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CRL in the News

August 10, 2016 | By Radio Bilingüe

A los prestatarios latinos se les niega el acceso al crédito hipotecario en mucha mayor medida que a los blancos, lo cual continúa causando profundas brechas en la riqueza racial y segregación en la vivienda.

August 8, 2016 | By Charlene Crowell | The Louisiana Weekly

If you are one of the 77 million Americans who are hounded each year by debt collectors, the Consumer Financial Protection Bureau (CFPB) is taking on this $13 billion industry. At a July 28 field hearing in Sacramento, Richard Cordray, CFPB Director, announced the Bureau’s intent to rein in illegal practices that harass and rob consumers.

August 7, 2016 | By Latisha Catchatoorian | The Charlotte Post

“Payday (loans) are costing people in states where it is legal… (up to) $8 billion in fees from (the) pockets of people that are living paycheck to paycheck,” said Susan Lupton, a senior policy associate with the Center for Responsible Lending.

August 5, 2016 | By Latisha Catchatoorian | The Triangle Tribune

“Payday (loans) are costing people in states where it is legal… (up to) $8 billion in fees from (the) pockets of people that are living paycheck to paycheck,” said Susan Lupton, a senior policy associate with the Center for Responsible Lending.

August 3, 2016 | By Astra Taylor | The New Yorker

Auto-title loans, in which people borrow by using their vehicles as collateral, are arguably the most pernicious of payday lending’s mutant offspring: an estimated two million Americans borrow this way, earning lenders four billion dollars in fees every year. They’ve become particularly pervasive in Georgia. According to the Center for Responsible Lending, four hundred and nineteen car-title lenders were operating in the state in 2016, one for every 18,402 adult residents. 

August 2, 2016 | By John Heltman | American Banker

Nikitra Bailey, who oversees coalition building and constituent services at the Center for Responsible Lending, said that if bringing unbanked or underbanked Americans into the financial mainstream is a part of addressing income inequality, building off the CRA would be a logical place to start.

July 28, 2016 | By Charlene Crowell | The Washington Informer

If you are one of the 77 million Americans who are hounded each year by debt collectors, the Consumer Financial Protection Bureau (CFPB) is taking on this $13 billion industry. At a July 28 field hearing in Sacramento, Richard Cordray, CFPB director, announced the Bureau's intent to rein in illegal practices that harass and rob consumers.

July 28, 2016 | By Jim Zarroli | North Carolina Public Radio

Graciela Aponte-Diaz, director of California policy at the Center for Responsible Lending, said the proposals "endorse the common-sense idea that people should not be harassed for debts they do not owe." But she expressed concern that some parts of the proposals don't protect consumers from unwarranted collection attempts.

July 22, 2016 | By Randy Hutchinson | The Jackson Sun

Many payday loan borrowers aren’t able to repay the loan when it’s due and roll it over into a new loan, incurring new fees. The CFPB found that nearly half of borrowers had more than 10 transactions in the 12-month period covered in a survey. The Center for Responsible Lending found that payday loan borrowers are more likely to become delinquent on other bills; delay medical care; and in the worst scenarios, file for bankruptcy.

July 21, 2016 | By Carter Dougherty | InsideSources

Banks have long argued that overdrafts, which allow customers to draw accounts below zero for a fee, are a service that consumers value. Consumers groups counter that the vested interest banks have in encouraging account holders to overdraw has to be met with hard-and-fast rules limiting overdrafts and the cost of the service. “We want to see the bureau use its authority to really reform the way overdraft and checking account programs work,” said Rebecca Borne, a researcher with the Center for Responsible Lending.

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