Press Releases
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...
September 18, 2020
WASHINGTON, D.C. - Center for Responsible Lending President Mike Calhoun released the following statement on the passing of Supreme Court Justice Ruth Bader Ginsburg:
Tonight, we pause to honor the life of Justice Ruth Bader Ginsburg. Justice Ginsburg was a pioneer, a titan, a brilliant jurist, and one of the fiercest advocates for women’s rights and gender equality, civil liberties, and fair pay, among so many other issues. Even before her service on the United States Supreme Court, she shattered glass ceilings and led the fight in setting legal precedents that help women move toward...
September 10, 2020
WASHINGTON, D.C. - Today, Senators voted down the Senate Majority Leader’s narrow COVID-19 bill, which was introduced earlier this week. As written, the bill fails to provide substantive relief for renters, student loan borrowers, small business owners, unemployed workers, and other people who are still struggling during this pandemic. The bill did not receive bipartisan support.
Center for Responsible Lending Federal Advocacy Director and Senior Counsel Ashley Harrington released the following statement:
This bill is an inadequate response to our current economic fallout and public health...
August 11, 2020
WASHINGTON, D.C. – The Trump Administration issued four executive orders Saturday related to the COVID-19 pandemic that fail to recognize and adequately address the magnitude of the ongoing crisis and the need for massive reform. The orders are weak and inadequate, and they leave out millions who are struggling to survive in grim circumstances.
We need comprehensive legislation that rises to this historic challenge and brings the full force of our government and its vast resources to bear on these enormous societal problems.
Ashley Harrington, Federal Advocacy Director at the Center for...
July 29, 2020
Washington, D.C. — The Bank Policy Institute (BPI), Center for Responsible Lending (CRL) and Independent Community Bankers of America (ICBA) today urged Congress to impose a three-year moratorium on industrial loan company licensing applications. The moratorium on Federal Deposit Insurance Corporation approvals would provide Congress time to close the ILC loophole and ensure ILCs and their parent companies don’t pose unnecessary risks to consumers and taxpayers.
“ILCs offer banking products and services that are functionally indistinguishable from those offered by banks, but the ILC...
July 28, 2020
WASHINGTON D.C. – Last night, the U.S. Senate unveiled a $1 trillion rescue package called the HEALS Act in response to the ongoing public health and economic crisis resulting from the COVID-19 pandemic. The bill falls far short of what is needed to support families and businesses in this crisis. It fails to include additional funding to state and local governments, extend the eviction moratorium and provide rental assistance, include provisions to protect consumers from predatory debt collection practices, provide relief for student loan borrowers, and add structural program fixes needed for...