Press Releases

News Report Indicates Senate Might Vote Imminently to Take Away Consumers’ Right to Sue Financial Companies for Wrongdoing WASHINGTON, D.C. – As reported by Politico, the “Senate GOP leadership is considering holding a vote later this week on legislation that would block a CFPB [Consumer Financial Protection Bureau] rule prohibiting banks and credit card companies from forcing their customers into...

WASHINGTON, DC. - Today and as part of the annual Congressional Black Caucus Foundation’s 47 th Annual Legislative Conference, the National Association of Real Estate Brokers (NAREB) will convene a panel of housing stakeholders this afternoon. The session entitled, “ State of Housing in Black America: Considering the Future,” will examine mortgage industry practices, and whether the Dodd-Frank Wall Street...

Senate and House Legislation would end the payday lending debt trap WASHINGTON, D.C. – Today, the Center for Responsible Lending (CRL), Americans for Financial Reform (AFR), and nearly 40 national and state organizations sent a letter urging Members of Congress to pass the Protecting Consumers from Unreasonable Credit Rates Act, a bicameral bill introduced by U.S. Senators Richard Durbin (D-Ill.)...

WASHINGTON, D.C. – According to the Consumer Financial Protection Bureau (CFPB), the National Collegiate Student Loan Trusts and their debt collector, Transworld Systems, Inc. together filed more than 2,000 illegal student loan debt collection lawsuits between 2001 and 2007. The actions were violations of the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act. Specifically, the lawsuits filed lacked required...

WASHINGTON, D.C. – Today, the Center for Responsible Lending (CRL) and Americans for Financial Reform (AFR) released a bipartisan poll that finds voters across the country overwhelmingly support policies that allow student loan borrowers to refinance their loans (91% in favor), enroll into affordable payment options based on income (90% in favor), and have their debt forgiven after 10 years...

S. 1642 & H.R. 3299 enable out-of-state lenders to use "rent-a-bank" scheme to preempt state interest rate caps WASHINGTON, D.C. – Today, the Center for Responsible Lending (CRL), the National Consumer Law Center (NCLC), and more than 150 national and state organizations sent a letter urging Members of Congress to reject S. 1642 and H.R. 3299, the Protecting Consumers’ Access...

Urges Congress to Immediately Pass the Dream Act WASHINGTON, D.C. - The Center for Responsible Lending (CRL) is appalled at the Trump administration's decision to end the Deferred Action for Childhood Arrivals (DACA) program in six months. With this action, the administration manufactures an unnecessary humanitarian and economic crisis for immigrant youth, their families, and the communities where they live...

WASHINGTON, D.C. – U.S. Secretary of Education Betsy DeVos recently announced that the Department will stop working with the Consumer Financial Protection Bureau (CFPB) in oversight cases of student loan fraud. The partnership to share information between the two federal agencies had been in place since 2011 and has been responsible for providing students with relief after being defrauded by...

Fed Chair Yellen, Vice Chair Fischer, FDIC Chair Gruenberg, and European Center Bank President Draghi Defend Safeguards Enacted After Financial Crisis WASHINGTON, D.C. – Today, the Center for Responsible Lending (CRL) highlighted that central bank leaders and the Chair of the FDIC have recently sounded the alarm over proposals to eliminate regulatory safeguards established after the financial crisis and refuted...

Roberts v. Capital One Financial Corporation alleges bank misled customers; Capital One’s practice of multiplying overdraft fees harms low-income customers, drives people from banking system WASHINGTON, D.C. – The Center for Responsible Lending (CRL), National Consumer Law Center (NCLC), and New Economy Project filed an amicus brief in Roberts v. Capital One Financial Corporation, in support of the plaintiff, Tawanna...