CRL in the News

But some consumer advocates were quick to caution that it remains to be seen how banks will tailor their new offerings - and what the OCC will allow. There's no official cap at a federal level on the interest rates banks can charge, but research has shown that anything above 36% is difficult for most borrowers to afford, said Rebecca...

The Center for Responsible Lending, a left-leaning nonprofit, advocates for wide credit access and is calling for highly regulated versions of Fannie and Freddie to be preserved. The group says it’s so unclear what the Trump administration wants that next year is likely to end up looking much like 2018. There’s reason to think Congress might eventually try again, but...

"Education alone cannot stop predatory behaviors on the part of for-profit schools and servicers, nor can it help hundreds of thousands of Americans in serious debt because of these practices," said Whitney Barkley-Denney, senior policy counsel with the Center for Responsible Lending.

NPR’s David Greene speaks to Rep. Jeb Hensarling and the Center for Responsible Lending’s Debbie Goldstein about the vote to repeal CFPB guidance meant to protect car buyers from discriminatory loans.

Mick Mulvaney, President Trump's acting head of the Consumer Finance Protection Bureau, for example, has been openly contemptuous of the agency he now runs. "We just have seen a general retreat from enforcing the fair lending laws and ensuring that fair housing opportunities are available to everyone," said Melissa Stegman, senior policy counsel at the Center for Responsible Lending.

Rebecca Borne, senior policy counsel at the Center for Responsible Lending, a nonprofit devoted to promoting fair lending practices, said repealing the consumer provisions will send “a really damaging message” to auto lenders that the federal government is not serious about enforcing anti-discrimination laws. "For decades now, study after study has shown that discrimination in the auto-lending market is a...

"Overturning the auto lending guidance just opened the door to uncertainty across federal agencies that use rules and guidance to protect the public from financial predators," said Rebecca Borné, an attorney with the Center for Responsible Lending.

“Although it occurs, it’s rare for people to be openly racist. Most of the discrimination happens in a manner that the only way to prevent it is through disparate impact enforcement,” said Mike Calhoun, president of the Center for Responsible Lending. “And if you say no disparate impact enforcement, you’re largely saying no discrimination enforcement at all.”

Republicans lawmakers are expected to overturn a rule designed to prevent discrimination by auto lenders. It’s part of a broader effort to roll back other regs using the Congressional Review Act.

"Mick Mulvaney has just told bankers he can hide their misconduct from the public by making the complaint database private," said Debbie Goldstein, executive vice president of the Center for Responsible Lending. "If he does so, he will be making it easier for predatory lenders to fleece consumers. That would violate the mission that Congress gave the consumer bureau: to...