Press Releases

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...

“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...

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...

The new Preserving Community and Neighborhood Choice rule incorrectly redefines the meaning of fair housing and eliminates important tools for addressing systemic discrimination in housing, weakening the Fair Housing Act. Washington, D.C. – Today, the Department of Housing and Urban Development (HUD)’s new Preserving Community and Neighborhood Choice rule goes into effect, marking a major step backwards in the ongoing...

The action leaves protected classes, including people of color, women, people of faith, people with disabilities, and families with children more vulnerable to housing discrimination In issuing the final rule, the Administration even ignored the mortgage industry’s largest lenders and realtors, which opposed the action Washington, D.C. – A primary legal tool used to identify and eliminate discrimination, known as...

The timing of the OCC’s embrace of predatory lenders could not be worse. We are in the midst of an unprecedented health crisis and a severe economic crisis, with both crises impacting communities of color more heavily than white communities.  WASHINGTON, D.C. - A proposal by the regulator of the nation’s largest banks would allow predatory lenders to do an...