Why it costs money to get your own money

“We have this distorted cross-subsidy where the biggest revenue on checking accounts is coming from the people with the least money, and they’re subsidizing the checking accounts of those with more money,” said Mike Calhoun, president of the Center for Responsible Lending.

Citi becomes largest bank to eliminate overdraft fees

"Overdraft fees kick people when they are down," Nadine Chabrier, policy and litigation counsel for the Center for Responsible Lending (CRL), said. "Their costs are borne by financially vulnerable consumers. These fees disproportionately harm Black and Latino Americans with a bank account. Overdraft fees are also one of the most common reasons people lose their bank accounts.

Roughly $28B in PPP Funds Still Unforgiven

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Ratchet + Wrench
That $28 billion is made up of almost 350,000 loans, most of which are for less than $25,000 each. That lingering debt is creating a burden for the smallest businesses, including many run by minority entrepreneurs, say advocacy groups, community leaders and business owners. Some borrowers who say they meet the criteria for forgiveness are struggling with technical snafus, onerous documentation requirements and confusing websites. As a response, advocates led by the Center for Responsible Lending, on Thursday asked the SBA, the U.S. Treasury and Congress to take steps to help small business

Small businesses still face $28 billion of unforgiven PPP Loans

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Amy Yee and Andre Tartar | Bloomberg
"We must come through for the most vulnerable," said Aracely Panameño, former director of Latino affairs at the Center for Responsible Lending. Advocates are also asking the SBA to rescind a rule denying forgiveness to borrowers who made good-faith errors and eliminate 'gotcha' denials of loan forgiveness due to sudden rule changes.

Lenders push "predatory" puppy loans at pet stores across the U.S., group says

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Kate Gibson | CBS News
"TAB Bank is misusing its bank charter by fronting for abusive loans that bleed consumers dry," Nadine Chabrier, policy and litigation counsel at the Center for Responsible Lending, said Tuesday in a statement. "Responsible merchants should stop peddling predatory EasyPay loans, and the FDIC should end TAB Bank's participation in this scheme." The FDIC declined to comment. EasyPay and TAB Bank did not return requests for comment.

Buying a puppy? Finance company illegally overcharging up to 189% interest, consumer groups claim.

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Karin Price Mueller | NJ Advance Media for NJ.com
“TAB Bank is misusing its bank charter by fronting for abusive loans that bleed consumers dry,” said Nadine Chabrier, policy and litigation counsel for the Center for Responsible Lending. “Responsible merchants should stop peddling predatory EasyPay loans and the FDIC should end TAB Bank’s participation in this scheme.”

Bank-fintech partnerships win key battle, but war is far from over

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Brendan Pedersen | American Banker
But Ellen Harnick, an executive vice president with the Center for Responsible Lending, said more must be done to ensure there are guardrails in place that allow states to protect their residents from potentially predatory rent-a-bank arrangements. “It's very clear, and courts have been clear, that what's needed is to look behind appearances, behind the facial presentation of an arrangement, to see what's really going on — to follow the money and see who's really behind the loan,” Harnick said. “There is no reasonable basis for essentially blowing up the state's ability to protect their own