﻿<?xml version="1.0" encoding="utf-8"?><rss version="2.0" xmlns:media="http://search.yahoo.com/mrss/"><channel><title>Cision News</title><link>https://news.cision.com</link><description>Cision is the leading global provider of media research, distribution, monitoring and evaluation services. With over 40 locations throughout the world, Cision provides the insight, expertise and intelligence that improve performance and build reputations.</description><pubDate>Tue, 09 Jun 2026 14:50:24 GMT</pubDate><image><title>Cision News</title><width>146</width><height>60</height><link>https://news.cision.com</link><url>https://news.cision.com/Content/img/news-logo.png</url></image><item><title>BANK PAYDAY LOANS CONTINUE</title><link>http://news.cision.com/center-for-responsible-lending/r/bank-payday-loans-continue,c9389720</link><guid isPermaLink="false">cision1280713</guid><description><![CDATA[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 with a financial emergency, repay the loan, and move on. In fact, this new study provides further evidence that these triple-digit interest rate loans, averaging from 225% to]]></description><pubDate>Thu, 21 Mar 2013 18:12:43 GMT</pubDate></item><item><title>BANK PAYDAY LOANS CONTINUE</title><link>http://news.cision.com/center-for-responsible-lending/r/bank-payday-loans-continue,c9389717</link><guid isPermaLink="false">cision1280708</guid><description><![CDATA[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 with a financial emergency, repay the loan, and move on. In fact, this new study provides further evidence that these triple-digit interest rate loans, averaging from 225% to]]></description><pubDate>Thu, 21 Mar 2013 18:07:56 GMT</pubDate></item><item><title>Car-Title Loans Cost U.S. Consumers $3.6 Billion Annually</title><link>http://news.cision.com/center-for-responsible-lending/r/car-title-loans-cost-u-s--consumers--3-6-billion-annually,c9378020</link><guid isPermaLink="false">cision1257743</guid><description><![CDATA[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 http://rspnsb.li/13ZMZ8V. “Driven to Disaster: Car-Title Lending and Its Impact on Consumers,” provides the first national estimate of the size of the car-title loan market and details its potentially]]></description><pubDate>Thu, 28 Feb 2013 20:28:08 GMT</pubDate></item><item><title>HUD RULE REAFFIRMS AMERICA’S COMMITMENT TO FAIRNESS FOR ALL</title><link>http://news.cision.com/center-for-responsible-lending/r/hud-rule-reaffirms-america-s-commitment-to-fairness-for-all,c9368029</link><guid isPermaLink="false">cision1237359</guid><description><![CDATA[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 lauds the vigilance of the entire civil rights community for its long and hard-fought effort helping to make America’s reality live up to its promises.

For more]]></description><pubDate>Fri, 08 Feb 2013 22:07:05 GMT</pubDate></item><item><title>CRL: Cordray's Renomination Is Good News</title><link>http://news.cision.com/center-for-responsible-lending/r/crl--cordray-s-renomination-is-good-news,c9361060</link><guid isPermaLink="false">cision1223599</guid><description><![CDATA[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 benefitting American families, responsible lenders, and the overall economy.  The CFPB should be allowed to continue this important work without the disruption of an]]></description><pubDate>Thu, 24 Jan 2013 20:42:25 GMT</pubDate></item><item><title>CFPB RULES HOLD MORTGAGE SERVICERS MORE ACCOUNTABLE</title><link>http://news.cision.com/center-for-responsible-lending/r/cfpb-rules-hold-mortgage-servicers-more-accountable,c9358475</link><guid isPermaLink="false">cision1219050</guid><description><![CDATA[Statement from CRL President Mike Calhoun

Print this (http://www.responsiblelending.org/media-center/press-releases/archives/CFPB-Rules-Hold-Mortgage-Servicers-More-Accountable.html)

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 standards such as requiring a timely application of monthly mortgage payments and a prompt correction of errors.  The rules also restrict servicers from forcing borrowers]]></description><pubDate>Thu, 17 Jan 2013 15:48:08 GMT</pubDate></item><item><title>PROTECTING BORROWERS FROM THE NEXT LENDING CRISIS: THE CFPB’S RULES ON ABILITY TO REPAY AND QUALIFIED MORTGAGES</title><link>http://news.cision.com/center-for-responsible-lending/r/protecting-borrowers-from-the-next-lending-crisis--the-cfpb-s-rules-on-ability-to-repay-and-qualifie,c9356011</link><guid isPermaLink="false">cision1214275</guid><description><![CDATA[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 borrowers alike to understand. And the rules preserve legal protection for borrowers with the riskiest loans.

The rules—required by the Dodd-Frank Act of 2010—address head-on a]]></description><pubDate>Thu, 10 Jan 2013 16:48:39 GMT</pubDate></item><item><title>LENDING IN AMERICA: PREDATORY PRACTICES PERSIST</title><link>http://news.cision.com/center-for-responsible-lending/r/lending-in-america--predatory-practices-persist,c9348680</link><guid isPermaLink="false">cision1199200</guid><description><![CDATA[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 report: http://rspnsb.li/state-of-lending (http://rspnsb.li/stateoflending).

