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Press Releases

January 6, 2021
Washington, D.C. – The Center for Responsible Lending (CRL) strongly condemns the acts of violence seen today at the U.S. Capitol Building during the improper Congressional attempts to overturn the state-certified electoral votes for President-elect Joe Biden and Vice President-elect Harris. CRL President Mike Calhoun released the following statement: There should be no place for today’s events in an organized democracy such as ours. We pray for the future of our nation, the safety of our citizens and lawmakers, and the preservation of our democracy. We call for a peaceful transfer of...
January 5, 2021
WASHINGTON, D.C. – With just days left in President Trump’s Administration, a federal government agency has been moving forward with a proposal that could essentially force banks to finance payday and predatory installment lenders charging annual interest rates above 100% along with a range of other companies that pose risks to banks and the public. The Office of the Comptroller of the Currency (OCC) yesterday ended its comment period on the proposed rule, officially titled “Fair Access to Financial Services,” which is expected to limit banks’ ability to decide not to serve certain industries...
December 21, 2020
WASHINGTON, D.C. – Today, Congress is set to pass a coronavirus relief package that is crucial and yet falls short of fully addressing the great, pressing needs of a nation in crisis. Center for Responsible Lending (CRL) Federal Advocacy Director and Senior Counsel Ashley Harrington made the following statement: As the number of dead surpasses 315,000 and millions of families find themselves at risk of losing their homes, Congress finally presents us with a relief package that is sorely needed. But it is not expansive enough to bring necessary relief and stability to our nation,...
December 17, 2020
Washington, D.C. – Today, the Center for Responsible Lending, Bank Policy Institute and the Independent Community Bankers of America issued the following joint statement in response to a vote by the FDIC to approve a final rule on Industrial Loan Companies (ILCs): On Tuesday, the Federal Deposit Insurance Corporation finalized its rule governing supervision of parent companies of industrial loan companies. The FDIC has stated that this rule will formalize and strengthen the existing supervisory processes and policies that apply to parent companies of ILCs that are not subject to Federal...
December 7, 2020
WASHINGTON, D.C. – Center for Responsible Lending Executive Vice President Nikitra Bailey released the following statement on the passing last night of longtime U.S. Senator Paul Sarbanes (D-Md.), who chaired the Senate Banking, Housing, and Urban Affairs Committee: Our heartfelt condolences go out to Senator Sarbanes’s family as they mourn his passing. For decades, Senator Sarbanes was a champion for affordable, sustainable housing and for consumer protection. He brought to light predatory mortgage lending practices that proliferated in the early 2000s, including hidden costs and...
November 21, 2020
DURHAM, N.C. – Yesterday, Federal Reserve Chairman Jerome Powell announced his intention to comply with a request by Treasury Secretary Steven Mnuchin that the Federal Reserve return unused emergency relief funds by the end of the year. Center for Responsible Lending Executive Vice President Keith Corbett made the following statement: Our country continues to be roiled by a pandemic that is taking the lives of hundreds of thousands of people. The worst impacts of this catastrophe, both health-wise and economically, are being experienced in Black and Brown communities. And yet the...
November 7, 2020
WASHINGTON, D.C. - Today, it was announced that Joseph Biden will be the 46th President of the United States along with Kamala Harris as his Vice President. Center for Responsible Lending President Mike Calhoun released the following statement: The COVID-19 economic collapse has left the finances of many families in tatters, especially in Black and Brown communities, which have been hit the hardest by the crisis. The situation is dire, making quick enactment of long-overdue relief measures vitally important. To prevent mass foreclosures, evictions, bankruptcies, and other financial...
September 30, 2020
Updated HEROES Act Deserves Immediate Consideration by U.S. Senate WASHINGTON, D.C. – This evening, the U.S. House of Representatives passed a new comprehensive COVID-19 aid package – an updated version of the HEROES Act. If the bill is also passed by the Senate and signed into law, it would allocate $2.2 trillion and improve the Paycheck Protection Program to better serve the smallest businesses, including businesses owned by Black and Brown people that were shut out of the assistance program due to the prioritization of wealthier and larger enterprises. It would also extend and expand...
September 29, 2020
CFPB mission of protecting consumers remains extremely popular Voters concerned that federal COVID response favors Wall Street and big corporations WASHINGTON, DC - Ten years after Congress passed a major reform of Wall Street in response to the financial crisis, voters continue to overwhelmingly support more and tougher regulation of finance and they strongly approve of the mission of the Consumer Financial Protection Bureau, according to a new survey by Lake Research Partners. This support has proven remarkably durable and stretches across lines of party, race and ethnicity, age,...
September 26, 2020
WASHINGTON, D.C. - President Trump today announced Amy Coney Barrett as his U.S. Supreme Court nominee to replace Justice Ruth Bader Ginsburg, who passed away last week. The Senate Majority has signaled its intention to hold confirmation hearings in October. Center for Responsible Lending President Mike Calhoun released the following statement: The Senate Majority needs to prioritize COVID-19 relief legislation for the rest of this year and not use the remaining time of this session to confirm judicial nominees, leaving millions of Americans vulnerable to financial hardship. More than...

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