CRL in the News

Nadine Chabrier, senior policy council at the Center for Responsible Lending, worries about consumers who take out multiple BNPL loans. “It’s easy to lose track, and you can quickly be in a situation where you have payments due all over the month,” Chabier told Checkbook. “You don’t get a statement, and you may end up getting overdraft fees if you...

Whether it’s buying a home, saving for retirement or starting a business, student debt makes it difficult for graduates of historically Black colleges and universities to build wealth after college, a new report shows. The report, from the Durham-based Center for Responsible Lending, evaluated polling, focus group and public education data to gauge the impact of heavy debt burdens —...

The increase was larger for Black and Latino buyers because their homeownership rates were so much lower to begin with, said Mike Calhoun, the president of the Center for Responsible Lending.

The Center for Responsible Lending, a North Carolina-based nonprofit research organization that works to end predatory lending, released a study in late September that examined the "persistent harms of high-cost installment loans," a form of predatory lending that includes "rent-a-bank" loans. The group says it found predatory loans had a greater impact on people of color and people with low...

Nadine Chabrier is senior policy and litigation counsel at the Center for Responsible Lending, and spoke with the Standard about why consumers should use caution when financing with Buy Now, Pay Later. She said that, while the loans aren’t inherently predatory, they can quickly rack up fees if borrowers aren’t careful. Listen to the interview above or read the transcript...

"If this bill passes, it will not be the end of rewards programs. They are one of the most important ways that credit card companies attract and keep some of their most profitable customers. And so they will continue to use that as a way to get those customers and keep them," said Mike Calhoun with the Center for Responsible...

The CRL is particularly concerned about TD's overdraft practices and is advocating for the bank to change those policies, said Nadine Chabrier, senior policy and litigation counsel at the center. Such a change could be part of a community benefit agreement, but those tend to focus on lending, and the center wants those changes to be made now, she added...

Biden’s executive order “will bring wealth-building opportunities to struggling borrowers who have been crippled by student loan debt, especially low-wealth individuals, women and people of color — who were also disproportionately affected by the burdens of an unforgiving public health crisis,” said Jaylon Herbin, outreach associate and policy manager at the Durham-based Center for Responsible Lending.

Consumer advocates say that a pro-consumer ruling in the suit could make it difficult for debt buyers operating in North Carolina to churn out a high volume of lawsuits, which frequently lead to default judgments against borrowers. "This has the potential for disrupting the assembly line, because the debt buyer is held to a higher standard," Nadine Chabrier, senior policy...

Now that the Biden administration has wiped out hundreds of billions of dollars in education debt and proposed a new income-driven repayment plan that could cut monthly payments in half for undergraduate loans, many borrowers will have lower monthly payments, or none at all. This “gives borrowers a chance to achieve their goals,” said Jaylon Herbin, a policy and outreach...