Releases - Center for Responsible Lending

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BANK PAYDAY LOANS CONTINUE

3/21/2013 2:12 PM EST
REGULATORY GUIDANCE NEEDED
Center for Responsible Lending
March 21, 2013

Seniors Face Particular Risks

Banks making payday loans continue to trap customers in a cycle of debt, a new study by the Center for Responsible Lending shows. Read the report, “Triple Digit Danger: Bank Payday Lending Persists,” at http://rspnsb.li/160xMHv. 

Banks pitch payday loans as short-term borrowing that allows customers to deal...

BANK PAYDAY LOANS CONTINUE

3/21/2013 2:07 PM EST
REGULATORY GUIDANCE NEEDED
Center for Responsible Lending
March 21, 2013

Seniors Face Particular Risks

Banks making payday loans continue to trap customers in a cycle of debt, a new study by the Center for Responsible Lending shows. Read the report, “Triple Digit Danger: Bank Payday Lending Persists,” at http://rspnsb.li/160xMHv. 

Banks pitch payday loans as short-term borrowing that allows customers to deal...

Car-Title Loans Cost U.S. Consumers $3.6 Billion Annually

2/28/2013 3:28 PM EST
300 Percent Interest Makes Borrowers Pay Twice What They Receive in Credit
Center for Responsible Lending

February 28, 2013

 

Durham, N.C.--Car-title loans cost borrowers $3.6 billion in interest each year, more than twice the $1.6 billion in credit borrowed, a new report from the Center for Responsible Lending (CRL) and Consumer Federation of America (CFA) shows. For the full report, go to...

HUD RULE REAFFIRMS AMERICA’S COMMITMENT TO FAIRNESS FOR ALL

2/8/2013 5:07 PM EST
Center for Responsible Lending
February 8, 2013

Today’s announcement by the U.S. Department of Housing and Urban Development provides a welcome and critically important national standard for discrimination in housing and housing lending. Fair housing is fundamental to every family’s pursuit of the American Dream. By issuing this disparate impact rule, HUD reaffirmed the nation’s commitment to fairness for all.

CRL...

CRL: Cordray's Renomination Is Good News

1/24/2013 3:42 PM EST
CRL STATEMENT ON RENOMINATION OF CFPB DIRECTOR CORDRAY

Center for Responsible Lending
January 24, 2013

We’re pleased that President Obama has re-nominated Richard Cordray as Director of the Consumer Financial Protection Bureau. Under Director Cordray’s leadership, the CFPB has struck an important balance between improving key consumer protections and preserving access to credit and financial services. Its work is...

CFPB RULES HOLD MORTGAGE SERVICERS MORE ACCOUNTABLE

1/17/2013 10:48 AM EST
Statement from CRL President Mike Calhoun

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Center for Responsible Lending
January 17, 2013

New rules from the Consumer Financial Protection Bureau will benefit millions of Americans by fixing several key problems that have plagued mortgage servicing. The rules establish basic...

PROTECTING BORROWERS FROM THE NEXT LENDING CRISIS: THE CFPB’S RULES ON ABILITY T...

1/10/2013 11:48 AM EST
Center for Responsible Lending
January 10, 2013

The Consumer Financial Protection Bureau’s new rules generally strike a balanced, reasonable approach to mortgage lending and implement important consumer protections. The standard CFPB establishes for a safe, well-underwritten mortgage is appropriately broad enough to include the vast majority of creditworthy home owners, and  it is clear enough for lenders and...

LENDING IN AMERICA: PREDATORY PRACTICES PERSIST

12/12/2012 9:29 AM EST
Household Balance Sheet Suffers
Center for Responsible Lending
December 12, 2012

In the first report of its kind, the Center for Responsible Lending examines consumer lending markets across-the-board and finds that—despite major gains in regulatory reforms—predatory lending continues to undermine American households trying to rebuild their finances after the recession.

View or download the...

FHA PLAYS A CRITICAL HOUSING ROLE

11/16/2012 5:46 PM EST
Center for Responsible Lending President Mike Calhoun: Statement on HUD's report on FHA’s financial status
Nov. 16, 2012

FHA has played a critical role during the housing crisis and the economic downturn. It provided credit to families who otherwise would not have been able to buy homes.  This has helped new home owners, but also helped stabilize neighborhoods and communities and boost the economic recovery...

Foreclosures Drain $2 Trillion from Neighboring Homes, Half from Neighborhoods o...

10/24/2012 11:57 AM EST
Center for Responsible Lending
October 24, 2012

Foreclosures across the United States have drained nearly $2 trillion in property value from surrounding households, more than half of it from African-American and Latino homeowners, a new study from the Center for Responsible Lending finds.

The report, “Collateral Damage: The Spillover Costs of Foreclosures,” updates CRL’s research on the economic harm that...

Center for Responsible Lending

The Center for Responsible Lending is a nonprofit, non-partisan organization that works to protect homeownership and family wealth by fighting predatory lending practices. Our focus is on consumer lending: primarily mort...

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