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- Reforming the Credit Card Industry
- Consumers should be able to use plastic without getting skewered by unfair bank practices. Although the Federal Reserve passed new regulations to reform the industry, many consumer groups argue the Fed failed to complete the job. Here's a list of additional reforms needed to make credit cards fairer for consumers....
- Articles 2009-04-15
Additional Resources
- Statement From Michael D. Calhoun, President, Center for Responsible Lending, on Interagency Subprime Mortgage Lending
- To: REAL ESTATE EDITORSContact: Ginna Green, +1-510-379-5513, ginna.green@responsiblelending.org, or Carol Hammerstein, +1-919-313- 8518, carol.Hammerstein@responsiblelending.org, both of the Center for Responsible Lending DURHAM, N.C., June 29 /PRNewswire-USNewswire/ -- The following statement was released today by Michael D. Calhoun, President, Center for Responsible Lending: Today federal financial regulators issued a key...
- Research articles 2007-06-29
- Center for Responsible Lending Comments on New Federal Mortgage Data
- To: REAL ESTATE EDITORSContact: Kathleen Day, +1-202-349-1871, kathleen.day@responsiblelending.org, or Carol Hammerstein, +1-919- 313-8518, carol.hammerstein@responsiblelending.org, both of the Center for Responsible Lending WASHINGTON, Sept. 12 /PRNewswire-USNewswire/ -- The following is a statement from Michael D. Calhoun, President, Center for Responsible Lending:Today the Federal Reserve Board issued a bulletin with its preliminary...
- Research articles 2007-09-12
- Center for Responsible Lending President, Michael D. Calhoun, Statement in Reaction to the Democratic Leaders Plan on Foreclosures
- To: REAL ESTATE EDITORSContact: Sharon Reuss, +1-919-313-8527, Sharon.reuss@responsiblelending.org, or Kathleen Day, +1-202-349- 1871, Kathleen.day@responsiblelending.org, both of the Center for Responsible Lending WASHINGTON, Oct. 3 /PRNewswire-USNewswire/ -- The following statement was released today by the Center for Responsible Lending:Were glad leading members of Congress want to provide more legal and counseling...
- Research articles 2007-10-03
- Statement From Michael Calhoun - President, Center for Responsible Lending
- To: REAL ESTATE EDITORS Contact: Kathleen Day, +1-202-349-1871, kathleen.day@responsiblelending.org; Sharon Reuss, +1-919-313-8527, sharon.reuss@responsiblelending.org; or Ginna Green, +1-510-379- 5513, ginna.green@responsiblelending.org, all of Center for Responsible Lending WASHINGTON, March 19 /PRNewswire-USNewswire/ -- The Federal Reserve Board has repeatedly tried since September to contain the foreclosure crisis damage thats spreading rapidly into...
- Research articles 2008-03-19
- Military Lending Act to Take Effect October 1
- To: POLITICAL EDITORSContact: Jean Ann Fox or Travis Plunkett +1-202-387-6121, both of Consumer Federation of America, Lauren Saunders of National Consumer Law Center, +1-202-452-6252, and Kathleen Keest or Carol Hammerstein, +1-919-313-8518, both of the Center for Responsible Lending Federal law will protect troops and their families from some predatory loansWASHINGTON,...
- Research articles 2007-09-27
- CitiFinancial Updates Industry-Leading Lending Practices
- NEW YORK -- In a powerful display of public, private and community cooperation to better serve the nation's borrowers, CitiFinancial today teamed up with Senator Paul Sarbanes, D-MD, Leadership Conference on Civil Rights LCCR, Self Help Credit Union and Center for Responsible Lending CRL, and AARP to highlight the ongoing...
- Research articles 2005-05-19
- Freddie Mac Bans Unaffordable Subprime Home Loans
- WASHINGTON -- In recent years, lenders making higher-risk, higher-cost "subprime" home loans have flooded the market with dangerous hybrid mortgages, often approved without considering whether the borrower could afford the loan. Today Freddie Mac took a major step for responsible lending by announcing it will no longer buy common types...
