New report paints a bleak picture of how North Carolina's court system holds many of the state's poorest people accountable

Source
Bill O'Neil | WXII
The Center for Responsible Lending helped write the report. The group's spokesperson, Rochelle Sparko, said they're urging judges to waive civil penalties for those unable to pay them. "It is our position that this is a far better outcome for folks who truly are indigent, then converting fines and fees to a civil judgment largely because of those long term and sometimes really awful consequences," Sparko said.

The Consumer Financial Protection Bureau’s funding is constitutional

Source
Mitria Wilson-Spotser | The Washington Post
In his Oct. 1 op-ed, “Diminish Congress’s taste for diminishment,” George F. Will urged the Supreme Court to affirm a decision from the U.S. Court of Appeals for the 5th Circuit that invalidated funding for the Consumer Financial Protection Bureau (CFPB). This decision is contradicted by constitutional text, historical practice and judicial precedent, including recent rulings by the 2nd Circuit, D.C. Circuit and six other federal courts.

The Consumer Financial Protection Bureau funding’s is constitutional

Source
Washington Post Letters to the Editor
George F. Will argued that the Supreme Court should hold the Consumer Financial Protection Bureau’s funding unconstitutional to “strengthen Congress.” This is an Orwellian claim if ever there were one, because such a decision would strip Congress of a power it has exercised since the nation’s founding.

Consumer Protection Agency Fights For Its Life In Supreme Court Case

Source
Rachel Witkowski, Caren Weiner | Forbes
“The Supreme Court has a choice in its ruling: it can side with judicial precedent, historical practice, common sense, and text of the Constitution—or it can side with payday lenders and economic chaos,” said Michael Calhoun, president of the Center for Responsible Lending, one of the groups represented at the rally.

Student loan debt is a 'crisis for Black America,' Democratic lawmaker says

Source
Ronda Lee | Yahoo Finance
Student debt can also ripple from one generation to the next, those at the CBCF conference emphasized. That debt makes it harder to build wealth as "the disproportionate impact of student loan debt on Black borrowers…has been demonstrated to exacerbate the racial wealth gap," a study from the Center for Responsible Lending found.

Consumer advocates warn about consequences of weakening the CFPB

Source
Scott Horsley, Lauren Hodges, William Troop | NPR
HORSLEY: You know, the CFPB is popular with the public. Polls show Democrats and Republicans alike feel it's useful to have an agency that's looking out for them in their dealings with often much more sophisticated financial institutions. Over the years, the bureau has recovered some $17 billion for consumers. It's gone after not only predatory lenders, but debt collectors and student loan servicers and ordinary banks with their overdraft fees. Mike Calhoun, who heads the Center for Responsible Lending, says no agency is really immune from politics. But the bureau has proven to be pretty

What to know as federal student loan payments resume

Source
Kyleigh Panetta | Spectrum News
“Almost 1 in 4 borrowers were getting ready to be in default or at risk already. About 2.6 million borrowers were already in this risk factor. So what we want to make sure this on-ramp process is safe for borrowers. We don't want to widen that gap,” said Jaylon Herbin, the director of Federal Campaigns for CRL. Herbin says there are things borrowers can do to ease the stress of these payments. First, know your loan servicer because many of them changed during the pandemic. Second, confirm your balance, interest rate and monthly payment. That information is available in your online account