CRL in the News

Bernie Sanders and Alexandria Ocasio-Cortez will reportedly introduce new legislation today capping credit card and consumer loan interest rates at 15 percent and also set penalties for companies that violate the law “including a forfeiture of all interest on the illegal loans,” according to the Intercept. The proposed cap would be six percent lower than the current median interest rate...

The Consumer Financial Protection Bureau is making plans to enter the technology age with its proposal to change the rules for debt collectors. While it’s great that they’re getting more specific about what is and isn’t allowed, you’re almost certainly not going to love all the changes.

The Consumer Financial Protection Bureau on Tuesday rolled out a highly anticipated package of proposed debt collection regulations, saying it aims to clarify and modernize consumer communication and disclosure standards

Over the past several years, debate has raged among policymakers at the federal level about the best way to ensure for-profit colleges provide students with a decent college education, and don’t burden their students with high levels of debt they can’t repay. Toward the end of their tenure, Obama administration officials implemented two rules aimed at cracking down on for-profit...

The Consumer Financial Protection Bureau released a highly anticipated proposal on Tuesday to update the rules governing debt collectors, establishing new guidelines on disclosure and the number of times a collector can contact a consumer. The proposed rule, which has been in the works since 2013, drew tepid praise from the industry and condemnation from some consumer advocates. Debt collection...

Normally, Amazon opening up yet another store wouldn't necessarily make headlines. The company has 12 Amazon Go stores, three Amazon 4-Star stores, five Amazon Pop Ups, 19 Amazon Books stores, and four malls "presented" by Amazon. But Tuesday's unveil of its latest "lineless" store in the heart of New York City's financial district is notable because it's the e-commerce giant's...

If you carry a balance and can get a low interest rate, you might consider getting a fixed-rate card. But fixed-rate credit cards can be difficult to find and may come with other drawbacks. Here's a look at whether these cards might be a good option for you.

WASHINGTON – The federal government promised college students in 2007 that if they took their degrees and went into a public service profession, they could apply to have whatever student loan debts they still had after 10 years forgiven. So far, the reality has been somewhat different. When the first 29,000 applications were filed with the Department of Education last...

Want to know which banks target people of color for loans with high interest rates, steep fees or reverse mortgages? Or which banks deny home loans to African Americans and Latinos even when their income shows they could easily cover the monthly payment? You won’t be able to find out if new regulations proposed by the Consumer Financial Protection Bureau...

The Consumer Financial Protection Bureau, under President Trump, already has moved to make life easier for payday lenders. It’s expected any day now to do the same for debt collectors. The bureau will unveil proposed rule changes that are likely to include explicit permission for debt collectors to contact people via text and email (and maybe social media). The new...