CRL in the News

Consumer advocates on Tuesday endorsed plans to impose a 36% interest rate cap on short-term, small dollar loans—a proposal that could easily accommodate the 28% interest cap of the NCUA’s Payday Loan Alternative Loan program.

Ten years after the financial crisis and Great Recession, WalletHub measured the financial literacy of each state. The average grade? No higher than a B, with most states falling in the D+ to B- range. The reason? Little to no financial education. “We don’t learn personal finance anywhere in school —some schools have very limited financial education — so for...

When Ken Pepion paid $10,000 for a recreational vehicle to enjoy in retirement, he expected to own it. But five months after driving off the lot of Scottsdale RV, Pepion still has no proof the vehicle is his. "We tried to get in touch with the dealer. Their phones would ring and ring, but no one would answer," Pepion, a...

Caution: If you're someone who grabs money management tips after a quick read of a headline or two on Twitter, take note. Don't bank on getting a big break yet on your college debt. "College students who are graduating this year should not count on having their student loans forgiven," said Mark Kantrowitz, publisher and vice president of research for...

Americans are slipping ever deeper into hock. To cope, many people turn to debt consolidation loans, cash-out mortgage refinancing and retirement plan loans that promise relief but could leave them worse off. Paying off high-rate debt such as credit cards with lower-rate loans may seem like a no-brainer. Unfortunately, many of these loans have hidden costs and drawbacks. And consolidation...

Kelly Tornow of the Center for Responsible Lending discusses a new study on the shortcoming of for-profit colleges and the debt-load those students face versus those who attend traditional public four-year institutions. Learn more about the failings of for-profit colleges.

As graduation approached and they started looking for jobs in 2010, Jacqueline Franklin, Jami Reichardt, Bridgette Collins, and about 14 other women at the Sanford Brown Institute in Trevose came to a harsh realization: Their for-profit school wasn’t accredited for its ultrasound program even though they had each borrowed tens of thousands of dollars from the federal government to go...

Nearly 300 bills died last week in the Democrat-dominated Nevada Legislature. Outnumbered Republicans were far from the only ones left to mourn the casualties. Progressive activists were flummoxed by a number of bills either heavily amended or scrapped ahead of the first major bill passage deadline. From hiking the minimum wage to regulating “predatory” payday lenders to eliminating cash bail...

Ent Credit Union is facing a class action overdraft protection lawsuit, which alleges the financial institution charged unfair overdraft fees when accounts had a positive account balance. The claim was filed by two consumers, each alleging different experiences of unfair overdraft fees that allegedly violated Ent’s overdraft protection policy.

The Consumer Financial Protection Bureau's new director said Wednesday that she plans to use the agency's tools to focus on preventing consumer harm, outlining an agenda that includes rethinking the supervisory...