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Gainful Employment: A Civil Rights Perspective
CRL and seven other civil rights organizations jointly authored a policy brief that shares the adverse impacts students of color experience and a primary impetus for a strong gainful employment rule.

CRL Comment on HMDA Changes
On October 29, the Center for Responsible Lending joined a coalition of consumer and civil rights organization to comment on the proposed changes to the Home Mortgage Disclosure Act (HMDA) reporting requirements.

Three Ways to Fix Private Student Loan Troubles
This thoughtful op ed highlights key problems with private student loans and also offers ways regulators can better assist consumers.

Analysis: New State Data Show California Payday Lenders Continue to Rely on Trapping Borrowers in Debt
The California Department of Business Oversight (DBO) released data on October 3, 2014 showing the extent to which repeat lending comprises the bulk of payday loan activity.[i] Over 75% of all payday loan fees are from borrowers with 7 or more payday loans in 2013.

Attorneys General in 14 States Support More Accountability From For-Profit Colleges
Attorneys General representing states in the South, Midwest, Southwest and Northeast stand united in support of progressive reforms affecting for-profit college accountability.

Do Students of Color Profit from For-Profit College?
A post-secondary education is increasingly necessary in order to obtain a high-quality job and a lifetime of financial security and wealth-building opportunities. Many students finance their education through student loans because they see its value as an investment in their future. However, the value of that investment is questionable for those students enrolled in for-profit colleges.

2013 HMDA: Data Show People of Color Being Left Behind in Slowly Recovering Mortgage Market
The 2013 mortgage data submitted by lenders under the Home Mortgage Disclosure Act (HMDA) reflects a slowly recovering mortgage market that troublingly continues to under-serve important market segments.

CRL Comment on CFPB Complaint Narratives
This comment supports the CFPB's proposal to make consumer complaint narratives public, and emphasizes the need to do this in the context of student loans. It also provides recommendations on how the complaint intake process could be improved so that more borrowers would be able to submit problems.

CRL President Mike Calhoun Testifies Before Senate Banking Committee
On September 16, CRL President Mike Calhoun delivered testimony before the Senate Banking Committee at a hearing called “Examining the State of Small Depository Institutions.”

No Need for Higher MI Fees with QM
Consumers with lower credit scores often also have low down payments when purchasing a home. As a result, fees for mortgage insurance are added to payments. In these comments, CRL argues for these consumers, citing how higher fees would be another barrier to successful homeownership.

CFPB Proposes New Protections for Prepaid Cards, Addresses Overdraft and Other Credit Features
Last week, the Consumer Financial Protection hosted a field hearing in Wilmington, DE to discuss proposed regulations for prepaid cards – including how overdraft fees and other credit features should be handled on these prepaid products.

Religious Leaders Call On Congress, CFPB to Stop the Payday Loan Debt Trap
Over 75 faith leaders from across the country take their message to Capitol Hill; call for strong rule against predatory lending

CRL, CRC Leaders: Honor Vets by Protecting Them from Payday Lending Scams
As the nation marks Veterans Day tomorrow, leaders from Center for Responsible Lending and the California Reinvestment Coalition are urging California state legislators and the state’s members of Congress to follow the lead of the Department of Defense and honor veterans by passing legislation reining in abusive payday lending.

Civil Rights Leaders Press CFPB to End Racially Discriminatory Auto Lending Practice
In a letter sent today to Consumer Financial Protection Bureau Director Richard Cordray, a group of civil rights and economic justice organizations, including the Center for Responsible Lending, asked the Bureau to use its regulatory authority to curtail discretionary auto dealer interest rate markups.

The Weakened Gainful Employment Rule is a Step Forward, but Fails to Fully Protect Students
Today, the US Department of Education released the final “gainful employment” rule imposing new limits on career education programs with poor outcomes for graduates. The final rule, which only considers the outcomes of the minority of student s who graduate, is significantly weaker than the proposed rule. Nevertheless, it provides some important new protections.

New Mortgage Rule Good News for Home Buyers
On September 22, 2014, financial regulatorsissued final rules to define a Qualified Residential Mortgage (QRM). The new rules are meant to define the risk retention rules for lenders as called for in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

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