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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North Carolina Legislative Update July 12, 2017

North Carolina Legislative Update July 12, 2017

Dear Coalition Supporters, This update discusses serious threats from the federal level to our NC protections against predatory lending as well as several positive actions in NC and nationally. It includes recent developments about payday lending, student lending, housing finance reform and the new arbitration ban. And it discusses the threat of Congress dismantling the Consumer Financial Protection Bureau (CFPB)...
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Bill Law
Consumer Finance

Evaluating Charter Applications from Financial Technology Companies

Evaluating Charter Applications from Financial Technology Companies

Despite significant concerns raised by a number of interested parties—including hundreds of advocacy groups, state regulators, and a bipartisan group of Members of Congress—the OCC is moving forward with its fintech charter proposal. This comment letter asserts that the OCC does not have the legal authority to charter non-depositories, that a national bank charter for non-depository fintech institutions will facilitate...
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Comment Letter
Consumer Finance

Mike Calhoun's Testimony "The State of Bank Lending in America"

Mike Calhoun's Testimony "The State of Bank Lending in America"

On Tuesday, March 28, Center for Responsible Lending (CRL) President Mike Calhoun testified before the House Financial Services Committee's Financial Institutions and Consumer Credit Subcommittee for a hearing entitled "The State of Bank Lending in America." He discussed recent trends in lending and how the Dodd-Frank Wall Street Reform and Consumer Protection Act has made the financial industry more accountable...
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Testimony
Consumer Finance

Opposition to H.R. 1009, the OIRA Insight, Reform, and Accountability Act

Opposition to H.R. 1009, the OIRA Insight, Reform, and Accountability Act

The OIRA Insight, Reform, and Accountability Act is portrayed as a mere codification of previous Executive Orders, but in fact it further undermines the rulemaking process. It would codify the numerous burdensome requirements contained in the orders– many of which are biased against protecting the public, vague, and in some cases mutually inconsistent — and would have the disastrous effect...
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Letters to Congress
Consumer Finance

Strong Opposition to H.R. 1004 Regulatory Integrity Act

Strong Opposition to H.R. 1004 Regulatory Integrity Act

H.R. 1004 will significantly undermine federal agencies’ ability to engage and inform the public in a meaningful and transparent way regarding its work on important science-based rulemakings that will greatly benefit the public. As a result, the bill will lead to decreased public awareness and participation in the rulemaking process in direct contradiction of the Administrative Procedure Act and agencies’...
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Letters to Congress
Consumer Finance

Oppose H.R. 998 Searching for and Cutting Regulations that are Unnecessarily Burdensome Act of 2017 (SCRUB Act)

Oppose H.R. 998 Searching for and Cutting Regulations that are Unnecessarily Burdensome Act of 2017 (SCRUB Act)

H.R. 998 would establish a new bureaucracy empowered to dismantle long-established science-based public health and safety standards and would make it significantly more difficult for Congress and federal agencies to implement essential future protections. Along with previous bills that have passed the House and the President’s Executive Orders instituting a regulatory freeze and requiring the removal of two rules for...
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Letters to Congress
Consumer Finance

Letter to the Comptroller of the Currency: Innovation Should Not Come at the Expense of Consumer Protection

Letter to the Comptroller of the Currency: Innovation Should Not Come at the Expense of Consumer Protection

The Center for Responsible Lending (CRL), The Leadership Conference on Civil and Human Rights, and the NAACP have sent a letter to Comptroller of the Currency Thomas J. Curry urging him not to offer national charters to financial technology firms, which could severely undermine state oversight and state laws that protect consumers and small business owners from abusive financial products...
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Letters to Congress
Consumer Finance

Strong Opposition to Enabling Lenders to Avoid State Protections and Oversight

Strong Opposition to Enabling Lenders to Avoid State Protections and Oversight

Over 250 consumer, civil rights, and community groups wrote this letter to the Office of the Comptroller of the Currency to express strong opposition to the proposed new federal nonbank lending charters that would enable lenders to avoid state interest rate caps, other state protections, and state oversight. State laws often operate as the primary line of defense for consumers...
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Letters to Congress
Consumer Finance

Strong Opposition to New Federal Nonbank Lending Charters

Strong Opposition to New Federal Nonbank Lending Charters

The 49 consumer, civil rights, small business, and other community organizations signed on to this letter to express strong opposition to new federal nonbank lending charters that would enable chartered entities to avoid state interest rate caps, other state consumer protection laws, and state oversight, putting consumers and small businesses at risk. The Office of the Comptroller of the Currency...
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Letters to Congress
Consumer Finance
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