Skip to main content

Search form

Press Releases

July 24, 2020
WASHINGTON, D.C. - This week, President Trump issued an unconstitutional memorandum barring undocumented immigrants from being counted in the Census when lawmakers redraw Congressional Districts next year. Center for Responsible Lending President Mike Calhoun released the following statement: This unconstitutional memorandum is effectively robbing immigrants of their humanity, agency, and dignity as contributing and integral members of American society and culture. Undocumented people deserve to be counted and live in communities where they’re treated and represented fairly. The...
July 23, 2020
Fair housing advocates denounce Trump’s newest effort to eliminate a critical tool to desegregate communities and call on the president to instead concentrate on ensuring housing equity during a pandemic. Washington, D.C.- Today, a coalition of civil rights, affordable housing and consumer advocacy organizations condemned the move by the Trump administration to eliminate a critical tool for addressing systemic racism and segregation in our communities. In its haste to undermine this central component of the Fair Housing Act, the administration has done an end run around the normal...
July 21, 2020
On Thursday, July 23, CRL to host virtual discussion to commemorate Dodd-Frank anniversary with special introductions by Congresswoman Maxine Waters & U.S. Senator Elizabeth Warren View virtual talk and RSVP details. WASHINGTON, D.C. – Center for Responsible Lending (CRL) President Mike Calhoun released the following statement marking the 10-year anniversary since the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law: Dodd-Frank is landmark legislation that has given consumers, especially low-income Americans and consumers of color, a much-needed and...
July 21, 2020
OCC Seeks to Bless Bank/Payday Lender Partnerships that Enabled Evasion of NC Usury Caps in Early 2000’s Durham, NC — Yesterday, the Office of the Comptroller of the Currency (OCC) proposed a rule that would allow predatory lenders to partner with out-of-state banks for the purpose of evading North Carolina’s interest rate cap. The “true lender” rule would enable the same situation that the North Carolina Banking Commissioner put a stop to in 2006. Payday lenders like Advance America were operating all over the state, charging annual interest rates up to 400%, which violated North...
July 20, 2020
Bank regulator’s plan would facilitate triple-digit interest rate loans that violate state rate cap laws WASHINGTON, D.C. – Today, the Office of the Comptroller of the Currency (OCC) proposed a so-called “true lender” rule that would facilitate fraudulent “rent-a-bank” schemes where a non-bank lender forms a superficial partnership with a bank in order to charge interest rates beyond what state law allows non-banks to charge. Center for Responsible Lending (CRL) Director of State Policy Lisa Stifler issued the following statement: The last thing we need now are more predatory, high...
July 20, 2020
For Planning Purposes: ***Advisory for Thursday, July 23, AT 3:30 p.m. ET/ 12:30 p.m. PT*** The Civil Rights Fight Behind Dodd-Frank: A Reflection of the Last Decade With special speakers: Congresswoman Maxine Waters & U.S. Senator Elizabeth Warren WASHINGTON, D.C. - On Thursday, July 23, at 3:30 p.m. ET/ 12:30 p.m. PT, the Center for Responsible Lending (CRL) will host a virtual panel discussion to commemorate 10 years since the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which established the Consumer Financial Protection Bureau (CFPB). The...
July 18, 2020
WASHINGTON, D.C. – Center for Responsible Lending Executive Vice President Nikitra Bailey released the following statement today on the passing of civil rights hero U.S. Congressman John Lewis: We are heartbroken by the passing of Congressman John Lewis. His steadfast leadership and immeasurable contribution to the civil rights movement’s fight for freedom and justice changed the course of our nation’s history. He was the son of sharecroppers who became a devoted public servant continuing to push America towards her ideals along the way. He truly embodied what it means to be an American...
July 15, 2020
Student Debt Cancellation Will Boost the Economy and Create Jobs Washington, D.C. — Today, 101 civil rights, consumer and advocacy organizations and think tanks sent a joint letter to House and Senate leadership, urging them to include student debt cancellation in the next economic stimulus package. Led by Center for Responsible Lending, American for Financial Reform, Demos, and Freedom to Prosper, the letter stresses the ways that if left unaddressed, the student debt trap will deepen our current recession, slow our economic recovery, exacerbate inequality, and deepen a crisis already...
July 15, 2020
Bank of America, Quicken Loans, Citi , Wells Fargo, National Association of Realtors call on HUD to hold off on issuing a final Disparate Impact Rule WASHINGTON, D.C. – Today, leading civil rights groups commended mortgage lenders and industry leaders now advocating for the Department of Housing and Urban Development (HUD) to refrain from issuing a final Disparate Impact rule. These civil rights organizations are also renewing their own push for the agency to pull its dangerous proposal that would gut longstanding civil rights protections for addressing systemic racism in housing. Like...
July 7, 2020
As families are knocked down by the COVID-19 public health and economic crisis, the CFPB keeps families exposed to financial ruin from unaffordable 400% interest rate loans WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau’s (CFPB) Trump-appointed Director Kathy Kraninger released a final rule that eliminates basic protections from payday and car-title loans that trap consumers in debt. Today’s action guts the 2017 CFPB Payday Rule by eliminating that rule’s main consumer protection: the commonsense requirement that lenders verify borrowers have the ability to repay a loan...

Pages