Wednesday, November 21, 2018
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Charlene Crowell
Debt and Rising Home Costs Continue to Defer Homeownership
November 8, 2018
A decade has passed since the housing collapse.  In that time, bank profits are back and continue to rise. Despite occasional trading fluctuations, the stock market remains profitable for most investors. Then there’s the low rate of unemployment that is often cited as if economic strides have included nearly everyone. ... read more »
CRL Calls for Firing of CFPB Fair Lending Official Who Used N-Word
October 11, 2018
Recent and stunning disclosures of racially-offensive writings by a high-ranking official at the Consumer Financial Protection Bureau (CFPB) has unleashed an escalating barrage of criticisms, including calls for the official to be fired and more probing questions regarding the agency’s commitment to fair lending. ... read more »
Homeowner Bill of Rights: Protecting Families from Life’s Financial Storms
October 4, 2018
In recent weeks, multiple news sources have reported on the 10-year anniversary since the onset of the nation’s foreclosure crisis. Between 2007 and 2011, 10.9 million homes went into foreclosure, with 8 million completing that process. Additionally, $1.95 trillion in lost property value affected both families who lost their homes to foreclosure, as well as their nearby neighbors who remained in their homes. ... read more »
For-Profit College Students Share Sagas of Debt and Disillusionment
September 27, 2018
College students today come in many ages and from many backgrounds. In addition to recent high school graduates, there are laid off workers who need updated skills, and single heads of household returning to school to better provide for their families. Veterans seeking to transition to civilian life are also seeking higher education as a way out and up the financial ladder.  ... read more »
Black Wealth Still Plummeting, CRL Tells Lawmakers
August 31, 2018
For years, and particularly in recent months, major news outlets have heralded the nation’s robust economic recovery. From rising corporate profits, to lower unemployment, or rising stock prices on Wall Street, many consumers might conclude that financial stability not only returned after the Great Recession but continues to climb. ... read more »
Betsy Devos’ $5 Billion Giveaway to For-Profit Colleges: Deregulation of Student Loans
August 23, 2018
Today’s increasingly competitive global economy requires and recruits those who are highly-skilled and knowledgeable. People understand and accept that higher education is a means to become employable, marketable, and competitive. ... read more »
New National Poll Finds Consumers Still Want Financial Regulation
August 9, 2018
The 2018 poll, conducted by Lake Research Partners and Chesapeake Beach Consulting, found that among respondents more than 90 percent viewed regulation of financial services to be very important, and registered support across partisan affiliations. Among Republicans, 85 percent supported regulation, compared to 92 percent of independents and 96 percent of Democrats. ... read more »
New legislation seeks debt-free college degrees and real career opportunities 
August 2, 2018
If 17 Members of the U.S. House Committee on Education and the Workforce can convince their fellow lawmakers of a comprehensive approach to higher education, every student across the country could gain the chance to earn a debt-free degree and a rewarding career.    ... read more »
State AGs to DeVos: Work with, Not Against, State Law Enforcement
July 26, 2018
Starting last summer, student loan servicers like Navient have been lobbying DeVos to shield them from liability for their practices. And it’s worked. Despite objections from a bi-partisan group of Attorneys General (AGs), the National Association of Governors, and the Conference of State Bank Supervisors, DeVos and the Department of Education have increasingly made it more difficult for state and federal law enforcement agencies to do their jobs by retracting information sharing agreements with the Consumer Financial Protection Bureau (CFPB) and instructing servicers not share student loan information with state law enforcement and banking supervisors. ... read more »
Mick Mulvaney Turns Away from Consumers to Help Payday Lenders
July 19, 2018
The unfortunate result for citizens is that we’re just not getting any value from this key office these days. The Dodd-Frank Consumer Protection and Wall Street Reform Act is clear as to the responsibilities given to CFPB. Under the previous director, billions of dollars were returned to consumers for a host of illegal and deceptive acts by predatory financial institutions. These achievements were accomplished with the support of a dedicated staff. ... read more »
Racial Divides Found in Student Loan Defaults
July 5, 2018
Besides deep debt incurred to gain a college education, another sphere of concern presents yet another financial hurdle: student loan defaults. ... read more »
Federal Regulator Ready to Reform CRA But Won’t Say If Discrimination Exists
June 28, 2018
According to the report, Black consumers are the only racial/ethnic group that has made no appreciable progress in homeownership over the past 30 years. ... read more »
Cities and States Support Preserving Fair Housing Rule
June 14, 2018
The attorney general for the nation’s most populous state, California, linked fair housing with opportunity in other dimensions of life ... read more »
Federal Lawsuit Challenges HUD to Enforce Fair Housing Rule Civil Rights and Housing Advocates Join Forces
May 25, 2018
Across the country, an estimated $5.5 billion in HUD funding is awarded each year. Nearly two-thirds of these funds go to approximately 1,210 grantees through HUD’s Community Development Block (CDBG) Grant program.  With this year’s rule suspension and continuing for several years, grant recipients – largely state and local government jurisdictions -- can obligate their allocations without any concern for compliance with the Fair Housing Act rule.    ... read more »
Racial Mortgage Disparities Persist as Federal Housing Enforcement Lags
May 9, 2018
Today, with much of the mortgage market recovered, unnecessarily tight and expensive credit in the conventional mortgage market often makes FHA the only option to finance homeownership for low- to moderate-income borrowers, lower-wealth borrowers, and borrowers of color. This single-option also means that borrowers broadly denied the lower-cost, most-affordable private loans available, have a slower rate of home appreciation due to fees and insurance that accompany government-backed loans.  ... read more »
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