Consumers who take out small loans using cash advance apps often pay triple-digit annual interest rates, experience high levels of repeat reborrowing, and incur more bank overdraft fees after starting to use the product. Learn more at responsiblelending.org/EWA

July is #MilitaryConsumerMonth. CRL supports the new VASP program. The recent extension of the VA foreclosure pause will assist veteran borrowers who are facing financial hardships until the program is broadly available later this year. va.gov/housing-assist…

CRL's Shady Side of Solar System Financing Paper Shows Need for Stronger Consumer Protection and Regulatory Enforcement responsiblelending.org/ShadySide “Policymakers must prioritize regulatory and enforcement mechanisms to #ProtectConsumers..." #CleanEnergy #SolarFinancing

The Shady Side of Solar System Financing ResponsibleLending.org/ShadySide CRL has observed 4 categories of harms in solar finance: misleading sales practices, unscrupulous installers, predatory contract clauses, and other harmful practices. #CleanEnergy #SolarFinancing

“The consumerfinance.gov's new rule will help ensure consumers who use #BNPL credit can dispute charges and get their money back promptly just as they are guaranteed by law when they use a credit card,” said Jennifer Chien Consumer Reports Advocacy. #ProtectConsumers #Fintech nclc.org/consumer-advoc…

Using buy-now-pay-later comes with serious risks, and this proposal helps protect people from the hidden financial costs and risks of using #BNPL that can be one-click credit traps. AFR consumerfinance.gov #ProtectConsumers ourfinancialsecurity.org/2024/08/news-r…

CRL Urges CFPB to Strengthen Proposed Rule for ‘Buy Now Pay Later’ Lenders responsiblelending.org/media/crl-urge… “CFPB should adopt an ability to repay standard because there is evidence of borrower overextension and decreased financial health after using BNPL,” stated CRL’s comment letter.

“Consumers use #BNPL in the same places and for the same purposes as traditional #CreditCards, and they deserve similar protections. We applaud the consumerfinance.gov for setting the record straight by closing this loophole.” - Adam Rust

“Policymakers must prioritize regulatory and enforcement mechanisms to protect consumers from abusive solar financing tactics and ensure that all communities can access the benefits of the nation’s historic transition to sustainable #CleanEnergy,” said Anneliese Lederer, CRL.

These solar loans have many of the same features and were obtained using similar tactics to those used by subprime mortgage lenders during the 2000s, Center for Responsible Lending alleged. #housingmarket #servicing By Brad Finkelstein nationalmortgagenews.com/news/solar-fin…

🆕Four Ways Shady Solar Lenders Mirror Practices that Led to the Subprime Mortgage Crisis linkedin.com/pulse/four-way…

#EnergyEfficiency is a 𝐰𝐢𝐧-𝐰𝐢𝐧 for the wallet and the world. It’s past time for FHFA to join Department of Housing and Urban Development in moving to adopt new standards. #ActNowFHFA #ProtectConsumers #FairHousing 👀 lowerhomeenergycosts.org

CRL is working to #ProtectConsumers from predatory practices in solar financing. Now FTC, consumerfinance.gov, Treasury Department have announced an interagency partnership to root out unfair and deceptive practices in the industry. Read our new report and stay informed: responsiblelending.org/ShadySide

“Access to affordable housing options is becoming increasingly difficult,” said Monica Burks, CRL Policy Counsel. “Anti-competitive practices that inflate already high housing costs disadvantage individuals and families working hard to secure this basic need.”

Judge Rules in Favor of Small Business Data Transparency Law "The court correctly held that the consumerfinance.gov was well within its legal authority to issue the small business data rule," said Mitria Wilson-Spotser. Read her full statement: responsiblelending.org/media/judge-ru…

𝐖𝐨𝐫𝐤𝐞𝐫𝐬 𝐬𝐡𝐨𝐮𝐥𝐝𝐧'𝐭 𝐡𝐚𝐯𝐞 𝐭𝐨 𝐩𝐚𝐲 𝐭𝐨 𝐛𝐞 𝐩𝐚𝐢𝐝. 160+ orgs support consumerfinance.gov proposal to #ProtectConsumers who use earned wage advance (EWA), urging clear fee disclosures for these workplace #PaydayLoans. #LaborDay #StopTheDebtTrap responsiblelending.org/research-publi…

“This CFPB proposal affirms what is commonsense: paycheck advance apps are loans that are subject to federal lending laws,” said Nadine Chabrier, CRL senior policy and litigation counsel. #ProtectConsumers #StopTheDebtTrap

160+ Groups Urge Clear Fee Disclosures for Paycheck Advance Apps in Letter to the consumerfinance.gov “This CFPB proposal affirms what is commonsense: paycheck advance apps are loans that are subject to federal lending laws” #StopTheDebtTrap #ProtectConsumers #LaborDay responsiblelending.org/media/160-grou…

The consumerfinance.gov's proposed rule classifies EWA & cash advance products as loans and tips & expedited delivery fees are finance charges that must be disclosed to borrowers. 160+ consumer, labor, civil rights & community orgs can get behind that! #StopTheDebtTrap responsiblelending.org/research-publi…

Disney used its terms of use against a vulnerable consumer and then reversed a bad decision after a public backlash. Congress must ensure our personal freedoms are protected from restrictive fine print. Read our letter. responsiblelending.org/research-publi…