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Press Releases

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...
March 25, 2021
WASHINGTON, D.C. – Today, the U.S. Senate voted overwhelmingly to extend the Paycheck Protection Program (PPP) through June 30, 2021. Center for Responsible Lending Director of Advocacy Ashley Harrington issued the following statement: We applaud the U.S. Senate for joining the House in extending the Paycheck Protection Program, and urge President Biden to quickly sign the bill into law. The PPP is a lifeline for small businesses, including many Black and Latino-owned businesses that are vital to their communities. The $800 billion PPP was implemented quickly, with little attention...
March 23, 2021
DURHAM, N.C. – Today, Governor J.B. Pritzker is signing the Illinois Predatory Loan Prevention Act, which caps annual interest on consumer loans at 36%. The bill was part of a package put forth by the Legislative Black Caucus to address racial inequities in the state. It will save Illinois families more than $500 million per year in predatory fees and provide protections covering more than 12 million people. It passed the legislature with bipartisan support and by wide margins. Payday and car title loans typically charge over 300% annual interest in Illinois and trap borrowers in a long-...
March 22, 2021
Only a majority vote in Congress would be needed to overturn rule that helps triple-digit interest rate loans evade state and voter-approved interest rate caps and spread across the country WASHINGTON, D.C. – With just a few days left before a crucial deadline, the Center for Responsible Lending (CRL) today joined a broad coalition of organizations is calling for Congress to eliminate a Trump-era regulation that took effect in December and could “unleash predatory lending in all fifty states.” The rushed “fake lender” rule, which was issued by the Office of the Comptroller of the Currency...
March 18, 2021
Borrower Bill of Rights Would Provide Oversight of Loan Servicers St. Paul, MN — A student debt crisis of epic proportions is causing stress and strain for Minnesotans who are struggling to repay their loans and putting off other bills, according to a Morning Consult survey commissioned by the Center for Responsible Lending (CRL) and Education Minnesota (EDMN). Three-quarters of respondents report stress from their student loans, and results indicate that student loan servicers are not providing crucial information to help borrowers manage their payments. From the survey:...
March 18, 2021
WASHINGTON, D.C. – Yesterday, over 60 community development, civil rights, and small business groups urged Congress to extend the Paycheck Protection Program (PPP) until June 30, 2021. The House voted overwhelmingly to extend the program, but the Senate has not yet voted. The group also called for a recent rule change in how loan amounts are calculated to be made retroactive. From the coalition’s letter: In this public health and economic emergency, we must do all we can to make sure our small businesses have the support and assistance they need to weather the crisis. That must be...
March 17, 2021
California-based Oportun has filed the most debt collection cases in the state and sues to intimidate its mostly Latino customer base WASHINGTON, D.C. – A new report released today by the Center for Responsible Lending (CRL) offers new evidence that Oportun, the California-based financial services provider that also operates in eight other states, regularly engages in egregious, abusive, and intimidating debt collection practices in California. The report finds that Oportun has been a top filer of cases in California since 2018; that the company sues to intimidate its mostly Latino...
March 17, 2021
WASHINGTON, D.C. – Eight people were killed Tuesday night in three shootings that occurred in the metro-Atlanta area. Six of the victims were Asian women. While officials have yet to determine the motive of the attacks, these shootings occurred at a time when, as documented by recently released reports, violent attacks and harassment against people of Asian descent has surged nationwide. Nikitra Bailey, executive vice president at the Center for Responsible Lending (CRL), issued the following statement: We strongly condemn last night’s shootings in Georgia. Our hearts go out to the families...
March 16, 2021
WASHINGTON, D.C. – Today, the U.S. Senate, in a bipartisan vote, confirmed Isabel Guzman to head the Small Business Administration (SBA). Ms. Guzman previously led California’s Office of the Small Business Advocate and served as SBA deputy chief of staff during the Obama Administration. Center for Responsible Lending Director of Latino Affairs Aracely Panameño issued the following statement: At this critical time for small businesses in America, we congratulate and welcome Isabel Guzman as the new SBA Administrator. We are optimistic that with her strong leadership and substantial track...

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