CRL in the News

"While Ms. Kraninger's own status as one of 44 million Americans with outstanding student loan debt provides her with some insight, this is but a drop compared to a tidal wave of evidence weighing against her nomination," said Ashley Harrington, counsel at the Center for Responsible Lending. "Student borrowers need a director who will be their champion - she is...

“Mulvaney’s decision to halt the CFPB from moving forward on addressing abusive overdraft fee practices will severely impact poor families and communities of color,” said Rebecca Borne, senior policy counsel at the Center for Responsible Lending.

Many Americans have felt the frustration of getting the run-around from a customer service agent or finding an unhelpful recording at the end of a financial company’s complaint line. When someone has been cheated out of money and their family’s wellbeing is at stake, this experience is more than an annoyance — it’s an injustice that for too long left...

“When you’re dealing with primary residences, that’s a situation that could have potential lifetime repercussions,” said Scott B. Astrada, director of federal advocacy for the Center for Responsible Lending. “Some of the models I’ve seen raise a lot of questions and concerns that we don’t have answers to yet — and I don’t think anyone does.” He also questioned what...

Many African American households are worse off than they were 30 years ago. About eight percent of African-American homeowners lost their properties to foreclosure from 2007 to 2009, according to estimates from the Center for Responsible Lending. Also, only 43% of black people owned homes in 2017 , according to an annual report from the Joint Center for Housing Studies...

“Mulvaney’s decision to halt the CFPB from moving forward on addressing abusive overdraft fee practices will severely impact poor families and communities of color,” said Rebecca Borne, Senior Policy Counsel at the Center for Responsible Lending in response.

"We need a CFPB director that's going to hold Wall Street accountable and transparent to the public, someone with a proven track record of going to bat for consumers - Kathy Kraninger is not that person," said Debbie Goldstein, executive vice president of the Center for Responsible Lending.

“Kathy Kraninger’s nomination is just a political play for Mick Mulvaney to cement his anti-consumer agenda at the CFPB,” said Debbie Goldstein, executive vice president at the Center for Responsible Lending. “She has no experience in protecting Americans from predatory lenders and has a record of mismanagement that’s harmed families across the country.”

Many African American households are worse off than they were 30 years ago. About eight percent of African-American homeowners lost their properties to foreclosure from 2007 to 2009, according to estimates from the Center for Responsible Lending. Only 43% of blacks owned homes in 2017, according to an annual report from the Joint Center for Housing Studies of Harvard University.

Lindblad said redlining — the government-sanctioned practice of restricting home loans for people of color to certain areas — and other bad lending practices disproportionately hurt communities of color. That has resulted in more foreclosures and vacant homes in some neighborhoods. When homeownership is done right, Lindblad said the sense of stability can boost a person’s health, strengthen the surrounding...