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Testimony at the CFPB’s Hearing on Payday Lending (Nashville, TN)
Oneshia Herring, legislative counsel at CRL, discusses three reasons why payday loans are an inherently defective product that violate any reasonable concept of fair and responsible lending. This testimony was presented at a CFPB field hearing on March 25, 2014, in Nashville, Tennessee.

Department of Education Rulemaking to Define ‘Gainful Employment’
The US Department of Education has re-started a negotiated rulemaking process regarding eligibility of career education programs for federal financial aid. This is CRL's memo on areas for improvement in the draft regulation

Comment Letter to Senate Banking Committee on Housing Finance Reform Bill
A 13-member coalition of civil rights, housing and legal advocates called upon the U.S. Senate Banking Committee to preserve equal access to mortgage credit for all qualified borrowers.

Negotiating on Car Loans Doesn’t Help African Americans and Latinos
Trying to negotiate a better interest rate on your car loan should generally result in a better deal, right? Not so for buyers of color who get loans from dealers.

Comment on Proposed Regulations for For-Profit and Occupational Schools
CRL recently expressed support for the Massachusetts’ Attorney General proposed regulations for occupational and for-profit schools.

New Reforms Promote Stability in the Mortgage Market, Protect Access to Credit
CRL President Mike Calhoun testified before the House Financial Services Committee that CFPB’s rules strike the right balance of providing borrower protections while also ensuring access to credit.

2014 Brings New Rules to Mortgage Lending
In 2014, new mortgage lending reforms go into effect. Finalized by the Consumer Financial Protection Bureau, the reforms respond to the abusive lending practices that triggered the nation’s financial crisis. The new rules also protect and preserve access to credit.

Comment on Forced Arbitration Agreements in College Federal Aid Applications
In reply to the Department of Education’s request for comments on forced arbitration clauses in student federal loans, CRL called for transparency and clear disclosure. Further, CRL urged that these twin values should protect the integrity of federal student aid.

A Roll of the Dice: Debt Settlement Still a Risky Strategy for Debt-Burdened Households
Debt settlement programs too often are not the solution they are marketed to be, according to this new CRL research.

Debt Settlement Firms Adopt "Attorney Model" to Evade State and Federal Rules
This paper discusses debt settlement firms’ increased use of affiliations with legal firms to circumvent state and federal restrictions on upfront fees and other unfair and deceptive practices.

CFPB Research Affirms Payday Debt Trap
New research released today by the Consumer Financial Protection Bureau (CFPB) on payday lending affirms what CRL has long found about the inherent defects of payday lending and shows that payday loans create a debt trap that makes borrowers worse off.

Johnson-Crapo Does Not Provide Credit Access for Communities of Color
The new Senate proposal to reform the housing finance system would needlessly make mortgages more expensive and less available, announced civil rights groups today.

Gainful Employment Rule Gains Little for Students
The Department of Education’s proposed “gainful employment” rule is a step forward but falls short of protecting consumers from unaffordable debt created by predatory educational programs at for-profit colleges, according to the Center for Responsible Lending.

Fannie Mae, Freddie Mac Reform Must Serve the Whole Market
Senate Banking Committee Chairman Tim Johnson and Ranking Member Senator Mike Crapo announced yesterday a bipartisan agreement on a plan to reform the housing finance system.

Center for Responsible Lending Applauds Bank of America for Action on Overdraft Fees
The Center for Responsible Lending (CRL) applauds Bank of America for taking another important step that prevents costly overdraft fees for consumers.

Center for Responsible Lending Applauds CFPB Action Against ITT Tech
Experts at the Center for Responsible Lending applauded the CFPB for their aggressive action on the for-profit university ITT Tech.

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