CRL in the News

Some cash advance apps push customers to pay a “tip” to the app to be able to access their funds. The term “tip” is effectively a way for apps to disguise fees, said Yasmin Farahi, deputy director of state policy and senior policy council at the Center for Responsible Lending. Consumers often don’t know that these fees are optional and...

Consumer advocates criticized Republican efforts to roll back the aid. “We condemn this move to block a plan that will provide significant financial relief to low-income borrowers and communities of color,” said Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending.

Consumer advocates have expressed disapproval of Republican initiatives to reduce aid. "We condemn this move to block a plan that will provide significant financial relief to low-income borrowers and communities of color," said Jaylon Herbin, director of federal campaigns at the Center for Responsible Lending, as reported by CNBC.

"We condemn this move to block a plan that will provide significant financial relief to low-income borrowers and communities of color," said Herbin. "SAVE provides hope for borrowers as the administration continues to fight alongside advocacy groups to find other ways to achieve broad-based student loan relief. We continue to support President Biden in his quest to make our educational...

The latest research from CRL suggests that for consumers who repeatedly pay fees and "tips" for expedited EWA funds through popular third-party EWA service providers like MoneyLion, Earnin and Dave, it amounts to a digital payday loan. In a survey CRL conducted in May among 300 users of direct-to-consumer EWA services, 39% said they feel like they must keep on...

While the 1963 March on Washington brought more than 200,000 Americans to the nation’s capital in a historic call for jobs and economic justice, an event billed as a ‘continuation’ – not a commemoration will take place August 26 at the Lincoln Memorial. Co-sponsored by the National Action Network and the Drum Major Institute, organizers will focus on continuing the...

“Frankly the direct-to-consumer model is just a garden variety payday loan,” said Andrew Kushner, senior policy counsel at the Center for Responsible Lending.

“The CFPB’s funding structure is constitutional and critical to ensuring that it can carry out its consumer protection mission free from undue industry influence,” wrote community development credit unions and financial institutions in a May amicus brief.

The Center for Responsible Lending (CRL) commends President Biden for exploring new options to provide relief. In the meantime, here are eight ways borrowers can prepare for repayment...

Banks that are starting to work with EWA providers to streamline connections for their commercial customers should pay close attention to what's happening in this tug-of-war over whether EWA will be considered a loan or not—according to Andrew Kushner, who is policy counsel of the nonprofit Center for Responsible Lending, which analyzes financial practices and works with the industry and...