CRL in the News

A Fannie Mae and Freddie Mac fix is on Washington’s agenda —- again. Congress this week kicks off its latest attempt to forge a path forward for the mortgage giants, something that’s proved extremely elusive in the 11 years that the companies have been under U.S. control. Starting Tuesday, Senate Banking Committee Chairman Mike Crapo will hold two days of...

In recent years, a number of major for-profit operators such as Education Corporation of America, Vatterott Colleges, Education Management Corporation, ITT Tech and Corinthian Colleges have abruptly closed their doors under the weight of mismanagement, scandal and state and federal investigations. As a result, tens of thousands of students have been left wondering how to recover the time and money...

Former Consumer Financial Protection Bureau Director Richard Cordray attacked the Trump Administration today for retreating on consumer financial protection. Aggressive policies are needed to protect consumers, said Cordray, pointing to mortgage market abuses that helped to propel the recession as a poster child. He urged states to take up the slack. “More consumer protection from the states is a good...

Daniel Radford and Jim Jones might be miles and years apart, but they’re as close to right on as they can get. Today you’ll read, on the facing page, a piece penned by young Radford, a sophomore at prestigious Emory University in Georgia. Radford hails from Sandpoint. On the March 8 op-ed page, The Press published an opinion piece written...

Several organizations, including the Indiana Institute for Working Families, met at the Indiana Statehouse 3rd floor atrium March 11 to explain their opposition to a subprime lending bill co-authored by Huntington’s state senator. State Sen. Andy Zay, R-Huntington, co-authored Senate Bill 613, which the Center for Responsible Lending said would allow lenders to exceed for everyone but active military personnel...

A large coalition of consumer advocacy, non-profit and religious groups is calling on state legislators to scrap a controversial short-term lending bill. The legislation passed through the state Senate and now awaits a hearing in a house committee. While some lawmakers say the proposal gives more options to Hoosiers with bad credit, opponents say it will only worsen their financial...

In a recent op-ed, Consumer Bankers Association President Richard Hunt asserts that bank payday loans were a service to customers and argues that they should be restarted. The facts, though, show that while these loans produced huge fees for banks, they were a usurious debt trap for bank customers. Just a few years ago, banks were making 200%-plus APR payday...

The Consumer Financial Protection Bureau was created in 2010 to help protect American consumers against bad corporate practices. But Democratic lawmakers believe the agency has taken a turn under President Donald Trump. This week, House Democrats began looking into a recent decision by the agency to delay a rule on payday lending. “This committee will not tolerate the Trump Administration’s...

When political candidates spend their time begging for cash from wealthy interests and legislating to prioritize private profits over the public good, regular people lose out. The corporations and superrich donors that dominate our elections have an outsized influence over who wins, what gets discussed in campaigns and what legislative ideas receive serious consideration. The sweeping legislative package known as...

NASHVILLE, TN – Single-family homes used to line the 700 block of 26 th Ave N. But several lots are now empty, the modest houses gone, and the families who lived in them have moved away. Tonya Wade-Moody still lives in one of the remaining homes. And she is plenty angry. “Where are the affordable homes? All of these people...