Tag: Center for Responsible Lending

Don’t let small dollar loans ruin your holidays

Don’t let small dollar loans ruin your holidays

| December 9, 2015

By Charlene Crowell NNPA News Wire Columnist 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 […]

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Ohioans lose more than $500 Million to payday, car title loan fees

Ohioans lose more than $500 Million to payday, car title loan fees

| November 24, 2015

By Charlene Crowell NNPA Columnist Despite a landslide voter decision in 2008 to cap payday lending rates at 28 percent, the state’s small-dollar, high-cost lending has continued to grow and now doubles the amount of fees charged a decade ago. Each year Ohio consumers who only needed a small dollar loan wind up with more […]

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New forms of predatory lending threaten consumers

New forms of predatory lending threaten consumers

| October 20, 2015

By Charlene Crowell NNPA Columnist Over the past decade, no state has authorized either predatory payday or car title loans. That consumer financial progress came about through a combination of state and local advocates working with state lawmakers to bring a sense of financial fairness to their local communities. But just like a bad penny […]

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Congress urges stronger action against payday loan vendors

Congress urges stronger action against payday loan vendors

| July 27, 2015

Charlene Crowell By Charlene Crowell NNPA Columnist The Federal Trade Commission (FTC) will provide $32 million in relief to consumers who were caught in a maze of charges and fees designed to trap them in payday loans they never authorized. The enforcement action announced July 7, affects two lenders based in Kansas City, Mo., who […]

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‘Credit invisible’ blacks, Latinos

‘Credit invisible’ blacks, Latinos

| June 1, 2015

By Charlene Crowell NNPA Columnist When it comes to consumer finance, traditional lenders usually review credit scores before reaching a decision. In general, the higher a consumer’s credit score is, the lower the cost of credit they will pay. Conversely, the lower one’s credit score, the higher the cost of credit and interest will likely […]

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Don’t let tempting predatory loans spoil holidays

Don’t let tempting predatory loans spoil holidays

| December 19, 2014

By Charlene Crowell NNPA Columnist From Christmas carols to decorations that celebrate the season, the holidays mark the time of year when families and loved ones anticipate joyous celebrations and gift-giving. It’s a season when excesses can easily go beyond overeating to over-spending, bringing debts that can last well into the New Year. The holidays […]

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Black auto buyers get raw deal, not fair deal

Black auto buyers get raw deal, not fair deal

| September 29, 2014

By Charlene Crowell NNPA Columnist With new car prices meeting or surpassing many consumers’ incomes, the vast majority of people finance their car purchases. On an annual basis, according to the Center for Responsible Lending, more than 79 percent of auto loans occur through third-party indirect lenders that partner with dealerships. After most automobile purchases, […]

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