HOME MEDIA STAY CONNECTED DONATE ABOUT US ISSUES RESEARCH & POLICY STATES HomeMedia MEDIA Press Releases CRL in the News CRL in the News Issue OCTOBER 28, 2021 | BY HAYLEY ZHAO | DIVERSE ISSUES IN HIGHER EDUCATION Panel Discusses Student Debt Crisis at HBCUs “Not only do they have less wealth to borrow on to pay back loans because of the racial wealth gap, but the underfunding of HBCUs compound the financial challenges which result in higher debt for students who attend these schools,” said Rep. Alma Adams, who appeared on a panel hosted by the Center for Responsible Lending(CRL) on Thursday. OCTOBER 25, 2021 | BY CLAYTON HENKEL | NC POLICY WATCH Consumer advocate Rochelle Sparko of the Center for Responsible Lending on the state of the national student loan debt crisis and some relief that the Biden administration has made available Listen to a discussion of the state of the national student loan debt crisis and some relief that the Biden administration has made available. OCTOBER 25, 2021 | BY TATIANA WALK-MORRIS | VOX Why do banks charge a fee for not having enough money? It’s hard to pinpoint when banks began charging overdraft fees in the US. Vox reached out to JPMorgan Chase, Wells Fargo, and Bank of America to ask when they started charging account maintenance and overdraft fees, but none of them shared when they implemented these charges. According to a 2020 report from the Center for Responsible Lending, banks historically declined debit card charges when account holders lacked the funds to cover charges. OCTOBER 23, 2021 | BY JILLIAN BERMAN | MARKET WATCH Are early wage access products a worker-friendly innovation — or loans that need regulation? Now, a group of consumer advocates is asking the Biden-era CFPB to reverse that decision. Earlier this month, a coalition led by the National Consumer Law Center and the Center for Responsible Lending, wrote to the agency urging officials to regulate earned wage access products as credit. OCTOBER 23, 2021 | BY JILLIAN BERMAN | MARKET WATCH Are early wage access products a worker-friendly innovation — or loans that need regulation? “All of those risks are the very same risks we talk about when we talk about payday lending,” Borné said. When a borrower uses a payday loan, they also give the lender access to their checking account either by writing a check dated to the borrower’s payday or by giving the lender electronic authorization to debit the account on pay day. OCTOBER 13, 2021 | BY ABIGAIL JOHNSON HESS | CNBC Education Secretary Cardona: ‘We’re going to continue conversations around loan forgiveness’ “President Biden absolutely has the authority to cancel student debt,” said Ashley Harrington, federal advocacy director and senior counsel at the Center for Responsible Lending. “This is the same authority that was used by the Trump administration last year to waive interest and pause payments or for federal borrowers who had federally held loans. That same authority was used later that year to extend that pause.” OCTOBER 8, 2021 How a State Bank Could Challenge Payday Lenders In 2012, the Stanford Social Innovation Review reported that 60 percent of low-income neighborhoods in California didn’t have a bank in their vicinity. Astoundingly, according to data generated by the Center for Responsible Lending after the 2008 financial crisis, low-income families sometimes paid as much as $2,000 a year for check-cashing services, and Californians have been spending close to half a billion dollars per year paying the fees on payday loans. Since then, data suggests that the payday lending and check-cashing industries have only grown. OCTOBER 7, 2021 | BY CHARLENE CROWELL | THE WASHINGTON INFORMER New CFPB Director Rohit Chopra Pledges to Protect Americans from Financial Fraud “Extensive research has established that Black borrowers and other borrowers of color tend to have more difficulty in student loan repayment than their white peers because of past and ongoing racial discrimination,” Julia Barnard, a senior researcher at the Center for Responsible Lending, wrote in a policy brief published this summer. “They are also among the communities hit hardest by the current pandemic and its effects.” SEPTEMBER 30, 2021 | BY SYLVAN LANE | THE HILL Senate confirms Chopra to lead Consumer Financial Protection Bureau “Rohit Chopra is the consumer watchdog our country needs. He is up to the challenge of protecting people’s wallets from predatory practices, ranging from lending discrimination to COVID relief scams to abusive debt collection practices,” said Graciela Aponte-Diaz, acting federal advocacy director for the Center For Responsible Lending, a pro-regulation non-profit. SEPTEMBER 7, 2021 Desalojos: ¿cómo solicitar ayuda para pagar su hipoteca o alquiler atrasado? Más de 6 millones de familias permanecen en riesgo de perder sus hogares por incumplir los pagos de su hipoteca o alquiler, y aunque la gran parte de los afectados aseguran que han tratado de solicitar ayuda, no la consiguen por lo complicado del proceso, por lo que la Secretaria de Vivienda y Desarrollo Humano, Marcia Fudge, señaló que se está trabajando para simplificar el trámite y evitar que las personas sean desalojadas. Pages 1 2 3 4 5 6 7 8 9 … NEXT › © 2021 Center for Responsible Lending. All rights reserved. Center for Responsible Lending 302 West Main Street, Durham, NC 27701 (919) 313-8500 District of Columbia Office 910 17th Street NW, Suite 800, Washington, DC 20006 (202) 349-1850 California Office 1970 Broadway Suite 350, Oakland, CA 94612 (510) 379-5500 Twitter Facebook LinkedIn YouTube ABOUT US ISSUES RESEARCH & POLICY STATES MEDIA STAY CONNECTED HOME DONATE Join our mailing list Sign up for updates on the fight against predatory lending. Enter your email address Building on Nearly 40 Years of Lending Experience CRL's work grows directly from our affiliation with Self-Help, our founder and one of the nation's largest nonprofit community development lenders. For nearly 40 years, Self-Help has worked to create ownership and economic opportunity in underserved communities through responsible loans and financial services.