Research

CRL and several other consumer and civil rights organizations commend the Office of the Comptroller of the Currency for issuing best practices on banks' sales of charged-off consumer debt. They urge the OCC to strengthen debt management practices further by adopting strict guidance to reduce harm to American families.

Enrolling in a for-profit college usually means higher costs of attendance and higher default rates on student loans. This research brief explores why students of color – African-American and Latino - enroll more frequently in these schools than do white students. CRL also reviews how the Department of Education's proposed Gainful Employment rule could improve student outcomes.

Oneshia Herring, legislative counsel at CRL, discusses three reasons why payday loans are an inherently defective product that violate any reasonable concept of fair and responsible lending. This testimony was presented at a CFPB field hearing on March 25, 2014, in Nashville, Tennessee.

A 13-member coalition of civil rights, housing and legal advocates called upon the U.S. Senate Banking Committee to preserve equal access to mortgage credit for all qualified borrowers. Together the groups stated that a robust housing market must be fair with equal credit terms and effective regulation. They also noted that the nation's demographic shifts will translate into seven out...

With America's student debt now more than $1 trillion and still growing, many borrowers face the likelihood of delaying their ability to begin their own households, buy a home or a vehicle. Further, in a tight job market, many new graduates are financially challenged to begin repayment even with their newly-acquired marketable skills. For consumers enrolled in predatory career education...

CRL recently expressed support for the Massachusetts' Attorney General proposed regulations for occupational and for-profit schools. In its comments, CRL cited that although only 13 percent of students are enrolled at these schools, they account for 46 percent of federal student loan defaults – often in addition to high-cost private loans.

Negotiating on Car Loans Doesn't Help African Americans and Latinos Trying to negotiate a better interest rate on your car loan should generally result in a better deal, right? Not so for buyers of color who get loans from dealers. Our survey finds that African Americans and Latinos attempt to negotiate loan pricing with car dealers more often than white...

CRL President Mike Calhoun testified before the House Financial Services Committee that CFPB's rules strike the right balance of providing borrower protections while also ensuring access to credit.

In 2014, new mortgage lending reforms go into effect. Finalized by the Consumer Financial Protection Bureau, the reforms respond to the abusive lending practices that triggered the nation's financial crisis. The new rules also protect and preserve access to credit. Lenders must now consider whether a borrower has the ability to repay a mortgage. This change means an end to...

In reply to the Department of Education's request for comments on the form used by colleges to apply to be eligible for federal student loan funds, CRL called for attention to the arbitration agreements between schools and their students and employees. CRL said that forced arbitration undermines the transparency and accuracy of information reported by the schools, and could threaten...