Mitria Spotser Testimony at House Committee Hearing on Community Banking
Watch the recorded testimony of CRL VP Mitria Spotser before the U.S. House Committee on Financial Services in a hearing titled "Make Community Banking Great Again."
CRL monitors developments across the consumer finance sector and acts to protect people’s pocketbooks from financial misconduct so families can build financial stability. This includes advocating for enforcement of laws banning discrimination based on race, national origin, sex, and other protected characteristics. CRL also fights to defend the Consumer Financial Protection Bureau, a crucial government watchdog that was established in the wake of the 2008 Financial Crisis to stop predatory practices. We support the development of policy and regulatory infrastructure needed to ensure an equitable green lending marketplace for all consumers.
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Support for the Forced Arbitration Injustice Repeal Act (the FAIR Act), S.1376 and H.R. 2953
Public interest organizations, appalled by the Walt Disney Company invoking its restrictive terms of use to evade accountability for the death of a consumer on its premises, wrote to Congress in support of an immediate mark up to the Forced Arbitration Injustice Repeal Act (the FAIR Act), S.1376 and H.R. 2953 so that this legislation may be brought to a...
Voters Strongly Support the Consumer Bureau’s Mission Across Political Spectrum
A new poll from the bipartisan polling team Lake Research Partners and Chesapeake Beach Consulting provides fresh evidence that voters across the political spectrum solidly support a strong Consumer Financial Protection Bureau (CFPB) and tough oversight of Wall Street. This support reaches across blue and red states, and is, in some cases, higher in the battleground states of this year's...
Comment on Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information
CRL and Americans for Financial Reform Education Fund (AFREF) support the proposed rule which amends the Fair Credit Reporting Act Regulation V to prohibit creditors and consumer reporting agencies from using medical debt information for credit eligibility determinations or providing medical debt information that a creditor is prohibited from using. The Fair Credit Reporting Act was enacted, in part, to...
Support for the Close the Shadow Banking Loophole Act
The undersigned organizations, which together represent a broad cross-section of regulated banks, credit unions, and consumer protection organizations, wrote a letter in thanks for introducing the Close the Shadow Banking Loophole Act, and to express their support for this critical legislation which would close the industrial loan company (ILC) loophole in current law. Americans for Financial Reform Bank Policy Institute...
Civil Rights Group Letter on Proposed CDFI Program–Certification Application and Annual Reporting
The Center for Responsible Lending, Leadership Conference on Civil and Human Rights, NAACP, National Association of Latino Community Asset Builders (NALCAB), National CAPACD, National Urban League, and UNIDOS US joined in a letter to support "that CDFI certification is truly reserved for mission-driven, community development organizations."
Testimony of Mitria Spotser on Preserving Consumer Protections While Modernizing Financial Services
Watch the recorded testimony of Mitria Spotser before United States House of Representatives Committee on Financial Services on the importance of protecting consumers in an evolving marketplace.
Advocates Warn Financial Services Innovation Act Would Cause "Sahara Desert" of Consumer Protections
Advocates Warn Financial Services Innovation Act Would Cause "Sahara Desert" of Consumer Protections
In a letter to the House of Representatives' Financial Services Committee, consumer advocates warn that the Financial Services Innovation Act of 2023 would facilitate evasion of existing consumer protection laws and regulations. Citing the foreclosure crisis around 2008 and other examples, the letter states: "Blind endorsement of 'innovations' leads to consumer harms." The bill, currently a discussion draft, was considered...
Advocates Warn Earned Wage Access Bill Facilitates Fintech & Payday Lender Harm to Consumers
In a letter to the author of the Earned Wage Access Consumer Protection Act, advocates warn: "In the guise of offering protections, the bill obscures its true effect: to exempt fintech cash advances from the Truth in Lending Act, to endorse a form of loan that makes workers pay to be paid, and to facilitate new evasions by payday lenders."...
Waiving Criminal Court Fees Prevents Harms of Civil Debt
Many people involved in the criminal legal system live on the economic margins. Most defendants are unable to hire their own lawyer due to indigency. In North Carolina, the average person in prison doesn’t have a high school diploma. The cost of involvement in the criminal legal system can quickly add up to thousands of dollars, but the people expected...