Press Releases
March 11, 2021
WASHINGTON, D.C. – Today, Center for Responsible Lending (CRL) Federal Advocacy Director and Senior Counsel Ashley Harrington testified at a virtual hearing held by the House Financial Services Subcommittee on Consumer Protection and Financial Institutions entitled “Slipping through the Cracks: Policy Options to Help America’s Consumers during the Pandemic.”
In her testimony, Harrington discussed the need for actionable policy solutions to protect consumers suffering from the economic downturn, curb predatory lending, and provide access to safe, affordable credit to ensure more Americans...
March 10, 2021
WASHINGTON, D.C. – Today, Nikitra Bailey, an Executive Vice President at the Center for Responsible Lending (CRL), testified at a virtual hearing held by the House Financial Services entitled “Justice for All: Achieving Racial Equity Through Fair Access to Housing and Financial Services: Testimony before the House Financial Services Committee.”
In her testimony, Bailey highlighted our nation’s discriminatory housing policies as the cause of many systemic injustices and discussed the need to implement more policies that ensure equity for Black and brown communities.
“Much work remains in the...
March 10, 2021
WASHINGTON, D.C. – Today, the U.S. Senate, in a bipartisan vote, confirmed Congresswoman Marcia Fudge (D-Ohio) to be Secretary of the U.S. Department of Housing and Urban Development (HUD). The Center for Responsible Lending (CRL) had joined a broad coalition in support of her confirmation.
Center for Responsible Lending Executive Vice President Nikitra Bailey, issued the following statement:
Secretary Fudge brings to HUD the experience needed to address the immense housing challenges brought by COVID-19 and the economic downturn – which have disproportionately hit Black and brown...
March 8, 2021
WASHINGTON, D.C. – Last week, Dr. Miguel Cardona was confirmed as the Secretary of Education by the U.S. Senate.
Federal Advocacy Director for the Center for Responsible Lending (CRL) Ashley Harrington made the following statement:
Secretary Cardona’s confirmation bodes well for student borrowers, millions of whom are bearing unmanageable student debt as a result of federal policy choices and failures. We look forward to working with Secretary Cardona to reboot a system that has diminished the promise of higher education as a pathway to the American dream. We appreciate his acknowledgement...
March 6, 2021
WASHINGTON, D.C. – Today, the U.S. Senate passed President Biden’s $1.9 trillion stimulus plan. Due to substantive changes in the bill, the measure must return to the House floor for a vote before it can reach the President’s desk.
Under the legislation, stimulus checks would phase out entirely for individuals earning more than $80,000, federal unemployment benefits were kept at $300 a week through September, and Paycheck Protection Program (PPP) eligibility for small businesses was expanded. The bill also directs billions toward rental and homeowner assistance.
Center for Responsible...
March 4, 2021
WASHINGTON, D.C. – Late Wednesday, the House addressed important issues key to anti-corruption and safeguarding our democracy. The first, HR1—or the For the People Act—would overhaul government ethics and campaign finance laws and seek to strengthen voting rights by creating automatic voter registration and expanding access to early and absentee voting. The other, The George Floyd Justice in Policing Act, bans chokeholds and no-knock warrants and reforms qualified immunity for law enforcement—making it easier to pursue claims of police misconduct.
Nikitra Bailey, Executive Vice President...
March 2, 2021
WASHINGTON, D.C. – Today, the Senate confirmed Dr. Cecilia Rouse as Chair of the Council of Economic Advisers (C.E.A.) by a 95 to 4 vote—making her the first Black leader in its 75-year history.
Center for Responsible Lending Executive Vice President Nikitra Bailey released the following statement today on her confirmation:
Dr. Cecilia Rouse has long focused on discrimination and the harmful influences that have kept people of color from building wealth in America. Her historic appointment and her attention to solutions-oriented policies that help historically disadvantaged groups—...
March 1, 2021
OAKLAND, Calif.– The Center for Responsible Lending (CRL), Public Counsel, Western Center on Law and Poverty (WCLP), Fines and Fees Justice Center (FFJC), Community Legal Services in East Palo Alto (CLSEPA), The Insight Center, and Legal Services for Prisoners with Children (LSPC) filed an amicus brief today in support of the petitioner in California v. Kopp before the California Supreme Court. The petitioner argued that trial courts must hold ability-to-pay hearings before imposing fines and fees – or legal financial obligations (LFOs) – on criminal defendants.
The brief explains that...
February 23, 2021
Without needing action from Congress, the plan lays out a path for utility regulation of Fannie and Freddie and for dedicating nearly $100 billion toward addressing the country’s housing needs
WASHINGTON, D.C. – Today, the Brookings Institution published a new report by Mike Calhoun, President at the Center for Responsible Lending (CRL), and Lewis Ranieri, Chairman and CEO of Raneiri Solutions LLC, that proposes administrative reforms of Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) that would greatly advance racial and economic justice. The report, Government-...
February 22, 2021
WASHINGTON, D.C. – Today, President Biden and the Small Business Administration announced several important improvements to the Paycheck Protection Program (PPP) designed to help small businesses survive the pandemic economy. The $800 billion PPP had structural flaws since its inception that favored larger, more well-resourced businesses. Nearly 95% of Black-owned firms and 91% of Latino-owned firms have no employees beyond the owners, as compared to 78% of white-owned firms.
Starting this Wednesday, February 24, PPP approvals will be restricted to businesses with 20 or fewer employees for...