Consumer Finance

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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Win in Congress: Attempt to Roll Back Payday Rule Fails

Win in Congress: Attempt to Roll Back Payday Rule Fails

Dear Coalition supporters, At a time when victories are hard to come by, please take a minute to celebrate a big win! We stopped Congress from rolling back the Consumer Financial Protection Bureau’s national payday rule. Last week, the clock ran out on efforts to use the fast-track Congressional Review Act to repeal the rule and prevent the bureau from...
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Bill Law
Consumer Finance

Bank Payday Loans Are High-cost Debt Traps, Just Like Payday Loans From Non-banks

Bank Payday Loans Are High-cost Debt Traps, Just Like Payday Loans From Non-banks

This sign-on letter of national civil rights, faith, and consumer groups, argues that bank payday loans are high-cost debt traps, just like payday loans from non-banks. It urges the prevention of high-cost, usurious loans by banks and credit unions—whether short-term, balloon-payment payday loans (which banks sometimes call “deposit advance” loans) or longer-term high-cost installment loans or lines of credit, and...
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Letters to Congress
Consumer Finance

Amicus Brief: CFPB Deputy Director Leandra English Appeals the Denial Of A Preliminary Injunction

Amicus Brief: CFPB Deputy Director Leandra English Appeals the Denial Of A Preliminary Injunction

Ten groups filed this amicus brief in support of the continued independence of the Consumer Financial Protection Bureau. This brief appeals the trial court’s denial of a preliminary injunction allowing Leandra English to serve as acting director of the CFPB. The litigation regarding whether the lawful acting director is English or U.S. Office of Management and Budget Director Mick Mulvaney...
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Amicus Brief
Consumer Finance

Enfoque Newsletter

Enfoque Newsletter

Enfoque is a Spanish information service of CRL's Latino Affairs. All the content is in Spanish; the hyperlinks throughout the document land on the original sources on our website or mostly English pages. No 1 | Vol VIII | 2017 No 1 | Vol VII | 2016 No 1 | Vol VI | 2015 No 1 | Vol V |...
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Policy & Legislation
Consumer Finance

Supporting the Bills "Protecting Consumers from Unreasonable Credit Rates Act"

Supporting the Bills "Protecting Consumers from Unreasonable Credit Rates Act"

This letter urges Congress to support the Senate and House companion bills, S. 1659/H.R. 3760, the “Protecting Consumers from Unreasonable Credit Rates Act,” sponsored by Senator Richard Durbin, Senator Jeff Merkley, Representative Matt Cartwright, and Representative Steve Cohen. The Senate and House bills would extend to all consumers a 36 percent usury APR cap. A fair rate cap will protect...
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Letters to Congress
Consumer Finance Payday and Other Small Dollar Loans

North Carolina Legislative Wrap-Up September 12, 2017

North Carolina Legislative Wrap-Up September 12, 2017

Our top priorities for the 2017 NC General Assembly session were to keep payday and car title lenders out of North Carolina, to defend our strong debt buyer and debt collection protections and our strong mortgage lending protections, and to look for opportunities to strengthen other lending protections while guarding against any proposals to weaken them. This 2017 session of...
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Bill Law
Consumer Finance Mortgage Lending

Protecting Consumers’ Access to Credit Act of 2017

Protecting Consumers’ Access to Credit Act of 2017

The Center for Responsible Lending (CRL), the National Consumer Law Center (NCLC), and 150 national and state organizations urge Members of Congress to reject S. 1642 and H.R. 3299, legislation that pose serious risks of enabling a vast expansion of predatory lending across the country. Specifically, the legislation makes it easier for payday lenders and other nonbanks to use rent-a...
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Letters to Congress
Consumer Finance

Stop Rollback of the Arbitration Rule – Give Consumers Their Day in Court

Stop Rollback of the Arbitration Rule – Give Consumers Their Day in Court

Dear Coalition Supporters, Last week, the Consumer Financial Protection Bureau (CFPB) released its final rule to rein in arbitration abuses and improve access to the judicial system for all consumers. This week, US House and Senate members have introduced Congressional Review Act (CRA) Resolutions to overturn this CFPB rule. We expect the US House to vote on its CRA resolution...
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Bill Law
Consumer Finance

Portland Radio Station Interviews CRL Expert on Forced Arbitration Clauses

Portland Radio Station Interviews CRL Expert on Forced Arbitration Clauses

During their evening news, Portland’s KBOO interviewed CRL Senior Policy Counsel Melissa Stegman on forced arbitration clauses. The Consumer Financial Protection Bureau recently issued a rule that prohibits financial contracts from forcing consumers into arbitration and blocking consumers from pursuing a class action suit against the company. Powerful Members of Congress are fast-tracking legislation to repeal the rule – which...
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Policy & Legislation
Consumer Finance
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