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Press Releases

April 16, 2018
Car lending industry and their allies in Congress have consistently attacked the CFPB auto lending guidance despite clear evidence showing that, for decades, car dealer markups have led to discriminatory lending Several Civil Rights organizations urge Members to vote “no” on repealing guidance that protects against unlawful discrimination WASHINGTON, D.C. – Tomorrow, the U.S. Senate is expected to schedule a vote on Congressional Review Act (CRA) resolution S.J. Res 57, which was introduced by U.S. Senator Jerry Moran (R-Kan.) to undo the Consumer Financial Protection Bureau’s (CFPB)...
April 12, 2018
Under questioning from Senator Elizabeth Warren, Mulvaney unconvincingly defends his attempts to kill the consumer watchdog he now heads CRL report documented the failures of other regulators in the run-up to crisis and argued for creation of the Consumer Financial Protection Bureau WASHINGTON, D.C. – Today in testimony before the U.S. Senate Banking Committee, Mick Mulvaney, the de-facto head of the Consumer Financial Protection Bureau (CFPB), sang his familiar but frightening tune: the CFPB should never have been created and if the agency were to be abolished, other federal financial...
April 12, 2018
Oregonians Suffer Liens and Wage Garnishment for Unproven Debts DURHAM, N.C. – Debt buyers are clogging Oregon’s court system with lawsuits often based on sworn statements that the debts are owed, and with no requirement for backup documentation. A new research report by the Center for Responsible Lending (CRL) analyzes court records and complaints to the Consumer Financial Protection Bureau (CFPB) and finds that a system tilted in favor of debt buyers puts Oregonians on the hook for $18 million per year in judgments for likely unproven debts. Oregon law makes it easy for debt buyers to...
April 10, 2018
As Mulvaney, the “Acting Director” of the Consumer Financial Protection Bureau, testifies before Congress, ConsumersUnderAttack.Org shows how he has favored predatory lenders over American consumers WASHINGTON, D.C. – Today, as Mick Mulvaney, the unlawfully appointed Acting Director of the Consumer Financial Protection Bureau (CFPB), testifies before the House Financial Services Committee, consumer groups announce the launch of a website, www.ConsumersUnderAttack.org, which documents the many ways that his actions are harming consumers. The website was created by the Center for...
April 9, 2018
Payday lenders’ legal challenge to important CFPB protections would keep working families stuck in crippling debt traps WASHINGTON, D.C. – By filing a legal challenge to an important Consumer Financial Protection Bureau (CFPB or Consumer Bureau) rule, payday lenders are seeking to avoid consumer protections against harmful business models that keep distressed borrowers in a cycle of debt, members of the Stop the Debt Trap coalition said today. Led by the Community Financial Services Association of America (CFSA) and the Consumer Service Alliance of Texas, the payday lending industry...
April 4, 2018
SB 818 would renew mortgage and foreclosure protections, such as the right to appeal when a loan modification application is denied. SACRAMENTO, CALIF. – The California Senate Banking and Financial Institutions Committee has voted to pass SB 818, a bill to restore key provisions in California’s landmark “Homeowner’s Bill of Rights” (HBOR) legislation which passed in 2012 in response to the foreclosure crisis. HBOR has prevented thousands of avoidable foreclosures by requiring mortgage loan servicers to engage in timely, fair and transparent process with struggling homeowners before...
April 4, 2018
WASHINGTON, D.C. – Today, Wednesday, April 4, leaders of the Center for Responsible Lending (CRL) are in Memphis, Tenn., to participate in events honoring the 50th anniversaries of the assassination of Dr. Martin Luther King, Jr. and the enactment of the Fair Housing Act. The Memphis-based activities will begin a month-long series of CRL publicly appearing with allies and advocates to observe Fair Housing Month. Additional events will be shared as confirmed. Wednesday, April 4, 2018 - Memphis, Tenn. WHAT: The Jewish Labor Committee (JLC) and its co-sponsors the American Federation of...
April 3, 2018
AB 2500 Received Seven Votes Out of Committee With No Opposition SACRAMENTO, CALIF. - The California Assembly Committee on Banking and Finance has voted to pass AB 2500, the Safe Consumer Lending Act. The bill, brought forward by Assemblymember Ash Kalra’s (D-San Jose), and principal co-authors Senator Holly J. Mitchell (D-Los Angeles) and Senator Steven Bradford (D-Los Angeles), would protect California families from abusive high-cost installment loans, including those made by car title lenders. The legislation would drastically reduce the costs of consumer loans between $2,500 to $5,000...
April 2, 2018
His proposed changes to the Consumer Financial Protection Bureau would politicize the agency and "make consumer protection dependent on Congress and the White House standing up to the financial industry." WASHINGTON, D.C. – Today, Mick Mulvaney, the unlawfully appointed Acting Director of the Consumer Financial Protection Bureau, issued a report with recommendations that would dramatically diminish the agency’s independence. As reported by Politico, Mulvaney would like “funding the Bureau through congressional appropriations; requiring legislative approval of ‘major’ bureau rules;...
March 29, 2018
Bill to stop predatory lending is set for committee vote on Monday, April 2. OAKLAND, CALIF. – The Center for Responsible Lending (CRL), African American Methodist Episcopal Church - 5th Episcopal District, Asian Law Alliance, Coalition for Humane and Immigrant Rights (CHIRLA), UnidosUS, and Western Center on Poverty, with support from 99 California consumer, faith, and civil rights organizations, and cities throughout the state are urging the Assembly Committee on Banking and Finance, to support AB 2500, the Safe Consumer Lending Act. The bill would protect California families from...

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