Wait, Banks Can Shut Off My Car?

Jaeah Lee | Mother Jones
If payment assurance devices really reduced risk for subprime lenders, we should expect to see lower interest rates on those loans, counters Lisa Stifler, an attorney with the Center for Responsible Lending. "The reality is that subprime dealers continue to make loans at interest rates that are at the state maximum," she says. "They're accounting for risk with the interest rates and putting on these devices."

Be Wary of (Loan) Sharks in Sheep’s Clothing

Reverend Willie Gable Jr, The Washington Post
One can never truly know the heart of another person. But I can’t help but wonder whether Rod Aycox, owner of a national chain of car title loan stores, saw the tragic shooting of nine men and women at Emanuel African Methodist Episcopal Church last June as an opportunity to buy off his most effective critics. How else can one explain the announcement, in the wake of the murders, that he was donating $1 million to organizations that promote and protect civil rights — after years of making a fortune ripping off low-income people of color? Aycox and his peers in the low-dollar, outrageously high

Mortgage Discrimination: What to Do If It Happens to You

Hal M. Bundrick, CFP | Nerdwallet
“I am hopeful that many of the unfair practices that we saw in the marketplace, particularly during the recent foreclosure crisis, are no longer present,” Nikitra Bailey, executive vice president with the Center for Responsible Lending, tells NerdWallet. The passage of Dodd-Frank regulations sought to stem mortgage lending abuses such as balloon payments, teaser interest rates and high fees — called “fee packing.”

Will America Ever Create an Opportunity Economy For All?

Charlene Crowell | The Washington Informer
"As communities of color continue to suffer from financial stress, a new research report provides insights as to how the racial wealth divide is in large part created by policy trends that favor the well-to-do at the expense of the majority of the nation..."

CRL Joins NAACP’s Journey for Justice in Call for Fair and Equal Access to Financial Services

Charlene Crowell | The Saint Louis American
“Economic inequality has long been a major concern in the civil rights community,” observed Nikitra Bailey, CRL executive vice president. “It is essential that lending practices are fair, transparent, and do not rob American families of their opportunity to exist securely in the middle class. There is no place for financial apartheid in our financial services sector.”

Feedback on Supreme Court’s Housing-Law Ruling

Lisa Prevost | The New York Times
Data collected in 2014 under the Home Mortgage Disclosure Act showed that of 1.6 million conventional purchase mortgage loans originated the previous year, less than 15 percent went to borrowers of color, according to Nikitra Bailey, an executive vice president of the Center for Responsible Lending .

HUD Offers New Tools for Fair Housing Compliance

Jann Swanson | Mortgage News Daily
The Center for Responsible Lending praised the new rule. Its executive vice president Nikitra Bailey said that when people live in communities of opportunity they are more likely to prosper and when they don't they often end up paying more for mortgages and basic financial services which cripples their ability to save, build wealth, and drains money that could be used to help them climb the economic ladder. "Today's rule will help address a legacy of racial segregation tied to housing patterns that continue to contribute to growing economic inequality. Coupled with the historic Supreme Court