CRL in the News

The Consumer Financial Protection Bureau, once one of the most aggressive regulators of education loan companies, is signaling a retreat from oversight of federal student loans by limiting the duties of its new ombudsman. On Friday, the bureau announced the appointment of Robert G. Cameron as its ombudsman for private education loans, charged with receiving, reviewing and resolving borrower complaints...

This week, the Center for Responsible Lending and the National Association for the Advancement of Colored People (NAACP) released a report finding that student loan debt is unsustainable for many student borrowers, especially borrowers of color. “ Quicksand: Borrowers Of Color & The Student Debt Crisis” offers policy recommendations for reforming the country’s broken and inefficient student loan system, close...

Student loan debt is no doubt a drag on the U.S. economy, holding back how much money young consumers can spend on cars, homes and even invest in 401(k) plans or new businesses. But the debt crisis is giving an early kick start to the 2020 Democratic presidential race. One candidate after another has generated some buzz by offering up...

A coalition of consumer groups is asking the CFPB to extend the comment period for the agency’s controversial proposed debt collection rules by two months.

When Senator Elizabeth Warren, a contender for the 2020 Democratic presidential nomination, joined House Majority Whip James Clyburn in unveiling an ambitious student debt cancellation bill Tuesday, she said they weren’t “looking for one headline” about the $640 billion proposal. Clyburn, a member of the Democratic leadership, said he plans to push legislation that could pass in the House. The...

Outstanding student debt continues to grow, with some 43 million Americans owing a total $1.4 trillion in federal student loan debt alone. The decade-long disinvestment in public higher education and the inability of underfunded colleges that serve minorities to deepen access contributes to borrowing disparities, the report notes. In response, black and Latino students, in particular, have been disproportionate targets...

Student loan debt is swelling for graduates across the country. But according to a new report, the crisis is hitting students of color the hardest – and widening the racial wealth gap in the process. The National Association for the Advancement of Colored People (NAACP) and the Center for Responsible Lending (CRL) released a report titled “Quicksand: Borrowers Of Color...

National student debt has reached the trillion-dollar mark and some senators want to cancel it, proposing huge amounts of money to do so. But it turns out - 10-thousand dollars might do the trick. Market Watch looked at a new analysis from the center for responsible lending. It suggests just 10 grand might make a difference for a huge amount...

Even as the Consumer Financial Protection Bureau (CFPB) moves to update the Fair Debt Collection Practices Act of 1977 to better reflect the impact of newer communications technology, some consumer advocates point to the inadequacy of the proposed measures. The consumer protection agency has invited public comment on the proposed update, which would set up rules on how debt collectors...

Araceli Panameño, Center for Responsible Lending "vaya a la página de internet de la comisión federal de comercio, busque ahí la información acerca de este acuerdo, regístrese para recibir correos electrónicos". El acuerdo final está sujeto al visto bueno de una corte federal en los próximos meses.