Letter to Director Cordray from Payday Non-Authorization States
From the letter: We, the undersigned organizations, are based in states throughout the U.S. that ban payday lending and other types of high-cost, predatory small-dollar loans. We write to you from our perspectives as military associations, social service providers, faith leaders, affordable housing agencies, legal service providers, labor organizers, and civil rights advocates. Read the entire letter. (PDF)
Oppose HR 1737 Reforming CFPB Indirect Auto Financing Guidance Act
H.R. 1737 would frustrate efforts to crack down on discriminatory auto lending practices. The bill places unnecessary restrictions on CFPB oversight of auto lending, including interest rate markups that cost consumers tens of billions of dollars and have been found to violate fair lending practices through a differential impact on minority purchasers of automobiles. The restrictions in this bill do...
Student Lending Servicing Comment July 2015
On July 13 CRL submitted this comment letter detailing its concerns with the state of student loan servicing.
CRL Comments to the Department of Education July 2015
Comment of the Center for Responsible Lending and the National Consumer Law Center (on behalf of its low income clients) on the Proposed Amendments to the Cash Management Rule, 34 C.F.R. Part 668. Also see broad coalition comments to the Department of Education
Letter to Congress – About HR 650, The Preserving Access to Manufactured Housing Act
In this letter (2 pages), 16 consumer, civil rights, and housing groups ask Members of Congress to oppose H.R. 650, The Preserving Access to Manufactured Housing Act 2015. The groups argue that the bill would roll back protections established by the landmark Dodd Frank Wall Street Reform and Consumer Protection Act and hurt low and moderate income families. The groups...
Advocates Support Proposed Restrictions on Bank Payday Lending
We write to thank the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) (collectively, the Agencies) for the proposed guidance addressing bank payday lending, particularly the underwriting requirements and limits on repeat loans. These critical provisions address a central problem with payday lending: lenders’ failure to verify the borrower’s ability to repay the...
CRL Remarks at CFPB Credit Reporting Field Hearing
Remarks by Bill Sermons, Research Director from the Center for Responsible Lending, before the Credit Reporting Field Hearing convened by the Consumer Financial Protection Bureau in Detroit, Michigan on July 16, 2012.