Senior Policy Counsel

Auto Loan Delinquencies Climbed to $9 billion in 2018

Charlene Crowell, NNPA Newswire ContributorFebruary 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.

Op-Ed Opinion

Abusive Debt Collectors Target Black Consumers

Charlene Crowell, Contributing WriterDecember 18, 2015

An old adage teaches that one man’s pain is another’s gain. That adage is a truism when it comes to the debt collection industry.
According to the Federal Trade Commission (FTC), debt buyers pay just 3.1 percent on the dollar for defaulted debts. Additionally, 94 percent of these debts are sold with without documentation.
So why would a business bother with buying old and potentially inaccurate credit claims? The answer is money and lots of it.