Press Releases

DURHAM, N.C. – Today, Governor J.B. Pritzker is signing the Illinois Predatory Loan Prevention Act, which caps annual interest on consumer loans at 36%. The bill was part of a package put forth by the Legislative Black Caucus to address racial inequities in the state. It will save Illinois families more than $500 million per year in predatory fees and...

Only a majority vote in Congress would be needed to overturn rule that helps triple-digit interest rate loans evade state and voter-approved interest rate caps and spread across the country WASHINGTON, D.C. – With just a few days left before a crucial deadline, the Center for Responsible Lending (CRL) today joined a broad coalition of organizations is calling for Congress...

Borrower Bill of Rights Would Provide Oversight of Loan Servicers St. Paul, MN — A student debt crisis of epic proportions is causing stress and strain for Minnesotans who are struggling to repay their loans and putting off other bills, according to a Morning Consult survey commissioned by the Center for Responsible Lending (CRL) and Education Minnesota (EDMN). Three-quarters of...

WASHINGTON, D.C. – Yesterday, over 60 community development, civil rights, and small business groups urged Congress to extend the Paycheck Protection Program (PPP) until June 30, 2021. The House voted overwhelmingly to extend the program, but the Senate has not yet voted. The group also called for a recent rule change in how loan amounts are calculated to be made...

California-based Oportun has filed the most debt collection cases in the state and sues to intimidate its mostly Latino customer base WASHINGTON, D.C. – A new report released today by the Center for Responsible Lending (CRL) offers new evidence that Oportun, the California-based financial services provider that also operates in eight other states, regularly engages in egregious, abusive, and intimidating...

WASHINGTON, D.C. – Eight people were killed Tuesday night in three shootings that occurred in the metro-Atlanta area. Six of the victims were Asian women. While officials have yet to determine the motive of the attacks, these shootings occurred at a time when, as documented by recently released reports, violent attacks and harassment against people of Asian descent has surged...

WASHINGTON, D.C. – Today, the U.S. Senate, in a bipartisan vote, confirmed Isabel Guzman to head the Small Business Administration (SBA). Ms. Guzman previously led California’s Office of the Small Business Advocate and served as SBA deputy chief of staff during the Obama Administration. Center for Responsible Lending Director of Latino Affairs Aracely Panameño issued the following statement: At this...

WASHINGTON, D.C. – Today, Center for Responsible Lending (CRL) Executive Vice President Nikitra Bailey testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs for a hearing entitled ‘Home = Life: The State of Housing in America.’ Linked here are Ms. Bailey’s oral testimony, written testimony, and video of the entire hearing. CRL live-tweeted the hearing. CRL EVP...

WASHINGTON, D.C. – Today, the U.S. House voted overwhelmingly to extend the Paycheck Protection Program (PPP) through June 30, 2021. Center for Responsible Lending Director of Advocacy Ashley Harrington issued the following statement: We applaud the House for extending the Paycheck Protection Program, which is a lifeline for small businesses, including many Black and Latino-owned businesses that are vital to...

WASHINGTON, D.C. – President Joe Biden signed the $1.9 trillion American Rescue Plan Act into law on Thursday. In response, Center for Responsible Lending (CRL) President Mike Calhoun made the following statement: We applaud President Biden for passing this historic legislation that will be paramount to benefitting millions of Americans, including Black, Latino, and low-income families, as well as Black...