The State of Lending in America and its Impact on U.S. Households (State of Lending) paints a picture of working]]></description><pubDate>Wed, 12 Dec 2012 14:29:23 GMT</pubDate></item><item><title>FHA PLAYS A CRITICAL HOUSING ROLE</title><link>http://news.cision.com/center-for-responsible-lending/r/fha-plays-a-critical-housing-role,c9336223</link><guid isPermaLink="false">cision1174425</guid><description><![CDATA[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 overall.  It is essential that FHA continue to fulfill this role, especially as the recovery continues.

It is also essential that FHA operate on a financially sound basis. FHA has]]></description><pubDate>Fri, 16 Nov 2012 22:46:30 GMT</pubDate></item><item><title>Foreclosures Drain $2 Trillion from Neighboring Homes, Half from Neighborhoods of Color</title><link>http://news.cision.com/center-for-responsible-lending/r/foreclosures-drain--2-trillion-from-neighboring-homes--half-from-neighborhoods-of-color,c9324133</link><guid isPermaLink="false">cision1149049</guid><description><![CDATA[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 homeowners suffer by living near foreclosed properties—the “spillover” cost. Also, for the first time, the research examines the impact in minority neighborhoods. Read the full]]></description><pubDate>Wed, 24 Oct 2012 15:57:53 GMT</pubDate></item><item><title>DODD-FRANK ANNIVERSARY POLL: 3 OUT OF 4 VOTERS FAVOR STRONG OVERSIGHT OF WALL STREET</title><link>http://news.cision.com/center-for-responsible-lending/r/dodd-frank-anniversary-poll--3-out-of-4-voters-favor-strong-oversight-of-wall-street,c9285727</link><guid isPermaLink="false">cision1076626</guid><description><![CDATA[Bipartisan Support for Consumer Financial Protection Bureau
Center for Responsible Lending
July 18, 2012

WASHINGTON, D.C. -- Financial reforms enacted in response the financial meltdown remain popular with Americans likely to vote in 2012, a new opinion poll by Lake Research Partners shows. The poll was commissioned by AARP, the Center for Responsible Lending (CRL), Americans for Financial Reform (AFR) and the National Council of La Raza (NCLR). Saturday (July 21, 2012) marks the two-year anniversary of the Dodd Frank Act, which created the Consumer Financial Protection Bureau (CFPB).]]></description><pubDate>Wed, 18 Jul 2012 16:36:42 GMT</pubDate></item><item><title>Wells Fargo Settles with DOJ on Abusive Lending</title><link>http://news.cision.com/center-for-responsible-lending/r/wells-fargo-settles-with-doj-on-abusive-lending,c9284242</link><guid isPermaLink="false">cision1073827</guid><description><![CDATA[Wells to Pay $175 million for steering and overcharges
Center for Responsible Lending
July 12, 2012

Today’s Department of Justice fair lending settlement with Wells Fargo Bank is welcome news, and highlights the benefits of new mortgage rules to combat predatory lending.  The DOJ settlement of $175 million settles charges that Wells Fargo steered about 4,000 African-American and Hispanic families into higher-cost subprime mortgages while white borrowers with similar qualifications received safer, cheaper prime loans. DOJ also found that about 30,000 people of color paid more for their]]></description><pubDate>Thu, 12 Jul 2012 19:04:38 GMT</pubDate></item><item><title>California Legislature Sends Homeowner Bill of Rights to Governor</title><link>http://news.cision.com/center-for-responsible-lending/r/california-legislature-sends-homeowner-bill-of-rights-to-governor,c9280151</link><guid isPermaLink="false">cision514425</guid><description><![CDATA[First-in-the-nation legislative package will make foreclosure process fairer, hold banks accountable
Both houses of the California Legislature today approved the Foreclosure Reduction Act, a bill designed to reduce unnecessary foreclosures in the state. The bill is the centerpiece legislation of Attorney General Kamala Harris' Homeowner Bill of Rights.

“This is monumental,” said CRL California Director Paul Leonard. “For the past three years, the legislature has said ‘no’ to making the foreclosure process fairer for consumers. Today, they finally said ‘yes.’”

AB 278 and SB 900 contain]]></description><pubDate>Mon, 02 Jul 2012 22:18:56 GMT</pubDate></item><item><title>Expanding Refinances Could Save Billions for Homeowners</title><link>http://news.cision.com/center-for-responsible-lending/r/expanding-refinances-could-save-billions-for-homeowners,c9278310</link><guid isPermaLink="false">cision512594</guid><description><![CDATA[Center for Responsible Lending
June 27, 2012

A housing bill introduced in the Senate could more than double the number of homeowners who refinance under a federal mortgage program and also more than double their potential savings, according to an estimate by researchers at Columbia University. To be eligible, homeowners must have a mortgage backed by Fannie Mae or Freddie Mac and be current on the payments.

