Research

A post-secondary education is increasingly necessary in order to obtain a high-quality job and a lifetime of financial security and wealth-building opportunities. Many students finance their education through student loans because they see its value as an investment in their future. However, according to the research presented in this paper, the value of that investment is questionable for those students...

The 2013 mortgage data submitted by lenders under the Home Mortgage Disclosure Act (HMDA) reflects a slowly recovering mortgage market that troublingly continues to under-serve important market segments. People of color and low and moderate-income families continue to receive a far lower share of mortgage loans than they have historically and than would be expected based on the composition of...

On September 16, CRL President Mike Calhoun delivered testimony before the Senate Banking Committee at a hearing called " Examining the State of Small Depository Institutions." In his testimony, he discussed the important role that small lenders and credit unions provide in the financial market and for local communities, emphasizing how different these financial institutions are compared to their larger...

Consumers with lower credit scores often also have low down payments when purchasing a home. As a result, fees for mortgage insurance are added to payments. In these comments, CRL argues for these consumers, citing how higher fees would be another barrier to successful homeownership. Additionally, with the enactment of new mortgage rules, notably QM (Qualified Mortgages), determining an ability-...

As the Federal Housing Finance Agency (FHFA) considers how best to manage mortgage risk CRL responded to its offer for comments. Discouraging fees that would create unnecessary barriers to homeownership, CRL called for a reduction in Guarantee Fees, also known as 'g-fees', and reminds FHFA of its duty to serve the entire market.

CRL provided a comment for the record on some of the issues covered in the Senate Banking Committee's hearing, "Financial Products for Students: Issues and Challenges" held on July 31, 2014. Students must make important choices related to how much they borrow and from what source, as well as how to conduct every day financial transactions and receive financial aid...

View our infographic summary of consumer protections in 2013 Responsible financial products and services play an important role in the lives of Americans: helping families pay for goods and services, manage risk, borrow to build assets and save and invest for the future. However, predatory features of financial products and services can have devastating consequences. They can trap consumers in...

This letter is written to the Chairman of the HELP Committee, Senator Tom Harkin (D – IA), as he seeks to reauthorize the Higher Education Act. The reauthorization aims to make substantive reforms to protect students and address critical student lending issues, including student loan servicing, private student loans, for-profit colleges, and school-bank partnerships.

In these comments, CRL expresses general support for the Consumer Financial Protection Bureau's proposals to amend the 2013 Mortgage Rules under the Truth in Lending Act (Regulation Z). Additionally, CRL calls for more clarity to help prevent potential abuses to legitimate nonprofit organizations and to the right to cure provisions addressing errors.