Press Releases

Association for 208 of the Nation’s Largest Corporations Lauded for Call to Restore Major Tools for Eliminating Discrimination and Advancing Housing Equity WASHINGTON, DC – Today, the National Fair Housing Alliance and Center for Responsible Lending, two of the nation’s leading groups working for equitable lending, commended the Business Roundtable for supporting disparate impact and Affirmatively Furthering Fair Housing (AFFH) – two major tools for eliminating discrimination and structural barriers to equal housing opportunities. The Business Roundtable (BRT), which is comprised of 208 of the

Debt collectors too often lack sufficient documentation to prove ownership of debt Greater enforcement and stronger laws needed to protect California consumers OAKLAND, CALIF. – A new report released today by the Center for Responsible Lending (CRL) finds debt collectors in California may have seized more than $700 million from consumers between 2012 and 2017, even though they frequently lack sufficient documentation to establish the validity and ownership of an individual’s debt. The CRL report, “The State of Debt Collection in California” finds that the decks are still stacked against

Updated HEROES Act Deserves Immediate Consideration by U.S. Senate WASHINGTON, D.C. – This evening, the U.S. House of Representatives passed a new comprehensive COVID-19 aid package – an updated version of the HEROES Act. If the bill is also passed by the Senate and signed into law, it would allocate $2.2 trillion and improve the Paycheck Protection Program to better serve the smallest businesses, including businesses owned by Black and Brown people that were shut out of the assistance program due to the prioritization of wealthier and larger enterprises. It would also extend and expand the

CFPB mission of protecting consumers remains extremely popular Voters concerned that federal COVID response favors Wall Street and big corporations WASHINGTON, DC - Ten years after Congress passed a major reform of Wall Street in response to the financial crisis, voters continue to overwhelmingly support more and tougher regulation of finance and they strongly approve of the mission of the Consumer Financial Protection Bureau, according to a new survey by Lake Research Partners. This support has proven remarkably durable and stretches across lines of party, race and ethnicity, age, and region

WASHINGTON, D.C. - President Trump today announced Amy Coney Barrett as his U.S. Supreme Court nominee to replace Justice Ruth Bader Ginsburg, who passed away last week. The Senate Majority has signaled its intention to hold confirmation hearings in October. Center for Responsible Lending President Mike Calhoun released the following statement: The Senate Majority needs to prioritize COVID-19 relief legislation for the rest of this year and not use the remaining time of this session to confirm judicial nominees, leaving millions of Americans vulnerable to financial hardship. More than 200,000

CRA must help address systemic racial barriers and inequality, and it must benefit low-and-moderate-income (LMI) families and families of color WASHINGTON, D.C. - This week in a board meeting, the Board of Governors of the Federal Reserve approved its draft Advance Notice of Proposed Rulemaking (ANPR) on the Community Reinvestment Act (CRA). In May, the Office of the Comptroller of the Currency finalized its CRA rule, while the Federal Deposit Insurance Corp. (FDIC) has yet to join an agency in finalizing a CRA rule. The CRA is a civil rights law designed to expand financial opportunity. The

WASHINGTON, D.C. - Center for Responsible Lending President Mike Calhoun released the following statement on the passing of Supreme Court Justice Ruth Bader Ginsburg: Tonight, we pause to honor the life of Justice Ruth Bader Ginsburg. Justice Ginsburg was a pioneer, a titan, a brilliant jurist, and one of the fiercest advocates for women’s rights and gender equality, civil liberties, and fair pay, among so many other issues. Even before her service on the United States Supreme Court, she shattered glass ceilings and led the fight in setting legal precedents that help women move toward full

WASHINGTON, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Chuck Schumer (D-N.Y.) unveiled a resolution urging President Donald Trump to cancel up to $50,000 in federal student debt through executive action. Center for Responsible Lending (CRL) Federal Advocacy Director and Senior Counsel Ashley Harrington released the following statement: We applaud Senators Warren and Schumer for drafting a plan that would provide crucial student debt relief to at least 44 million borrowers who owe more than $1.5 trillion in student loans. The current public health and economic crisis caused by the

“Qualified Mortgage” should be defined broadly to ensure that more borrowers are able to gain access to the safest mortgage products and the wealth-building opportunities of homeownership Lenders that engage in pricing discrimination should not receive the QM statutory safe harbor Washington, D.C. – With the Consumer Financial Protection Bureau (CFPB) set to update a rule stemming from the Dodd-Frank financial reform law that governs what is considered a borrower-safe “Qualified Mortgage” (QM), leading civil rights and housing groups provided recommendations in their public comment letter on

WASHINGTON, D.C. - Today, Senators voted down the Senate Majority Leader’s narrow COVID-19 bill, which was introduced earlier this week. As written, the bill fails to provide substantive relief for renters, student loan borrowers, small business owners, unemployed workers, and other people who are still struggling during this pandemic. The bill did not receive bipartisan support. Center for Responsible Lending Federal Advocacy Director and Senior Counsel Ashley Harrington released the following statement: This bill is an inadequate response to our current economic fallout and public health