Research

Students at Connecticut’s for-profit colleges graduate at lower rates than their peers at public and private non-profit institutions. Those who do graduate carry higher levels of debt and higher default rates on that debt. Because African Americans and Hispanics are disproportionately enrolled in Connecticut’s for-profit colleges, these poor outcomes fall more heavily on people of color. This report uses the...

With little difference across party lines, Coloradoans expressed their strong support for a proposal requiring debt buyers, companies that buy old debts and attempt to collect on them, provide appropriate documentation for the debts they collect and sue on. Survey respondents were asked this question: Would you support or oppose a law requiring debt buyers to provide documentation to the...

Students at Colorado’s for-profit colleges have less favorable outcomes in comparison to their peers at public and private non-profit institutions according to several key indicators, and the impact is greater on students of color. This report uses the data released from the US Department of Education (College Scorecard, September 2015) and compares public, private, and for-profit institutions (also referred to...

Six years after the Great Recession, American households continue to struggle with consumer debt. According to data reported by the Urban Institute, approximately 77 million Americans – 35 percent of adults with credit files – have debt in collections reported on their credit files. These Americans carry about $1,349 in debt. About 31 percent of Colorado residents have debt in...

This analysis provides a summary of the outline of proposals that the CFPB is considering to address debt collection and CRL’s initial reactions to it. As we review the proposal more closely, our reactions may evolve.

The 2015 mortgage data submitted by lenders under the Home Mortgage Disclosure Act (HMDA) reflects a market that troublingly continues to underserve important market segments. For people of color and low- to moderate-income families, access to credit remains tight. The data shows how lenders and secondary market actors underserve these consumers even as large banks continue to have access to...

Payday lending is a high-cost loan product that is built on its ability to churn consumers through a cycle of debt, collecting fees for as long as possible. Fortunately, 15 states and the District of Columbia have made a definitive statement to prohibit high-cost payday loans by adopting interest rate caps of 36% or less. The experiences of consumers in...

CRL Response to “Reframing the Debate about Payday Lending by Liberty Street Economics” Research Comment On: "Do Defaults on Payday Loans Matter?" by Robert Mann Research Comment On: "Payday Loan Rollovers and Consumer Welfare" CRL Critique of “Payday Holiday: How Households Fare After Payday Credit Bans” by Donald P. Morgan and Michael R. Strain CRL Review of "Defining and Detecting...

A recent poll conducted by Lake Research Partners and Chesapeake Beach Consulting finds overwhelming bipartisan support for strong regulation of financial services and products in order to hold financial services companies accountable and protect consumers against unfair practices. By wide margins, Americans call for tough oversight and regulation of Wall Street banks, mortgage companies and credit card servicers, as well...

This paper analyzes California mortgage originations in the post-crisis period, from 2012–2014, using data collected under the Home Mortgage Disclosure Act (HMDA). Similar national analysis provides context for the state-wide observations. Analysis in four large California counties shows the variety of experiences across this large state. The main findings include: National and state-wide analysis reveal a reduction in mortgage credit...