CRL in the News

The Center for Responsible Lending also opposed the bill last month, saying in a press release that if the legislation becomes law it would exempt some EWA services “from laws that help stop lenders from fleecing consumers.”

Several factors are making buying cars more expensive, said Lucia Constantine, a senior researcher at the Durham-based Center for Responsible Lending. In recent years, vehicles have become pricier, thanks to the COVID-19 pandemic and resulting supply chain issues, not to mention new tariffs implemented by the Trump administration, Constantine said. Cars also incorporate more technology than before, which adds to...

Advocacy group Center for Responsible Lending conducts research and promotes financial fairness. “Anything could happen, because it is litigation. We see that the courts every day are overturning something that has been done years ago, and so they can overturn it, or they can affirm what is already in place right now,” said Jaylon Herbin, the director of federal campaigns...

By Mike Calhoun With the recent passing of former Rep. Barney Frank (D-Mass.), let’s remember and recommit to a central component of his legacy: stopping the predatory lending that had caused millions to lose their homes. President Trump recently signed an executive order, “Promoting Access to Mortgage Credit,” directing federal regulators to review protections established by the landmark law authored...

“The CFPB has put more than $21 billion back into consumers’ pockets, underscoring that a strong and independent watchdog can make a real difference in the lives of millions of American families,” said Mike Calhoun, president of the Center for Responsible Lending. “This legislation would help safeguard the agency's ability to continue protecting families from financial abuse, policing unfair practices...

“Elements of solar financing products and sales processes are identical to those used by predatory subprime lenders in 2007,” according to a report by the Center for Responsible Lending. Anneliese Lederer, a senior policy counsel at the organization, described cases in which aggressive sales tactics targeted lower-income homeowners. “Certain financial companies and poor actors were working in ways to strip...

“Borrowers are facing a great deal of confusion and anxiety ahead of the changes,” said Jaylon Herbin, ‌director of federal campaigns at the Center for Responsible Lending, a consumer advocacy organization. “We’re encouraging borrowers to carefully review all available repayment options before enrolling in a new plan,” Herbin said. Here’s what to know about the two new repayment options coming...

Ambition Without Access, a newly released study by the Julian Bond Institute (JBI), an initiative of the Center for Responsible Lending (CRL), is the first nationally representative look at how wealth and financial aspirations differ across race and generations particularly for Blacks and Latinos.

Amid historic affordability challenges in the U.S., a new study released today by the Julian Bond Institute for Financial Equity Research (JBI) debunks preconceived notions that younger, more diverse generations lack motivation to contribute to the economy.

As of this writing, 21 states and the District of Columbia have outlawed triple-digit interest rates on payday loans and similar credit products. These hard-won consumer victories largely stopped lenders from trapping people in triple-digit interest rate debt — key strides towards financial freedom.