Press Releases

PHEAA Should Drop the Lawsuit; DOE Should Respect State’s Rights to Address Historically Problematic Practices WASHINGTON, D.C. – The Pennsylvania Higher Education Assistance Agency (PHEAA), one of the nation's largest student loan servicers, is suing the state of Connecticut in order to circumvent a 2015 law to protect student loan borrowers in the state from negligent and predatory servicing practices...

WASHINGTON, D.C. – Today, Wednesday, April 4, leaders of the Center for Responsible Lending (CRL) are in Memphis, Tenn., to participate in events honoring the 50th anniversaries of the assassination of Dr. Martin Luther King, Jr. and the enactment of the Fair Housing Act. The Memphis-based activities will begin a month-long series of CRL publicly appearing with allies and advocates...

SB 818 would renew mortgage and foreclosure protections, such as the right to appeal when a loan modification application is denied. SACRAMENTO, CALIF. – The California Senate Banking and Financial Institutions Committee has voted to pass SB 818, a bill to restore key provisions in California’s landmark “Homeowner’s Bill of Rights” (HBOR) legislation which passed in 2012 in response to...

AB 2500 Received Seven Votes Out of Committee With No Opposition SACRAMENTO, CALIF. - The California Assembly Committee on Banking and Finance has voted to pass AB 2500, the Safe Consumer Lending Act. The bill, brought forward by Assemblymember Ash Kalra’s (D-San Jose), and principal co-authors Senator Holly J. Mitchell (D-Los Angeles) and Senator Steven Bradford (D-Los Angeles), would protect...

His proposed changes to the Consumer Financial Protection Bureau would politicize the agency and "make consumer protection dependent on Congress and the White House standing up to the financial industry." WASHINGTON, D.C. – Today, Mick Mulvaney, the unlawfully appointed Acting Director of the Consumer Financial Protection Bureau, issued a report with recommendations that would dramatically diminish the agency’s independence. As...

Bill to stop predatory lending is set for committee vote on Monday, April 2. OAKLAND, CALIF. – The Center for Responsible Lending (CRL), African American Methodist Episcopal Church - 5th Episcopal District, Asian Law Alliance, Coalition for Humane and Immigrant Rights (CHIRLA), UnidosUS, and Western Center on Poverty, with support from 99 California consumer, faith, and civil rights organizations, and...

WASHINGTON, D.C. – U.S. Senator Jerry Moran (R-Kan.) has introduced a Congressional Review Act (CRA) resolution, S.J. Res 57, which would undo the Consumer Financial Protection Bureau’s (CFPB) 2013 indirect auto lending guidance. This important guidance is a key step to limit discriminatory impact of dealer interest rate markups in the auto lending industry. The resolution has 15 Republican cosponsors...

WASHINGTON, D.C. – U.S. Senator Lindsey Graham (R-S.C.) has introduced a Congressional Review Act (CRA) resolution, S.J. Res. 56, which would repeal the Consumer Financial Protection Bureau (CFPB) rule to stop payday and car title loan debt traps and prevent the CFPB from ever issuing a similar rule. The CFPB rule, finalized in October, established basic consumer protections, including the...

Trump’s Pick at Consumer Bureau Will Not Pursue Abusive Payday Loan Debt Collector, Might Do Same for Three Other Payday Lending Companies WASHINGTON, D.C. – Today, Reuters published a report, " Exclusive: Trump official quietly drops payday loan case, mulls others – sources," that provides additional evidence that Trump's unlawfully appointed Acting Director of the Consumer Financial Protection Bureau Mick...

OAKLAND, CALIF. – Washington Governor Jay Inslee signed the Washington Student Education Loan Bill of Rights into law yesterday, which will provide strong protections for the more than 730,000 student loan borrowers in the state carrying $22.9 billion in student loan debt. The law will establish a Student Loan Advocate to review complaints, and will authorize the state to license...