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Press Releases

February 4, 2019
WASHINGTON, D.C. – U.S. Senator Mike Crapo (R-Idaho), Chairman of the Senate Banking Committee, released a proposed outline to reform our nation’s housing finance system. The plan calls to privatize Fannie Mae and Freddie Mac while also converting the Federal Housing Finance Agency’s (FHFA) single-director structure into a bipartisan board. The Center for Responsible Lending, The Leadership Conference on Civil and Human Rights, NAACP, National Fair Housing Alliance, National Urban League, National Community Reinvestment Coalition, UnidosUS, and National Coalition for Asian Pacific American...
January 11, 2019
WASHINGTON, D.C. – Tomorrow, the partial government shutdown over funding of a wall along the U.S.-Mexico border will become the longest shutdown in U.S. history— causing financial hardship for many of the roughly 800,000 federal employees who have been furloughed or working without pay since December 21, 2018. According to a recent online report, unpaid federal workers already owe as much as $438 million in mortgage and rent payments this month. The Center for Responsible Lending (CRL) believes it is unjust and unfair for federal employees and contractors to be deprived of their paychecks...
November 19, 2018
WASHINGTON, D.C. – Today, the Center for Responsible Lending, Americans for Financial Reform, and other leading national labor, civil rights, consumer advocacy, fair housing, and legal services organizations responded in a joint comment to the Office of the Comptroller of the Currency’s (OCC) Advance Notice of Proposed Rulemaking (ANPR) on how the agency should update Community Reinvestment Act (CRA) procedures. The groups pressed the OCC that any changes to the CRA must strengthen -- not weaken -- banks’ obligation to meet the needs of low-income communities and communities of color and that...
September 19, 2018
OAKLAND, CALIF. – California Governor Jerry Brown has signed into law SB 818, a bill to restore key provisions in California’s landmark “Homeowner’s Bill of Rights” (HBOR) legislation which passed in 2012 in response to the foreclosure crisis. HBOR has prevented thousands of avoidable foreclosures by requiring mortgage loan servicers to engage in timely, fair and transparent process with struggling homeowners before proceeding to foreclosure. The bill’s sponsor is Senator Jim Beall (D-San Jose), who introduced the bill after concerns that HBOR has been weakened by the 2017 legislative sunsets...
September 6, 2018
WASHINGTON, D.C. – Today before a U.S. House Financial Services Committee hearing on reforms to the housing finance system and the future of Government-Sponsored Enterprises (GSEs), the Center for Responsible Lending (CRL) presented testimony that called for a trio of components to be preserved and strengthened. Together these principles will build upon housing reforms that have already occurred, while also bolstering the current ‘duty-to serve’ mandate: Broad access to all credit-worthy borrowers; Inclusion of small financial institutions such as community banks and credit unions;...
June 21, 2018
WASHINGTON, D.C. - Today, the Office of Management and Budget released a report entitled, “Delivering Government Solutions in the 21st Century: Reform Plan and Reorganization Recommendations.” This 132-page document details an unprecedented and broad reorganization across many federal agencies. The proposal also addresses the future of mortgage finance, specifically how two Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, will function. The report notes that these entities have remained under government control since 2008. The proposal would end the government...
June 19, 2018
Today Harvard University’s Joint Center for Housing Studies (JCHS) released its annual report, The State of the Nation’s Housing 2018. Published annually since 1988, this year’s report again identifies trends and changes in housing. Key to this year’s findings are: A growing income inequality where the cost of housing has outpaced growth in income, particularly for young and lower-income households; A persistent and worsening racial gap in homeownership, especially between black and white consumers; and The burgeoning impacts of the nation’s still-growing student loan debt that...
May 22, 2018
Meanwhile, FDIC today announced that bank profits this quarter were the highest on record WASHINGTON, D.C. – Just now, the U.S. House of Representatives voted in favor of S. 2155, a partial rollback of the Dodd-Frank financial reform law, which, since it has already passed the Senate, sends the bill to the President for his signature. The White House has issued a Statement of Administrative Policy in support of the bill. Center for Responsible Lending (CRL) Senior Legislative Counsel Yana Miles issued the following statement: This bill puts out a welcome mat for many of the same...
May 2, 2018
50 years after the Fair Housing Act, racial mortgage disparities persist WASHINGTON, D.C. –The Federal Housing Administration (FHA) is both a historic driver of the nation's persistent racial wealth gap and a necessary part of any solution for the nation's housing market, finds new research from the Center for Responsible Lending (CRL). Although FHA has been and remains central in creating homeownership opportunities for borrowers of color, low- to moderate-income borrowers, and lower-wealth borrowers, that was not the case in its early development. CRL's research report is being discussed...
April 25, 2018
*** MEDIA ADVISORY FOR WEDNESDAY, MAY 2, 2018 *** WASHINGTON, D.C. – On Wednesday, May 2, at approximately 8:45 a.m. ET, the Center for Responsible Lending (CRL), NAACP, National Fair Housing Alliance, National Coalition for Asian Pacific American Community Development, The Leadership Conference on Civil and Human Rights, National Urban League, and other national civil rights organizations will convene in Washington, D.C., to host a symposium honoring the 50th year of the Fair Housing Act. At the event, CRL will present a new...

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