Press Releases

WASHINGTON, D.C. – Today, the Brookings Institution published a new research report by the Center for Responsible Lending (CRL) that explores how online programs from for-profit institutions negatively affect low-income students, particularly African Americans, veterans, and female heads of household. The report also addresses the trend of for-profit colleges going exclusively online or partnering with non-profit institutions to run their...

WASHINGTON, D.C. - Today, Center for Responsible Lending (CRL) President Mike Calhoun testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs for a hearing on “Chairman’s Housing Reform Outline: Part 2.” In his testimony, Calhoun discussed that any reform of the U.S. housing system must ensure access to safe and affordable mortgage loans for all creditworthy borrowers...

WASHINGTON, D.C. – Today, U.S. Senators Maggie Hassan (D-N.H.) and Richard Durbin (D-Ill.) introduced the Preventing Risky Operations from Threatening the Education and Career Trajectories of (PROTECT) Students Act of 2019, a bill to protect higher education students by improving oversight and accountability of colleges and universities, particularly for-profit institutions. The bill would improve the 2014 Gainful Employment (GE) rule...

WASHINGTON, D.C. – This week, U.S. Secretary of Education Betsy DeVos will testify before the House and Senate Appropriations Subcommittees, where she will need to explain her decision to drastically reduce funding for higher education programs, many that target low-income students, in the upcoming fiscal year. Today will be Secretary DeVos’ first time testifying before a Democratic-controlled House. On Thursday...

WASHINGTON, D.C. – Today, President Donald Trump signed an executive order addressing free speech, transparency and accountability on campus, a move that comes after conservative groups claimed their voices being silenced at colleges and universities throughout the country. Aside from ensuring that colleges receiving federal research or education grants promote free speech, the order directs the Education Department to publish...

If consumer bureau delays payday rule, it would “inflict profound financial and psychological harm on consumers, particularly communities of color and those on a fixed income” WASHINGTON, D.C. – Today, several national consumer and civil rights groups released their official comment letter, linked here, to the Consumer Financial Protection Bureau (CFPB) on its new leadership’s proposed delay of a 2017...

"Do not rob the poor because they are poor;” participants quote verse as predatory lenders enjoy golf under the Miami sky MIAMI, Fla. – Faith leaders from Texas, Louisiana, Georgia, Missouri, Colorado, Virginia and North Carolina joined Florida clergy and Miami faithful today at the gates of President Trump’s golf course resort, the Trump National Doral Miami, to bring attention...

DURHAM, N.C. – Debt collection abuses rank first in the type of complaints filed by Washington State military servicemembers to the Consumer Financial Protection Bureau, and second for all consumers in the state. A new Center for Responsible Lending (CRL) report may help explain why. “ Debt by Default: Debt Collection Practices in Washington 2012-2016” found that over 80% of...

Representatives and Senators Repeatedly Grilled the Director on Proposal that would Keep Consumers Trapped in Debt WASHINGTON, D.C. – Today, in her second hearing before Congress, Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger struggled in explaining why she issued a plan that would gut a rule designed to protect Americans from debt trap payday and car title loans. Center...

View the map. Durham, N.C. – Today, Trump-Appointed Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger’s plan to gut the payday rule was published in the Federal Register, which starts the clock for public comment on the proposal. To provide context for this action, the Center for Responsible Lending (CRL) is releasing its two-page initial overview and analysis of the...