Research

The National Consumer Law Center, Consumer Federation of America, Center for Responsible Lending and 26 other consumer and civil rights groups sent a letter to federal regulators urging stronger measures to stop illegal payments from being taken out of consumers' bank accounts. The letter went to federal bank regulators, the U.S. Department of Justice, and the Federal Trade Commission.

A Framework for Housing Finance Reform, CRL's new working paper looks to how what's worked well at Fannie Mae and Freddie Mac before conservatorship, can be preserved. Conversely, it also identifies core causes of what went wrong with the two GSEs. The paper's ultimate goal is to bring forth ideas that will provide long-term stability in the marketplace.

Payday loans, whether made online, in stores or by banks are designed to trap individuals in long-term debt. Data consistently show that the majority of payday loan revenue comes from repeatedly churning borrowers, and individuals are typically indebted for most of the year. The predatory features of payday loans, and the impact of their long-term debt on consumers, have in...

Download the Report As a supplement to our full research publications, these resources tell the story of our on-going State of Lending research series visually, through graphs, charts, maps, and video. Related chapters: Mortgages, Auto Loans, Credit Cards, Student Loans The Spillover Cost of Foreclosures by State The Three Scapegoats Your Next Car Loan: Avoid Paying Too Much Prepaid Cards...

In order to create a rule that meets consumer protection goals while also providing flexibility, the CFPB has established four different paths for loans to gain QM status. Each is detailed below: 1. General Definition: The general Qualified Mortgage definition requires eligible loans to not exceed the points and fees threshold, not have negative amortization or interest-only payments, not be...

This letter authored by representatives of the nation's largest civil rights advocacy organizations speaks to key policy concerns: preserving both access to mortgages and low down payments. Together, these two issues enhance the abilities of families to build wealth.

Five years after the start of the economic crisis, public opinion continues to solidly favor both strong regulation of banks and financial companies and the need for the Consumer Financial Protection Bureau, according to a national telephone survey of likely voters conducted this summer. The survey of 1,004 likely voters was conducted between July 8-11, 2013, by Lake Research Partners...

In this analysis of the fifth report by the Monitor of the National Mortgage Settlement, the Center for Responsible Lending concludes that borrowers have benefitted from more transparent oversight of the negotiated servicing practices by participating banks. With more than $51 billion in gross benefits have been provided to 643,000 borrowers, CRL also poses questions on outstanding items.

The financial harm caused by over 12.5 million foreclosures from 2007-2012 is the focus of this brief, the fifth in a series of updated on related findings. Between 2007 and 2012, over 12.5 million homes have gone into foreclosure. These foreclosures directly harm the families that experience them, obviously, and they also have negative effects that extend to the neighborhood...

As various proposals call for mortgage lending reform, CRL speaks to the importance of preserving broad access to credit. This fact sheet also explains how government-mandated down payments would deny many consumers the chance to become first-time homebuyers.