Researchers at The Paul Milstein Center for Real Estate at Columbia Business School estimate that streamlining refinances would increase the total number of homeowners who]]></description><pubDate>Wed, 27 Jun 2012 21:27:02 GMT</pubDate></item><item><title>Statement of Center for Responsible Lending California Director Paul Leonard on Legislative Conference Committee Passage of Homeowner Bill of Rights</title><link>http://news.cision.com/center-for-responsible-lending/r/statement-of-center-for-responsible-lending-california-director-paul-leonard-on-legislative-conferen,c9278261</link><guid isPermaLink="false">cision512572</guid><description><![CDATA[Legislation Will Level the Playing Field for Borrowers Across California, and Ensure That All Borrowers Get Full and Fair Consideration for Loan Modifications
June 27, 2012

Six weeks of negotiations between banks, the bipartisan legislative conference committee, the Attorney General and consumer groups have produced a Homeowner Bill of Rights that deserves to pass both floors of the Legislature and be signed by Gov. Jerry Brown as soon as possible.

The Homeowner Bill of Rights will prevent unnecessary foreclosures without putting undue burden on banks by implementing the following key]]></description><pubDate>Wed, 27 Jun 2012 17:21:46 GMT</pubDate></item><item><title>New Research: Homeowner Bill of Rights could speed economic recovery</title><link>http://news.cision.com/center-for-responsible-lending/r/new-research--homeowner-bill-of-rights-could-speed-economic-recovery,c9277100</link><guid isPermaLink="false">cision511407</guid><description><![CDATA[Loan modifications work, critical to stabilizing housing market
More than 80 percent of California homeowners who received modifications in 2010 stayed current and avoided re-default despite the continued recession, according to a new Center for Responsible Lending analysis.

These new data indicate that the Homeowner Bill of Rights is critical for large numbers of borrowers, their communities and the overall California housing market. The legislation (http://rspnsb.li/Lwd6Ri), which has undergone six weeks of intense negotiation with banks, legislators, the Attorney General and consumer]]></description><pubDate>Mon, 25 Jun 2012 19:29:15 GMT</pubDate></item><item><title>New CRL Research: Predatory Credit Card Practices Hurt Banks’ Bottom Line</title><link>http://news.cision.com/center-for-responsible-lending/r/new-crl-research--predatory-credit-card-practices-hurt-banks--bottom-line,c9257304</link><guid isPermaLink="false">cision490955</guid><description><![CDATA[Center for Responsible Lending

May 8, 2012

Credit card losses in the current downturn mounted faster at banks using unfair, deceptive card practices, new CRL research finds. That’s because high-cost penalty fees and interest rates were not used to mitigate risk—as credit card issuers claimed—but instead were the risk that led to higher default rates. Read the report, “Predatory Credit Card Lending: Unsafe, Unsound for Consumers and Lenders,” here http://rspnsb.li/KJEwgp.

In addition to showing that practices that hurt consumers also hurt credit card issuers, the study finds:

  ·]]></description><pubDate>Tue, 08 May 2012 14:06:39 GMT</pubDate></item><item><title>“Yo-Yo” Car-Dealer Scams Rig the Game, Push Buyers into Bad Loans, New CRL Research Shows</title><link>http://news.cision.com/center-for-responsible-lending/r/yo-yo--car-dealer-scams-rig-the-game--push-buyers-into-bad-loans--new-crl-research-shows,c9243649</link><guid isPermaLink="false">cision476917</guid><description><![CDATA[Dealers who use bait-and-switch scams often target those least able to walk away from the deal
Center for Responsible Lending
April 4, 2012

Car dealers often target consumers with poor or no credit for yo-yo scams, a new CRL report demonstrates. “Yo-yo scams occur when a dealer leads a car buyer to believe financing is final,” says CRL senior researcher Delvin Davis, author of the report, Deal or No Deal: How Yo-Yo Scams Rig the Game against Car Buyers. “The dealer lures the consumer back to the dealership, claims the financing fell through, and then pressures the consumer to agree to a]]></description><pubDate>Wed, 04 Apr 2012 15:58:53 GMT</pubDate></item><item><title>CRL Receives 2012 MacArthur Award for Creative and Effective Institutions</title><link>http://news.cision.com/center-for-responsible-lending/r/crl-receives-2012-macarthur-award-for-creative-and-effective-institutions,c9221140</link><guid isPermaLink="false">cision453494</guid><description><![CDATA[Today the John D. and Catherine T. MacArthur Foundation named the Center for Responsible Lending (CRL) as a recipient of the MacArthur Award for Creative and Effective Institutions.  The award recognizes CRL’s decade of work fighting predatory lending practices nationally, and provides the group with a major grant to support future efforts.  CRL is one of only 15 organizations from six countries to be recognized today with this award.

More information about the MacArthur Award can be found at http://rspnsb.li/AAtdIa, and CRL's award profile is at http://rspnsb.li/xufFtQ.

“The award]]></description><pubDate>Thu, 16 Feb 2012 14:40:03 GMT</pubDate></item></channel></rss>