Thursday, March 21, 2019
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Charlene Crowell
Education Department Helps Loan Servicers Instead of Borrowers
February 28, 2019
In an increasingly competitive global economy, highly skilled workers have a sharp advantage in securing and keeping employment. And as technological advances result in life-long learning in many occupations, many worker-students turn to federal student aid, the largest source of funding for higher education, to expand and/or hone their value in the marketplace. ... read more »
Auto Loan Delinquencies Climbed to $9 billion in 2018
February 21, 2019
…in April of last year, Congress used the Congressional Review Act to nullify the Consumer Financial Protection Bureau’s (CFPB) auto finance guidance that held auto lenders responsible for discriminatory lending practices prohibited under the Equal Credit Protection Act. This distorted use of the Congressional Review Act, sometimes known as another CRA, was never intended to overturn long-standing agency practices. ... read more »
CFPB Makes Move to Support Payday Lenders During Black History Month
February 15, 2019
When given the chance at the ballot box, Americans overwhelmingly vote to impose a 36 percent or less rate cap. Today, 16 states and the District of Columbia have these rate caps in place, providing strong protection from payday loan sharks. In remaining states – those without a rate cap – interest rates run as high as 460 percent in California, over 400 percent in Illinois and 662 percent in Texas. ... read more »
Don’t Let Predatory Tax Loans Take Your Refunds
January 24, 2019
“…across the country, advertising – particularly on urban radio – tempts listeners with easy ways to get a loan against anticipated tax refunds. But just like other predatory lending products, what is advertised is not quite what consumers receive. ... read more »
Unexpected For-Profit College Closures Come Before Christmas
December 27, 2018
“…this year, just a week before Christmas, there are people who were dealing with the aftermath of something far colder than the weather: college closures with no advance notice and a promise of more information at a date yet to be determined.” ... read more »
Will a New Consumer Bureau Director Heed the Agency’s Mission?
December 20, 2018
In her first news conference as a Senate-confirmed Director of the Consumer Financial Protection Bureau (CFPB), Kathleen Kraninger’s remarks sounded a lot like Mick Mulvaney, her former boss at the Office of Budget and Management (OMB). ... read more »
Wendy’s Window-‘This Christmas’
December 20, 2018
I have a dear lifelong friend by the name of JC, who I recently reconnected with and during one of our conversations we were talking about how different religions are bold in sharing their faith, while others may be a little more reserved.  Recently, on a day when he happened to be home, some Jehovah’s Witnesses stopped by and knocked on his door. ... read more »
Don’t Let Small Dollar Loans Ruin Your Holidays
December 13, 2018
In this wonderful time of the year when family and friends gather in good cheer to celebrate the holidays, nearly everyone has a number of lists. From greeting cards to shopping for gifts, decorations and more, lists are made and reviewed to keep pace with the barrage of seasonal activities.  ... read more »
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 »
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