CRL in the News

“We haven’t made any progress in homeownership since the passage of the Fair Housing Act in 1968,” said Nikitra Bailey, an executive vice president with the Center for Responsible Lending, a nonprofit that researches abusive lending practices. “The little progress we did make has been wiped away by the foreclosure crisis.”

Be very wary of a contractor or other professional who is pushing you to take out a loan or steering you toward a specific lender or loan broker, says Sarah Wolff, former senior researcher for the Center for Responsible Lending.

HR 3299 and HR 4439 would clear the way for payday lenders to evade state usury laws and make loans with triple-digit interest rates, by making deals to operate under a bank's charter. Diane Standaert, executive vice president and director of state policy with the Center for Responsible Lending, called it a "rent-a-bank" scheme that would void any state consumer-protection...

“The numbers show that our current system is not working, and that higher education is not providing the pathway to financial stability that it once accomplished,” said Ashley Harrington, Policy Counsel and Special Assistant to the President of the Center for Responsible Lending. “We need federal and state policymakers to take concrete steps to effectively address this crisis, such as...

Ashley Harrington, special assistant to the president at the Center for Responsible Lending, a nonprofit aimed at fighting predatory lending practices, wants the government to change the way it sets federal student loan interest rates.

“Fifty years ago, Congress empowered HUD to dismantle legalized discrimination in housing to create opportunity for all as where you live is a factor in so many of life’s outcomes, including education and healthcare,” noted Nikitra Bailey, an EVP with the Center for Responsible Lending (CRL). “Rep. Waters’ new bill requires HUD to remain steadfast in its responsibility to foster...

Regardless of whether Otting has personally experienced discrimination, his position requires that he effectively enforce fair-lending laws, including the Community Reinvestment Act — a law that was enacted to address divestment in communities comprised of low-to-moderate income families, people of color and rural residents. The CRA has done important work to drive financial equity and ensure banks serve all communities...

Of course, many borrowers might still be better off with loan forgiveness. But according to Ashley Harrington, a staff member at the Center for Responsible Lending, the problem is that most borrowers don’t realize this tax bill is coming. Harrington told the WSJ she is concerned about the average borrower’s ability to pay.

“The CRA has done important work to drive financial equity and ensure banks serve all communities where they have a financial footprint,” noted Scott Astrada, Federal Advocacy Director with the Center for Responsible Lending. “Comptroller Otting’s proposal to radically restructure the law should be closely scrutinized because, given his remarks, he is apparently oblivious to the historic and systemic discrimination...

The CFPB needs these liberties, supporters say, to maintain its primary purpose in protecting American consumers of financial products and services. Within its seven years of operation, the CFPB has supplied 31 million Americans with over $12.4 billion in relief funds in cases of illegal financial dealings. “The 2008 financial crisis proved the need for the CFPB, a successful independent...