Tag: Center for Responsible Lending

Blacks often pay higher fees for car purchases than whites

Blacks often pay higher fees for car purchases than whites

| November 3, 2017

Buying car with add-on products, services seldom good deal for consumers By Charlene Crowell (Deputy Communications Director, Center for Responsible Lending) It’s that time of year again when auto dealers try to make room in their showrooms for next year’s models. The seasonal clearance sales that come right before the holidays are just as tempting […]

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The value of white privilege and the American Dream

The value of white privilege and the American Dream

| February 22, 2017

Racial wealth gap could close with systemic public policy reforms, says new research By Charlene Crowell (NNPA Newswire Columnist) As 2017’s Black History observances unfold in communities across the country, new research on racial wealth gaps refutes the age-old advice for people of color to pull themselves up by their proverbial bootstraps. According to researchers […]

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As for-profit college enrollment climbs, blacks graduate with more debt

As for-profit college enrollment climbs, blacks graduate with more debt

| February 6, 2017

Borrowers face more $125 million in unnecessary interest charges By Charlene Crowell (NNPA Newswire Columnist) With 44 million consumers owing about $1.4 trillion in student loans, a new report by the Consumer Financial Protection Bureau finds that student loan servicing and debt collection together will boost borrower costs even higher over the next two years. […]

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New York AG, CFPB join forces to fight illegal national debt collection scheme

New York AG, CFPB join forces to fight illegal national debt collection scheme

| December 10, 2016

By Charlene Crowell (NNPA Newswire Columnist) A new federal lawsuit alleges that since at least 2009, two major players in the debt collection industry have illegally operated, harassed, threatened and deceived millions of consumers across the country—often for debts that were either inflated or not even owed. The scheme based in Buffalo, New York, also […]

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Dream deferred: Despite incomes, black families still denied access to home loans

Dream deferred: Despite incomes, black families still denied access to home loans

| November 22, 2016

By Charlene Crowell (NNPA Newswire Columnist) In recent weeks, a spate of news coverage has referred to America’s “inner cities.” Some may even interpret it as a new code word for minorities, usually referring to African Americans and Latinos. Yet today, according to Richard Rothstein, a research associate with the Economic Policy Institute, the inner […]

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CFPB sues, fines TMX Finance $9 million over misleading loans

CFPB sues, fines TMX Finance $9 million over misleading loans

| October 14, 2016

By Charlene Crowell (NNPA Newswire Columnist) Many consumers breathe a sigh of relief when their car loans are finally paid off. Gaining title to personal vehicles should free up monthly monies—unless that title is later used as collateral for a high-cost and abusive loan. Car-title loans provide a percentage of a vehicle’s total value in […]

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Report: Blacks, Latinos still face housing discrimination in California

Report: Blacks, Latinos still face housing discrimination in California

| September 8, 2016

By Charlene Crowell (NNPA News Wire Columnist) Although many American families have modest financial means, there is nothing small about their hopes. Owning a home has long been an important part of the American Dream. Just as a college education can open doors to America’s middle class, a home is more than just where families […]

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Payday lending abomination in plain sight, says Baptist leader

Payday lending abomination in plain sight, says Baptist leader

| April 12, 2016

By Charlene Crowell (NNPA News Wire Columnist) Every once in awhile, a congressional committee hearing can almost seem like a time to grab your popcorn and a seat to hear the exchanges and varying opinions. On April 5, a U.S. Senate Banking, Housing and Urban Affairs Committee hearing on consumer finance regulations became one such […]

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Veterans, consumers of color often targeted for fraud

Veterans, consumers of color often targeted for fraud

| April 5, 2016

By Charlene Crowell NNPA News Wire Columnist Although the former Corinthian Colleges, once one of the nation’s largest for-profit colleges, closed its doors last year, many of the problems incurred by its former students persist. The now-defunct college is the only questionable actor among for-profit colleges. To date, investigations, and lawsuits have focused on a […]

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Auto dealers charge African Americans, Hispanics higher interest rates on loans

Auto dealers charge African Americans, Hispanics higher interest rates on loans

| March 14, 2016

By Charlene Crowell NNPA News Wire Columnist In recent months, this column has reported on a series of settlements reached between banks and finance companies with the Consumer Financial Protection Bureau and the Department of Justice. All of the actions were taken to resolve claims of discrimination in auto lending. To date, more than $200 […]

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