Predatory Lending Practices
Committee: US House of Representatives Committee on Banking and Financial Services
Comment to the Federal Reserve on Notice by Capital One to Acquire ING Bank
The Center for Responsible Lending commented on Capital One's proposed acquisistion of ING Bank at a public meeting held by Federal Reserve on September 20, 2011. Summary CRL has done extensive research and policy work addressing checking account overdraft practices that cause significant harm to bank customers. We are concerned that Capital One's current overdraft practices are out of step with significant reforms other large institutions have recently implemented. These practices include continuing to charge high overdraft fees on debit card point-of-sale and ATM transactions, and posting...
Enhanced Consumer Financial Protection After the Financial Crisis
Unsustainable lending pushed us into the financial crisis, and sustainable lending and responsible consumer financial services products are needed to restore and maintain economic health. An independent Consumer Financial Protection Bureau (CFPB), as enacted by the Dodd-Frank Act (DFA or Dodd-Frank), is critical to reestablishing these sustainable lending practices.
Are There Government Barriers to the Housing Market Recovery?
CRL testifies that the biggest barrier to housing recovery is continuing foreclosures that could be stopped. Mortgage servicers are foreclosing unnecessarily, and the government has not yet used all the tools at its disposal to bring foreclosures under control and restore stability in the housing market.
Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing
Senior policy counsel Julia Gordon testifies before a House Financial Services subcommittee that "it is high time for Congress and other policymakers to employ every tool at their disposal" to end the foreclosure crisis.
HAMP, Servicer Abuses, and Foreclosure Prevention Strategies
"We must address the foreclosure problem head-on with every tool available," Senior Policy Counsel Julia Gordon says as part of her testimony before the Congressional Oversight Panel. The testimony covered HAMP strengths and weaknesses, common loan servicing abuses, and specific policy recommendations for reining in continuing foreclosures.
Foreclosures Continue: What Needs to Change in the Government's Response?
Julia Gordon testifies that there's no "silver bullet" for stopping foreclosures, and that's why we need multiple approaches to improve HAMP and effective actions beyond HAMP. For questions about this testimony, contact Julia Gordon at julia.gordon@responsiblelending.org or (202) 349-1878.
Reckless Lending and Toxic Products Caused the Foreclosure Crisis
Julia Gordon, CRL Sr. Policy Counsel, testifies before the Financial Crisis Inquiry Commission on the causes and effects of the foreclosure crisis and why we need more and better responses. For questions about this testimony, contact Julia Gordon at julia.gordon@responsiblelending.org or (202) 349-1878.
The Private Sector and Government Response to the Mortgage Foreclosure Crisis
Julia Gordon, CRL Senior Policy Counsel, testifies before the U.S. House of Representatives Financial Services Committee on why we need a stronger, multi-pronged approach to stopping the foreclosure epidemic. For questions about this testimony, contact Julia Gordon at julia.gordon@responsiblelending.org or (202) 349-1878.