Mike Calhoun
@CRLMike
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President of @CRLOnline. Working to create opportunity for everyone by eliminating abusive financial practices. #StopTheDebtTrap
Washington, DC
Joined May 2014
As National Homeownership Month, June is a time to celebrate the American Dream of safe, stable housing and reflect on how we can expand access to that dream. Read the latest blog post from @CRLMike Calhoun on the importance of equitable homeownership
linkedin.com
By Mike Calhoun, President of the Center for Responsible Lending As National Homeownership Month, June is a time to celebrate the American Dream of safe, stable housing and reflect on how we can...
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Why the Senate should protect funding for the CFPB - OpEd by @CRLMike Calhoun #DefendCFPB
nationalmortgagenews.com
A new proposal from the Senate Banking Committee for the massive budget bill to eliminate this source of funding for the Consumer Bureau is dangerous, writes the president of the Center for Respons...
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The Consumer Bureau prevents banks, credit card and other companies from illegally taking money out of your pocket. Rather than hobble this watchdog agency, President Trump should let it do this vital job. @SunSentinel #DefendCFPB
sun-sentinel.com
The president of the nonprofit Center for Responsible Lending writes that the gutting of the Consumer Financial Protection Bureau is a boon to scam artists, shady lenders and financial crooks acros…
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Consumer Bureau rules to lower the cost of overdraft fees, lessen the burden of medical debt, and track gaps in small business lending are popular and Congress should let these rules stand. #DefendCFPB #FinancialFairness
New Poll Shows Two-thirds of Americans support CFPB “The Administration’s shutdown of the Consumer Bureau is wildly out of step with Americans, across the political spectrum, who want this consumer watchdog agency doing its job,” said @CRLMike. #DefendCFPB
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Trump officials should maintain steps to reduce foreclosures @CRLMike @NatMortgageNews
nationalmortgagenews.com
Abandoning recent improvements in federal mortgage loss-mitigation programs would be a mistake, writes the president of the Center for Responsible Lending.
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Reduced @FHAgov mortgage insurance premiums have helped make homeownership a reality for more buyers, including Black and Hispanic purchasers who often are not served well by the private mortgage market. https://t.co/XgP2p6UgQf
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CRL, @RealBankReform, and @NCRC Blast Senate Democrats For Betraying Small Business Owners With Vote To Rescind Section 1071
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Alluring Cash-out Refinance Offers Can Be Financial Trap for Homeowners: New research from @AEI and CRL raises concerns that government guarantee policies are promoting the use of “the house as an ATM” by lower-wealth, cash-constrained buyers. https://t.co/U7dzHPBqVM
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Why should the nearly 6 million unbanked households #GetBanked? @CRLMike of @crlonline believes opening a bank account can put you on the road to financial security. https://t.co/gXGbLlQVXa
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Unless Congress is nostalgic for rampant predatory lending, it should not defang this consumer watchdog.
Congress should not undermine funding for the @CFPB, the only government agency dedicated to defending consumers from financial malfeasance. -@CRLMike in @theobserver, @newsobserver & @TheHerald_Sun
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It is thanks to you that we have so much to celebrate as 2022 draws to a close. When we stand together, we can make a real difference for those who have been disenfranchised by our financial systems. Thank you for standing with us.
This #GivingTuesday, consider supporting CRL as we fight for economic justice for those historically excluded and underserved. Give now at https://t.co/9GZUzekhZM.
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Unaffordable student debt is one of the major obstacles to Black families obtaining homeownership. A recent survey that found 9% of student loan borrowers put savings from the pause toward buying a home. https://t.co/0TtKxFoCdN
Black and Latino homeownership rates increased during the pandemic @EmilyRPeck @Axios
https://t.co/dxUvotd9MR "The increase was larger for Black and Latino buyers because their homeownership rates were so much lower to begin with, said @CRLMike Calhoun."
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On reforming overdraft fee practices, @BankofAmerica is miles ahead of what Wells and Chase have done. Both of them did some reforms, we certainly applaud those changes, but they are still charging the $35 fee. 📝: @kensweet @AP
apnews.com
Bank of America says the revenue it gets from overdrafts has dropped 90% from a year ago, after the bank reduced overdraft fees to $10 from $35 and eliminated fees for bounced checks.
NEWS -- Bank of America's revenue from overdraft are down 90% from a year ago after it cut its fee to $10 from $35 and eliminated fees for bounced checks, the bank's CEO Brian Moynihan said in an exclusive interview with AP on Wednesday. More to come:
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We need our government to stop financial institutions from fleecing consumers with overdraft fees. #FinancialFairness My op-ed in @AmerBanker @BankThink:
americanbanker.com
Fees on overdrawn accounts have become so important to some banks' bottom lines that the industry can't be trusted to police itself.
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Looking forward to the opportunity to testify on the state of homeownership and the US housing market. We'll be getting started soon.
Today @ NOON: Watch the @FSCDems hearing "Boom and Bust: Inequality, Homeownership, and the Long-Term Impacts of the Hot Housing Market" w/ testimony from @CRLMike Calhoun, @SamChandan, @Jungs_Home, Lydia Pope, @REALTIST_NAREB @NorbertJMichel
https://t.co/khztI0VXqV
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ICYMI: “It is particularly hard for people who are buying smaller houses with smaller mortgages to find a lender and to get that mortgage,” said @CRLMike Calhoun, president of the Center for Responsible Lending. “And they also surprisingly are more expensive.”
More than a quarter of home sales nationwide are for homes priced below $100,000. Yet, just 23.2% of those are purchased using a mortgage.
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Sandra Thompson is committed to seeing that Fannie Mae, Freddie Mac and the Federal Home Loan Banks act to reduce the racial wealth gaps. We look forward to working with Ms. Thompson to ensure affordable housing opportunities for all Americans.
CRL Applauds Confirmation of Sandra Thompson to Full Term as Director of @FHFA
https://t.co/OSVFAQMunK
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American families need protections from abusive financial practices, and Director @ChopraCFPB’s commonsense requests for information on bank mergers and on junk fees, such as overdraft fees, are appropriate steps to gather the data.
At congressional hearings today and tomorrow, Consumer Financial Protection Bureau Director Rohit Chopra will get potshots for… his actions to protect consumers. He deserves praise instead.
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Michael Barr has a record of standing up for regulations – like the Community Reinvestment Act and overdraft protections – that promote #FinancialFairness for all Americans. We urge swift confirmation of this well-qualified nominee.
The Biden Administration announced today that it will nominate Michael Barr as Vice Chair for Supervision at the @FederalReserve. https://t.co/qkwkcUUmZG
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