Press Releases

WASHINGTON, D.C. – Last week, Dr. Miguel Cardona was confirmed as the Secretary of Education by the U.S. Senate. Federal Advocacy Director for the Center for Responsible Lending (CRL) Ashley Harrington made the following statement: Secretary Cardona’s confirmation bodes well for student borrowers, millions of whom are bearing unmanageable student debt as a result of federal policy choices and failures...

WASHINGTON, D.C. – Today, the U.S. Senate passed President Biden’s $1.9 trillion stimulus plan. Due to substantive changes in the bill, the measure must return to the House floor for a vote before it can reach the President’s desk. Under the legislation, stimulus checks would phase out entirely for individuals earning more than $80,000, federal unemployment benefits were kept at...

WASHINGTON, D.C. – Late Wednesday, the House addressed important issues key to anti-corruption and safeguarding our democracy. The first, HR1—or the For the People Act—would overhaul government ethics and campaign finance laws and seek to strengthen voting rights by creating automatic voter registration and expanding access to early and absentee voting. The other, The George Floyd Justice in Policing Act...

WASHINGTON, D.C. – Today, the Senate confirmed Dr. Cecilia Rouse as Chair of the Council of Economic Advisers (C.E.A.) by a 95 to 4 vote—making her the first Black leader in its 75-year history. Center for Responsible Lending Executive Vice President Nikitra Bailey released the following statement today on her confirmation: Dr. Cecilia Rouse has long focused on discrimination and...

OAKLAND, Calif.– The Center for Responsible Lending (CRL), Public Counsel, Western Center on Law and Poverty (WCLP), Fines and Fees Justice Center (FFJC), Community Legal Services in East Palo Alto (CLSEPA), The Insight Center, and Legal Services for Prisoners with Children (LSPC) filed an amicus brief today in support of the petitioner in California v. Kopp before the California Supreme...

Without needing action from Congress, the plan lays out a path for utility regulation of Fannie and Freddie and for dedicating nearly $100 billion toward addressing the country’s housing needs WASHINGTON, D.C. – Today, the Brookings Institution published a new report by Mike Calhoun, President at the Center for Responsible Lending (CRL), and Lewis Ranieri, Chairman and CEO of Raneiri...

WASHINGTON, D.C. – Today, President Biden and the Small Business Administration announced several important improvements to the Paycheck Protection Program (PPP) designed to help small businesses survive the pandemic economy. The $800 billion PPP had structural flaws since its inception that favored larger, more well-resourced businesses. Nearly 95% of Black-owned firms and 91% of Latino-owned firms have no employees beyond...

WASHINGTON, D.C. – Today, President Biden announced several fixes to the rules of the Paycheck Protection Program (PPP), including one that will ensure a more accurate determination of the level of small business relief that sole proprietors and independent contractors need and are entitled to receive. Over 100 organizations supporting African American, Latino and immigrant-owned businesses recently called for immediate...

WASHINGTON, D.C. – The Center for Community Self-Help (Self-Help) and its policy-focused affiliate, the Center for Responsible Lending (CRL), called for stronger rules implementing the Community Reinvestment Act (CRA) – a landmark civil rights and anti-redlining law – in their jointly filed comment letter to the Federal Reserve Board on its Advanced Notice of Proposed Rulemaking (ANPR). Melissa Stegman, Senior...

Seventeen states and DC now cap rates at around 36% or lower to stop abusive debt trap loans, with Illinois poised to become the eighteenth DURHAM, NC – Today, the Center for Responsible Lending (CRL) released a new map showing the typical annual interest rate of a payday loan in states across the country. The map reflects a trend toward...