the following statement today on the recent protests that took place over the weekend: Communities across the country rightly expressed their raw, unfiltered emotions because of the complacency that has allowed racism and oppression to continue in the United States. The senseless killings of unarmed black men and women—like George Floyd, Ahmaud Arbery, Breonna Taylor, and so many others before them—by irrational, and often racist, law enforcement officers are both heart-shattering and enraging. These...
May 29, 2020
Coalition of civil rights and consumer organizations urge Senate to include provisions to strengthen PPP’s infrastructure WASHINGTON, D.C. - The U.S. House of Representatives recently passed H.R. 7010, the Paycheck Protection Program Flexibility Act. The bill makes two important improvements to the Paycheck Protection Program (PPP), including extending the covered expense period from 8 to 24 weeks and pushing back the PPP processing deadline from June 30 to December 31, 2020. The legislation did not include several key fixes that are critically important for ensuring that the smallest...
May 13, 2020
WASHINGTON, D.C. – The U.S. House of Representatives, led by Speaker Nancy Pelosi (D-Calif.), yesterday released the HEROES Act (H.R. 6800), the latest legislative response to the unprecedented COVID-19 public health and economic crisis. Center for Responsible Lending (CRL) Federal Advocacy Director and Senior Counsel Ashley Harrington issued the following statement: The HEROES Act would help prevent families from losing their homes and stop an avalanche of debt that threatens to bury them. The HEROES Act would help protect the communities and families that have been hardest hit by...
April 23, 2020
WASHINGTON, D.C. - Today, the U.S. House of Representatives approved a small business package that the U.S. Senate approved by unanimous consent earlier this week. The bill aims to replenish funding for the Paycheck Protection Program (PPP), the loan program designed to help struggling small businesses hurt by the COVID-19 crisis. In the bill, lawmakers agreed to appropriate $310 billion to the PPP, which ran out of its initial funding capacity last week. Unfortunately, like the initial PPP funding, most of these new funds will continue to go to larger, wealthier and less diverse...
April 21, 2020
WASHINGTON, D.C. – The U.S. Senate passed a deal today to replenish funding for the Paycheck Protection Plan (PPP), the loan program designed to help small businesses slammed by the coronavirus crisis. Lawmakers agreed to send an additional $310 billion to the PPP, which ran out of its initial funding capacity last week. Like the initial PPP funding, most of these new funds will continue to go to larger, wealthier and less diverse businesses leaving smaller businesses of color excluded from the program unless changes are made. Center for Responsible Lending Federal Advocacy Director and...
April 17, 2020
Oakland, CA – As people en masse are losing their jobs and income, creditors are taking from desperately needed stimulus checks in order to collect on debts. The Center for Responsible Lending today continued its call for state and federal officials to take immediate action to protect this emergency funding. Marisabel Torres, Center for Responsible Lending’s Director of California Policy, issued the following statement: The CARES Act stimulus checks are meant to help people meet basic needs like food, housing and medicine – not to pay off creditors. As it stands, a bank could take $1,...

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