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Press Releases

April 28, 2021
Video highlights, below, on the harms of predatory rent-a-bank schemes WASHINGTON, D.C. – Today, the U.S. Senate Committee on Banking, Housing, and Urban Development held a hearing, “The Reemergence of Rent-a-Bank?,” focused on legislation to rescind a bank regulator rule that facilitates this predatory lending scheme. The regulation, issued by the Office of the Comptroller of the Currency (OCC), can be eliminated through a legislative tool that prevents the possibility of a Senate filibuster, but that action must be taken before an upcoming deadline in May. Video highlights of the...
April 21, 2021
WASHINGTON, D.C. - Today, the U.S. Senate confirmed Vanita Gupta to be Associate Attorney General at the U.S. Department of Justice (DOJ). Gupta is the first woman of color to hold the position. Center for Responsible Lending President Michael Calhoun issued the following statement: Vanita Gupta is an accomplished advocate and litigator who has led the Civil Rights Division at the U.S. Department of Justice (DOJ) under President Barack Obama. Her history of public service and proven track record of fighting for civil rights and economic fairness is second to none. Ms. Gupta has...
April 21, 2021
Data reflects dire need for down payment assistance and student debt relief that would help support path to homeownership WASHINGTON, D.C. – Today, the Center for Responsible Lending (CRL) released a new report “Hardship for Renters: Too Many Years to Save for Mortgage Down Payment and Closing Costs.” The report calculates how long it would take for a typical renter household to save for a mortgage down payment and closing costs for a median-priced house and how this varies by race/ethnicity, household type, location, and occupation. For instance, the report data show that the typical...
April 20, 2021
WASHINGTON, D.C. – Today, a jury convicted former police officer Derek Chauvin of the murder of George Floyd, finding him guilty on all three counts. Center for Responsible Lending President Michael Calhoun issued the following statement: We all watched in horror last year as Derek Chauvin denied George Floyd the breath of life with a knee to his neck. While our fear that this obvious and extreme act of brutality might go unpunished has lifted, our hearts still hold the sorrow of precious lives needlessly lost. This brutal killing is part of the long legacy of racism and the...
April 20, 2021
Washington, D.C. – Former Vice President Walter Mondale, an outspoken supporter of civil rights and co-author of the landmark Fair Housing Act of 1968, which sought to end racial discrimination in housing and create inclusive communities, died yesterday at the age of 93. Center for Responsible Lending Executive Vice President Nikitra Bailey issued the following statement: Vice President Walter Mondale was a giant of civil rights while in the U.S. Senate and during some of the most significant, contentious moments in our nation’s history. The introduction of the Fair Housing Act — and...
April 15, 2021
Washington, D.C. – The U.S. Senate Judiciary Committee this week heard testimony from Kristen Clarke, President Biden’s nomination for Justice Department Civil Rights Chief. Ms. Clarke, who appeared Wednesday during a 2 1/2-hour nomination hearing, is president of the Lawyers’ Committee for Civil Rights Under Law. She would be the first Black woman to hold the position since the Justice Department’s Civil Rights Division was established in 1957. Center for Responsible Lending Executive Vice President Nikitra Bailey issued the following statement: Kristen Clarke’s upcoming confirmation...
April 13, 2021
WASHINGTON, D.C. – Today, the U.S. Department of Housing and Urban Development (HUD), led by Secretary Marcia Fudge, announced steps to restore two key fair housing rules that the Trump Administration had gutted: (1) a regulation on the "disparate impact" standard for proving discrimination and (2) a regulation for the dismantling of segregation, as required by the Affirmatively Furthering Fair Housing (AFFH) section of the 1968 Fair Housing Act. The Office of Management and Budget posted notices indicating that the HUD rules have been accepted for review. "President Biden and Secretary...
April 13, 2021
Washington, D.C. — Today, over 415 organizations sent an updated letter to President Biden and Vice President Harris, calling on them to use executive authority to cancel federal student debt immediately. In the letter, the 416 advocacy groups highlight that cancelling student debt would stimulate the economy, help reduce racial wealth gaps, and could have a positive impact on health outcomes. The groups write that “executive action is one of the few available tools that could immediately provide a boost to upwards of 44 million borrowers and the economy.” Further, this action would be an...
April 12, 2021
WASHINGTON, D.C. –Yesterday, a 20-year-old unarmed Black man was killed during a traffic violation stop in a suburb of Minneapolis. Center for Responsible Lending President Michael Calhoun made the following statement: We offer the family of Daunte Wright, who was a beloved father and son, our sympathy, as we support the Black community and their allies who are expressing their pain and rage just miles from where a former police officer is being tried for the murder of George Floyd. Black Americans are living in fear for themselves and their families because police are not being...
March 25, 2021
330+ groups representing all 50 states and the District of Columbia called for Congress to support a resolution to overturn a rule that helps triple-digit interest rate loans spread across the country by evading state and voter-approved interest rate caps WASHINGTON, D.C. – The Center for Responsible Lending (CRL) applauds Senators Chris Van Hollen (D-MD), Sherrod Brown (D-OH), and Congressman Chuy García (IL-4) for introducing Congressional Review Act resolutions to eliminate a Trump-era regulation that helps lenders charging 179% APR or more and evade state- and voter-approved interest...

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