CRL in the News

In a Feb. 9 BankThink article discussing a path forward for the Department of Justice’s civil rights division under President Trump, Paul Hancock claims that the Obama administration pursued too many fair-lending claims against banks and lenders, exceeding the statutory bounds of fair lending enforcement. In his view, these cases lacked adequate proof. But his op-ed overlooked clear evidence that...

Both proposals would leave families vulnerable to financial abuse and risk bringing back a financial crisis, says the Center for Responsible Lending’s Policy Counsel Yana Miles. “Passing either of these bills will revert us back to an era of reckless lending behaviors that led us to the Great Recession,” she said, in a statement. “The pernicious bill to undermine CFPB’s...

Recent research shows that a growing number of consumers aged 60 or older are struggling financially to repay student loans.

Consumer advocates and civil rights groups praised the D.C. Circuit's order. "The court’s decision to hear the petition is a step in the right direction. We need a strong and independent CFPB agency and director now more than ever,” said Mike Calhoun, president of the Center for Responsible Lending.

A report from the Center for Responsible Lending found that people of color in California who can afford to move into expensive neighborhoods typically choose not to. Instead, they mostly still choose to live in low-income, majority-minority neighborhoods.

The financial futures of more than 12 million federal and private student loan borrowers who collectively owe approximately $300 billion is at the crux of a lawsuit filed by the Consumer Financial Protection Bureau (CFPB).

Michael Calhoun, president of the Center for Responsible Lending, argued last month that, "If predatory lenders succeed in undermining Director Cordray and the CFPB, we will revert back to lax financial regulations. This will signal that it is once again open season on consumers. It could also cause yet another painful economic crisis caused by big banks and predatory lending...

Citing the Trump administration's threat to the Consumer Financial Protection Bureau, a coalition of consumer advocacy groups and the top Democrats on the U.S. Senate and House banking committees on Thursday moved to defend the agency and its leadership. U.S. Sen. Sherrod Brown of Ohio and Rep. Maxine Waters of California, moving to intervene in a federal appeals court case...

"The Center for Responsible Lending will continue to support the CFPB and Director Cordray as the Bureau fights to maintain its independent structure so it can carry out its mission", said Center for Responsible Lending President Mike Calhoun. That's why a number of consumer advocates and more than a dozen state attorneys general have stepped up, seeking to defend the...

The groups seeking to intervene on behalf of the CFPB include Americans for Financial Reform, the Center for Responsible Lending, Self-Help Credit Union, the Leadership Conference on Civil and Human Rights, and U.S. Public Interest Research Group. They join 16 state attorneys general, who have also petitioned the court to help defend the CFPB.