Press Releases

WASHINGTON, D.C. - The Center for Responsible Lending, National Consumer Law Center, and National Community Reinvestment Coalition filed an amicus brief in Lacewell v. Office of the Comptroller of the Currency (OCC), in support of the plaintiff, the New York State Department of Financial Services (DFS), against the OCC’s plan to issue “special purpose national bank” charters to nonbank lenders...

WASHINGTON, D.C. - Today, State Attorneys General from California, Illinois, and New York filed a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently announced final rule that encourages online nonbank lenders to launder their loans through banks so they can offer high-cost triple-digit loans in states where such loans are illegal. The rule was strongly opposed...

Washington, D.C. — The Bank Policy Institute (BPI), Center for Responsible Lending (CRL) and Independent Community Bankers of America (ICBA) today urged Congress to impose a three-year moratorium on industrial loan company licensing applications. The moratorium on Federal Deposit Insurance Corporation approvals would provide Congress time to close the ILC loophole and ensure ILCs and their parent companies don’t pose...

WASHINGTON D.C. – Last night, the U.S. Senate unveiled a $1 trillion rescue package called the HEALS Act in response to the ongoing public health and economic crisis resulting from the COVID-19 pandemic. The bill falls far short of what is needed to support families and businesses in this crisis. It fails to include additional funding to state and local...

WASHINGTON, D.C. - This week, President Trump issued an unconstitutional memorandum barring undocumented immigrants from being counted in the Census when lawmakers redraw Congressional Districts next year. Center for Responsible Lending President Mike Calhoun released the following statement: This unconstitutional memorandum is effectively robbing immigrants of their humanity, agency, and dignity as contributing and integral members of American society and...

Fair housing advocates denounce Trump’s newest effort to eliminate a critical tool to desegregate communities and call on the president to instead concentrate on ensuring housing equity during a pandemic. Washington, D.C.- Today, a coalition of civil rights, affordable housing and consumer advocacy organizations condemned the move by the Trump administration to eliminate a critical tool for addressing systemic racism...

OCC Seeks to Bless Bank/Payday Lender Partnerships that Enabled Evasion of NC Usury Caps in Early 2000’s Durham, NC — Yesterday, the Office of the Comptroller of the Currency (OCC) proposed a rule that would allow predatory lenders to partner with out-of-state banks for the purpose of evading North Carolina’s interest rate cap. The “true lender” rule would enable the...

On Thursday, July 23, CRL to host virtual discussion to commemorate Dodd-Frank anniversary with special introductions by Congresswoman Maxine Waters & U.S. Senator Elizabeth Warren View virtual talk and RSVP details. WASHINGTON, D.C. – Center for Responsible Lending (CRL) President Mike Calhoun released the following statement marking the 10-year anniversary since the Dodd-Frank Wall Street Reform and Consumer Protection Act...

Bank regulator’s plan would facilitate triple-digit interest rate loans that violate state rate cap laws WASHINGTON, D.C. – Today, the Office of the Comptroller of the Currency (OCC) proposed a so-called “true lender” rule that would facilitate fraudulent “rent-a-bank” schemes where a non-bank lender forms a superficial partnership with a bank in order to charge interest rates beyond what state...

For Planning Purposes: ***Advisory for Thursday, July 23, AT 3:30 p.m. ET/ 12:30 p.m. PT*** The Civil Rights Fight Behind Dodd-Frank: A Reflection of the Last Decade With special speakers: Congresswoman Maxine Waters & U.S. Senator Elizabeth Warren WASHINGTON, D.C. - On Thursday, July 23, at 3:30 p.m. ET/ 12:30 p.m. PT, the Center for Responsible Lending (CRL) will host...