CRL in the News

The bank's overdraft fee income came under fire in an Aug. 23, 2022, letter from the Center for Responsible Lending, or CRL, and other consumer advocates to the Federal Reserve Bank of Philadelphia and the Office of the Comptroller of the Currency urging the regulators to reject the planned merger. The CRL rarely presses regulators to strike down specific bank...

Mitria Wilson-Spotser, vice president and federal policy director at the Center for Responsible Lending, made a similar argument, while also raising concerns about the impact the risks posed to policies such as the Qualified Mortgage rule. “The reason we have this housing appreciation, the reason why we have homeownership rates at the rate that we do in the United States...

The interview explores the ramifications of the Supreme Court case about the federal consumer watchdog agency.

On Monday, Nadine Chabrier, a lawyer for the Center for Responsible Lending, said in a news release that the Supreme Court would be reviewing a lawsuit that poses “an existential threat” to the CFPB and similarly funded agencies. “If the Supreme Court accepts this deeply flawed argument against CFPB funding, it would set a dangerous precedent that would be used...

According to research and complaints by the Center for Responsible Lending, TD charges U.S. customers more than $100 a day for overdrafts by levying $35 fees three times a day. These fees bear no relationship to the bank’s actual costs. They are purely opportunistic.

Financial experts say there are steps that you can take now to prepare for the aftermath of the court’s decision. First, determine which company is servicing your federal loan or loans so you’ll know whom to pay if and when the time comes. Jaylon Herbin, director of federal campaigns for the Center for Responsible Lending, said there has been a...

Jaylon Herbin, Director of Federal Campaigns for the Center for Responsible Lending, joins Kristal to discuss the upcoming showdown as President Biden's student loan forgiveness program heads to SCOTUS.

Critics say much of the money will go to people who can afford to pay it back. But Jaylon Herbin of the Center for Responsible Lending says it will help low income Americans recover from a pandemic that’s hit them disproportionately. "Working class families, they're the ones who take out debt at a higher rate," Herbin said. "They're the ones...

“If the Supreme Court accepts this deeply flawed argument against C.F.P.B. funding, it would set a dangerous precedent that would be used to challenge agencies with legally indistinguishable funding, including the Federal Reserve, F.D.I.C., Medicare and Social Security,” said Nadine Chabrier, a senior policy and litigation counsel at the nonpartisan research group Center for Responsible Lending.

One of my favorite quotes comes from the 2000 political drama "The Contender." In it, the vice presidential nominee, Laine Hanson, explains her refusal to neither confirm nor deny the sexist smear campaign against her with one sentence: "Principles only mean something if you stick by them when they're inconvenient." Twenty-three years later, I find myself thinking about that line...