Press Releases

Especially Given National Reckoning on Racial Injustice and the Economic Crisis, FHFA Must Do More to Fulfill Affordable Housing Mission Washington, D.C. – As low-income homeowners struggle with bills and as millions of mortgage-ready people of color are excluded from sustainable homeownership, several leading civil rights, consumer, and housing groups yesterday submitted an official comment letter that calls for the...

Debt collectors too often lack sufficient documentation to prove ownership of debt Greater enforcement and stronger laws needed to protect California consumers OAKLAND, CALIF. – A new report released today by the Center for Responsible Lending (CRL) finds debt collectors in California may have seized more than $700 million from consumers between 2012 and 2017, even though they frequently lack...

Updated HEROES Act Deserves Immediate Consideration by U.S. Senate WASHINGTON, D.C. – This evening, the U.S. House of Representatives passed a new comprehensive COVID-19 aid package – an updated version of the HEROES Act. If the bill is also passed by the Senate and signed into law, it would allocate $2.2 trillion and improve the Paycheck Protection Program to better...

CFPB mission of protecting consumers remains extremely popular Voters concerned that federal COVID response favors Wall Street and big corporations WASHINGTON, DC - Ten years after Congress passed a major reform of Wall Street in response to the financial crisis, voters continue to overwhelmingly support more and tougher regulation of finance and they strongly approve of the mission of the...

WASHINGTON, D.C. - President Trump today announced Amy Coney Barrett as his U.S. Supreme Court nominee to replace Justice Ruth Bader Ginsburg, who passed away last week. The Senate Majority has signaled its intention to hold confirmation hearings in October. Center for Responsible Lending President Mike Calhoun released the following statement: The Senate Majority needs to prioritize COVID-19 relief legislation...

CRA must help address systemic racial barriers and inequality, and it must benefit low-and-moderate-income (LMI) families and families of color WASHINGTON, D.C. - This week in a board meeting, the Board of Governors of the Federal Reserve approved its draft Advance Notice of Proposed Rulemaking (ANPR) on the Community Reinvestment Act (CRA). In May, the Office of the Comptroller of...

WASHINGTON, D.C. - Center for Responsible Lending President Mike Calhoun released the following statement on the passing of Supreme Court Justice Ruth Bader Ginsburg: Tonight, we pause to honor the life of Justice Ruth Bader Ginsburg. Justice Ginsburg was a pioneer, a titan, a brilliant jurist, and one of the fiercest advocates for women’s rights and gender equality, civil liberties...

WASHINGTON, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Chuck Schumer (D-N.Y.) unveiled a resolution urging President Donald Trump to cancel up to $50,000 in federal student debt through executive action. Center for Responsible Lending (CRL) Federal Advocacy Director and Senior Counsel Ashley Harrington released the following statement: We applaud Senators Warren and Schumer for drafting a plan that would...

WASHINGTON, D.C. - Today, Senators voted down the Senate Majority Leader’s narrow COVID-19 bill, which was introduced earlier this week. As written, the bill fails to provide substantive relief for renters, student loan borrowers, small business owners, unemployed workers, and other people who are still struggling during this pandemic. The bill did not receive bipartisan support. Center for Responsible Lending...

“Qualified Mortgage” should be defined broadly to ensure that more borrowers are able to gain access to the safest mortgage products and the wealth-building opportunities of homeownership Lenders that engage in pricing discrimination should not receive the QM statutory safe harbor Washington, D.C. – With the Consumer Financial Protection Bureau (CFPB) set to update a rule stemming from the Dodd-Frank...