Press Releases

SB 818 would renew mortgage and foreclosure safeguards, such as the right to appeal when a loan modification application is denied. SACRAMENTO, CALIF. – Today, the California Senate passed SB 818, a bill to restore key provisions in California’s landmark “Homeowner’s Bill of Rights” (HBOR) legislation which passed in 2012 in response to the foreclosure crisis. HBOR has prevented thousands...

WASHINGTON, D.C. – Mick Mulvaney, the unlawful Acting Director of the Consumer Financial Protection Bureau (CFPB), announced today that he is closing the Bureau’s Office of Students and folding it into the Office of Financial Education. The closure is the latest in a series of actions and proposals that threaten to undermine the consumer protections that have been put into...

Only 12% of Marylanders think that U.S. Department of Education is doing a good job overseeing student loan servicers. WASHINGTON, D.C. – Today, the Center for Responsible Lending (CRL) released a poll showing that 91% of Maryland voters agree that the State of Maryland to has a responsibly to protect residents with student loan debt. This includes high level of...

WASHINGTON, D.C. – Today, the U.S. House of Representatives voted to pass S.J. Res 57, a Congressional Review Act (CRA) resolution to undo the Consumer Financial Protection Bureau’s (CFPB) 2013 indirect auto lending guidance, which was put in place to limit the discriminatory impact of dealer interest rate markups in the auto lending market. This is a first-of-its-kind vote, abusing...

50 years after the Fair Housing Act, racial mortgage disparities persist WASHINGTON, D.C. –The Federal Housing Administration (FHA) is both a historic driver of the nation's persistent racial wealth gap and a necessary part of any solution for the nation's housing market, finds new research from the Center for Responsible Lending (CRL). Although FHA has been and remains central in...

WASHINGOTN, D.C. – The Center for Responsible Lending (CRL) joined The Leadership Conference on Civil and Human Rights and 46 other national civil rights organizations in announcing new principles for the reauthorization of the Higher Education Act (HEA). The principles are rooted in boosting college access for all students and addressing the student loan debt crisis. The HEA was first...

At bankers’ conference, Mick Mulvaney signaled that the CFPB would prevent public access to the Consumer Complaint Database – a critical tool for spotting patterns of financial abuse. WASHINGTON, D.C. – Yesterday, amidst his revealingly nonchalant remarks about engaging in pay-to-play politics as a Congressman, Mick Mulvaney, the Consumer Financial Protection Bureau’s (CFPB) illegitimate Acting Director, told 1,300 bankers and...

WASHINGTON, D.C. - A New York Times story has reported that Mick Mulvaney, the unlawful Acting Director of the Consumer Financial Protection Bureau (CFPB) and the current Director of Office and Management and Budget (OMB), told more than 1,000 bankers and lending industry officials at the American Bankers Association’s (ABA) Government Relations Summit in Washington, D.C., that when he was...

*** MEDIA ADVISORY FOR WEDNESDAY, MAY 2, 2018 *** WASHINGTON, D.C. – On Wednesday, May 2, at approximately 8:45 a.m. ET, the Center for Responsible Lending (CRL), NAACP, National Fair Housing Alliance, National Coalition for Asian Pacific American Community Development, The Leadership Conference on Civil and Human Rights, National Urban League, and other national civil rights organizations will convene in Washington...

WASHINGTON, D.C. – Today, the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) issued a $1 billion fine against Wells Fargo, ordered the bank to make restitution to customers harmed by its practices, and required certain management changes. The enforcement action was triggered by the bank’s auto finance practices over recent years that...