CRL in the News

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...

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...

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...

FIRST LOOK: NAACP TO PUT SPOTLIGHT ON STUDENT DEBT:Student loan debt is unsustainable for many student borrowers — especially borrowers of color, the Center for Responsible Lending and the NAACP warn in a new research report. — The report will be released today in conjunction with the NAACP’s national convention in Detroit, which is expected to draw 10,000 attendees. The...

The race to become the Democratic nominee for president has brought the idea of mass and even total student-debt cancellation into the spotlight. A new analysis suggests that even a relatively small amount of debt relief would make a difference to a large share of student-loan borrowers. Cancelling $10,000 of every federal student-loan borrower’s debt would wipe out the federal...

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.

Credit union advocates and lawmakers are arguing over the benefit of overdraft protection credit union programs as the CFPB considers new rules. The Consumer Financial Protection Bureau (CFPB) has recently been soliciting public opinion on potential changes to the rules that govern overdraft fees. In a financial climate where consumers are growing increasingly frustrated with excessive overdraft fees, changes to...

Our team sat down and spoke with Cheye-Ann Corona, Senior Policy Associate with the Center for Responsible Lending (CRL), to have her shed some light on common issues in the student loan industry. The CRL is part of the Self-Help Credit Union, a member-owned credit union, non-profit loan fund, and policy advocacy organization that works to help low-income families strengthen...

In the wake of the financial crisis, the Consumer Financial Protection Bureau (CFPB) was established to stop predatory financial activity central to the collapse. For years, the CFPB has stood up to financial predators, holding companies acting in bad faith accountable for wrongdoing and returning $12 billion of ill-gotten profits to consumers. When the CFPB saw predatory payday and auto...