Research

“Oportun,” is almost a translation of the Spanish word for “opportunity,” but is a few letters shy of the full word: oportunidad. Unfortunately, Oportun’s practices leave people questioning just how much financial opportunity consumers receive as a result of using these products. “Partner with us today to build a better tomorrow.” “We’re committed to our community.” These messages and other...

Even before COVID-19, student loan borrowers struggled under the weight of more than $1.6 trillion in debt. One in four borrowers was in default or serious delinquency, and many worried about their ability to make student loan payments while covering other basic needs. Because of decades of structural inequities and discrimination, student loans have burdened Black and Latino borrowers more...

Over 800,000 self-employed people were behind on their student debt before the pandemic and may be ineligible or have the perception that they are ineligible for the relief they need to survive in a faltering economy. Because of structural inequities including racial wealth disparities, ongoing discrimination in the labor market, and inadequate funding for colleges that well serve higher numbers...

Key points from the poll results include: Forty-five percent of NC student loan borrowers report a decrease in their household income since the onset of COVID-19, with the most severe impact hitting borrowers who earn less than $50,000 per year (55% reporting a decrease). Seventy-three percent of NC student loan borrowers report that their student loans cause them stress. Additionally...

Even before COVID-19, student loan borrowers struggled under the weight of more than $1.6 trillion in debt. One in four borrowers was in default or serious delinquency, and many worried about their ability to make student loan payments while covering other basic needs. Because of decades of structural inequities and discrimination, student loans have burdened Black and Latino borrowers more...

Through this poll we explore the financial impacts of COVID-19 on Pennsylvanians. The poll was conducted in June 2020 among a national sample of 415 Pennsylvania student loan borrowers in repayment.

In 2008, Ohio voters affirmed capping the cost of payday loans in the state at 28% interest; however, payday and car-title lenders engaged in schemes to evade the voter-mandated cap, trapping consumers in a cycle of debt with APRs of over 500%. In 2018, Ohio lawmakers approved some restrictions on these lending schemes, but even with these 2018 changes, payday...

Over the past 50 years, wage stagnation, as well as already high and rising housing, health care, and education costs have dramatically increased debt loads for the average family. Moreover, recovery from the Great Recession has been uneven. Data show that families of color, Americans born after 1970, and households earning less than $60,000 annually are the least likely to...

Ten years after passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, with the country again facing an economic crisis, new polling data from Lake Research Partners, commissioned by the Center for Responsible Lending and Americans for Financial Reform shows that voters across all political parties are broadly and intensely supportive of strong consumer financial protections and of...

This study (published in the March-April edition of the Journal of Economics and Business) examines whether borrowers’ race and ethnicity affect subprime loan pricing after accounting for objective determinants, including credit scores and loan-to-value ratios. The results show that African-American and Latino borrowers are more likely to receive higher-rate subprime home loans than non-Latino white borrowers. The authors are Debbie...