- Research articles 2007-02-27
- Fed urged to alter subprime practices
- WASHINGTON -- Consumer advocates pressed the Federal Reserve Thursday to ban or dramatically restrict common subprime lending practices, including penalties for early repayment of loans, and mortgages based on stated, not documented, income. "Reckless and virtually unregulated lending" means millions of low-income and minority homeowners are...
- Research articles 2007-06-15
- St. Charles Banking Center for Premier Bank reaches $500M in assets, announces promotion
- Richard K. Hanneken was promoted to president of the St. Charles Banking Center for Premier Bank, and the bank's board of directors announced that the bank has reached $500 million in total assets. Hanneken has more than 22 years of banking experience and has worked for Premier Bank as senior...
- Research articles 2005-03-31
- Federal Reserve Would Allow Reckless Lending to Continue, Says Center for Responsible Lending
- To: NATIONAL EDITORSTo: NATIONAL EDITORS
- Research articles 2007-12-18
- Subprime Mortgages: As the Knot Unravels, A Question Lingers: Why?
- Consumers and companies following their self-interest are supposed to be guiding forces that drive a capitalist economy. The recent meltdown of the subprime-mortgage market, however, raises the question of whether all participants were headed in that direction. And if not, why not? Subprime lending has grown dramatically since the late...
- Research articles 2007-05-01
- Industry Thwarts Action on Bill to Stop Foreclosures and Strengthen Economy
- To: REAL ESTATE EDITORS Contact: Kathleen Day, +1-202-349-1871, or Sharon Reuss, +1-919- 313-8527, both of the Center for Responsible Lending WASHINGTON, Feb. 29 /PRNewswire-USNewswire/ -- Yesterday the mortgage lending industry successfully stopped a Senate bill, The Foreclosure Prevention Act from moving forward. This bill (S. 2636) includes key provisions...
- Research articles 2008-02-29
- Why Credit Card Regulation Is Broken
- Until recently, regulators routinely looked the other way as credit card issuers ensnared unwitting consumers with huge finance charges and penalties. So how did credit card regulation become so broken? Here's a brief history of the slippery practices of the industry. How...
- Articles 2009-04-15
- Groups, Including CUs, Blast Use Of Fee-Based Overdraft Plans
- More than 50 consumer groups have joined together to blast "fee-based overdraft programs" in place at more than 1,000 financial institutions, including credit unions.Calling such programs a "hidden and unfair tax on the most vulnerable depositors," 54 advocacy groups, including the Center for Responsible Lending CRL, National Community Reinvestment Coalition,...
- Research articles 2003-02-03
- The Stunning Subprime Mess
- How bad is the subprime crisis? This from the New York Times, in the wake of the Swiss bank UBS announcing huge write-downs related to subprime mortgages: Banks worldwide have announced more than $135 billion in credit losses and write-downs since the...
- Blog posts 2008-01-30
- Mandatory Arbitration: Why the Card Companies Always Won
- Sorry to rag on credit-card companies again (actually, you know I love it), but news keeps coming out about their odious practices -- or in this case, the odious practices others perform for them. Take mandatory -- sometimes called "forced" -- arbitration. You may not realize it,...
- Blog posts 2009-07-23
- Mortgage-Crisis Relief: Falling Down on the Job
- A scorecard released today on the progress-to-date of two U.S. anti-foreclosure programs begs the question: Is this any way to run a rescue mission? A single figure in the Congressional watchdog panel's report speaks to the glaring failure of federally mandated efforts to stem the continuing foreclosure...
- Blog posts 2009-10-09
- Bank of America's Acquisition of Countrywide: Statement from Martin Eakes CEO of Self Help and the Center for Responsible Lending
- To: POLITICAL EDITORS To: POLITICAL EDITORS
- Research articles 2008-01-11
- Consumer Groups Seek More Disclosure on Banks' Overdraft Fees.
- By Rick Rothacker, The Charlotte Observer, N.C. Knight Ridder/Tribune Business News Jan. 29--More than 50 consumer advocacy groups, including the Durham-based Center for Responsible Lending, have asked the Federal Reserve Board to require more consumer protections against overdraft fees on bank...
- Research articles 2003-01-29
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