Press Releases

WASHINGTON, D.C.— Today, the U.S. Department of Education released the final version of federal regulations for accreditation and state authorization for online institutions. Set to take effect in July 2020, the new rules would lead to a spiraling decline in the quality of the nation’s higher education system, costly and fruitless expenditures of student time and money, and a cost...

WASHINGTON, D.C. – U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson announced today that his agency reached an agreement with the U.S. Department of Justice (DOJ) on the use of the False Claims Act for Federal Housing Administration single family loans. Center for Responsible Lending President Mike Calhoun made the following statement: CRL applauds HUD and the...

Continuing state action will hasten fair practices across the industry DURHAM, N.C. – A new wave of state legislation passed in 2019 continues the trend of states addressing abuses in the student loan servicing industry, according to a report by the Center for Responsible Lending (CRL) titled, Stepping Up: States Move to Hold Student Loan Servicers Accountable. The analysis notes...

WASHINGTON, D.C. – The U.S. Supreme Court said today that it will take up  Seila Law LLC v. Consumer Financial Protection Bureau (CFPB), a case attempting to undermine the independence of the nation’s consumer protection watchdog.  Seila Law LCC is pushing the Supreme Court to give President Trump influence and control over how the CFPB oversees the financial services industry. Specifically...

WASHINGTON, D.C. – Center for Responsible Lending Executive Vice President Nikitra Bailey released the following statement today on the passing of U.S. Congressman Elijah Cummings, Chairman of the House Committee on Oversight and Reform: We are saddened by the passing of Chairman Elijah Cummings. He was a steadfast leader who served his community and country with passion and conviction. For...

WASHINGTON, D.C. – Today, the U.S. House of Representatives Committee on Education and Labor introduced the College Affordability Act, a bill to lower the costs of college for students and improve the quality of education. The bill includes important provisions to make quality higher education more accessible and affordable for students and families, including indexing the Pell Grant to inflation...

2008 Crisis Echoes Through American Politics As Americans Seek More WASHINGTON, DC – As candidates vie to set the agenda for the next presidency, Democratic primary voters in Iowa, New Hampshire, Nevada, and South Carolina strongly support a tough approach to oversight and reform of Wall Street, according to a new poll conducted by the bipartisan team of Lake Research...

WASHINGTON, D.C. – Strong majorities across political parties show concern about the level of student debt in the United States and oppose the Department of Education’s and the Consumer Financial Protection Bureau's (CFPB) recent actions to weaken protections for students, according to a new poll released by Americans for Financial Reform (AFR) and the Center for Responsible Lending (CRL). The...

WASHINGTON, D.C. – Today, U.S. Senator Lamar Alexander (R-TN), chair of the Senate Health, Education, Labor, and Pensions Committee (HELP) Committee, unveiled a package of eight bills to rewrite parts of the Higher Education Act. This action comes after Alexander once again blocked consideration of the Fostering Undergraduate Talent by Unlocking Resources for Education (FUTURE) Act, which would have extended...

WASHINGTON, D.C. – Today, the U.S. House of Representatives passed the Forced Arbitration Injustice Repeal Act (FAIR Act) (H.R. 1423), a bill that would restore the ability of Americans to take their disputes with companies to a real court of law. Specifically, the legislation would prohibit contracts from requiring civil rights, consumer, or employment disputes be settled in arbitration –...