Charlene Crowell NNPA Newswire Columnist, Author at BlackPressUSA

Black Student Loan Default Rate Five Times Higher than Whites

NNPA NEWSWIRE — Citing new research from Protect Borrowers, formerly the Student Borrower Protection Center, the coalition advised Education Secretary Linda McMahon in a January 7 letter that a new...

Black Press2 years ago

Student Loan Debt Drops $10 Billion Due to Biden Administration Forgiveness

NNPA NEWSWIRE — The Center for American Progress estimates the interest waiver provisions would deliver relief to roughly 6 million Black borrowers, or 23 percent of...

Black Press2 years ago

DOJ and State Attorneys General File Joint Consumer Lawsuit

NNPA NEWSWIRE — “Healthy competition in the rental housing market requires two key ingredients,” added Deputy Attorney General Lisa Monaco. “The market must be dictated by open...

By mid-November, the nation will again face a shutdown at a time when families typically and excitedly finalize preparations for annual Thanksgiving gatherings. (Photo: iStock photo / NNPA)

BlackPressUSA3 years ago

Understanding the Nation’s Ticking Fiscal Time Clock

NNPA NEWSWIRE — NNPA NEWSWIRE — “The vast majority of Americans want to avoid a shutdown. The faction who does not want any compromise may represent...

Predictably, long-time education and civil rights advocates spoke to the need for additional reforms, while others wondered about cancellation’s impact on an already troubled economy.

BlackPressUSA4 years ago

Biden Student Debt Forgiveness Plan Begins, Not Ends

NNPA NEWSWIRE — The good news is that of the 43 million people affected by the executive action, 20 million borrowers will have all of their debt...

As long as mortgage application denial rates disproportionately impact Blacks, Black homeownership will continue to lag behind the rest of the nation. (Photo: iStockphoto / NNPA)

BlackPressUSA5 years ago

Black America deserves its fair share of the American Dream:

NNPA NEWSWIRE — Despite unprecedented federal housing assistance during the pandemic, a report by Harvard’s Joint Center for Housing Studies (JCHS) finds stark racial and income divides in...

“By reforming their exemption laws, states will not only protect families from destitution but will promote economic recovery by enabling families to spend their money in state and local communities,” said Carolyn Carter, NCLC deputy director and author of the report. (Photo: iStockphoto / NNPA)

BlackPressUSA6 years ago

COVID-19 Worsens Debt Collector Harassment

NNPA NEWSWIRE — Recalling its earlier research on the family wealth lost as a result of the Great Recession, the Center for Responsible Lending (CRL), holds...

Asserting that multiple initiatives will be required to reverse these and other long-standing trends, Citi’s report authors call on government at all levels to share a part in progressive change. (Photo: iStockphoto / NNPA)

Black History6 years ago

Wealth gap costs over last two decades: $2.7 trillion in Black income, $16 trillion to U.S. economy

NNPA NEWSWIRE — “Yet even today, with all those credentials and as one of the leading executives on Wall Street,” wrote Raymond J. McGuire, Citi’s Vice...

The creation of an independent consumer agency was the legislative intent defined in the Dodd-Frank Wall Street Reform Act. (Photo: iStockphoto / NNPA)

BlackPressUSA6 years ago

Supreme Court Decision Jeopardizes CFPB’s Future and its Independence

By Charlene Crowell, NNPA Newswire Contributor A June 29 U.S. Supreme Court split decision represents a major setback to both the Consumer Financial Protection Bureau (CFPB)...

The redlining of Black communities, racial covenants, real estate steering and restrictive zoning laws that together perpetuated segregated housing were never acknowledged. (Photo: iStockphoto / NNPA)

Black History6 years ago

Black Households Earned 61 Cents for Every Dollar of White Median Incomes

NNPA NEWSWIRE — “Racial residential segregation is a significant predictor of the magnitude of the Black-White disparity in fatal police shootings at the city level. Efforts...

With nearly half of American adults living in households that have experienced a loss of income, and more than 40% of adults delaying medical care due to financial concerns, there is no justification for abandoning consumer financial protections.

BlackPressUSA6 years ago

Consumer Financial Protection Bureau Gives a Green Light to Predatory Payday Lenders

NNPA NEWSWIRE — “There is never a good time to enable predatory loans carrying 400% interest rates,” noted Mike Calhoun, President of the Center for Responsible...

Charlene Crowell is the Communications Deputy Director with the Center for Responsible Lending. She can be reached at Charlene.crowell@responsiblelending.org.

Black History6 years ago

$349 billion COVID-19 Small Business Program short-changes businesses of color

NNPA NEWSWIRE — The Center for Responsible Lending (CRL) estimated that as many as 95% Black-owned businesses stood no chance of securing a program loan. Other...

Charlene Crowell is a senior fellow with the Center for Responsible Lending. She can be reached at charlene.crowell@responsiblelending.org. (Photo: iStockphoto / NNPA)

Black History6 years ago

COVID-19 financial warning: Consumers and banks should stay away from payday loans

NNPA NEWSWIRE — Zeroing in on the economic impacts of the crisis, people everywhere are struggling with competing needs in their lives. When living costs exceed...

“The maximum Pell grant – the federal college scholarship that helps low-income students pay tuition and living expenses – today covers only 28% of college costs, the lowest share in over 40 years,” says James Kvaal and Jessica Thompson, co-authors of a new policy brief by the University of New Hampshire’s Carsey School of Public Policy. (Photo: iStockphoto / NNPA)

Black History7 years ago

COMMENTARY: FY 2021 White House Budget Proposal Cuts $56.6 Billion from Education

NNPA NEWSWIRE — Today there are over 44 million student loan borrowers whose growing reliance on loans corresponds with the still-rising cost of higher education. Except...

When four of every 10 homeless people are Black, 225,735 consumers are impacted. Further, and again according to HUD, 56,381 Blacks (27%) are living on the nation’s streets, instead of in homeless shelters.

Black History7 years ago

Black America’s Housing Crisis: More Renters Than Homeowners

NNPA NEWSWIRE — From Boston west to Seattle, and from Chicago to Miami and parts in between, the rising cost of living is particularly challenging in...

Business7 years ago

Housing Discrimination Complaints Reach 24-Year High, While HUD Rolls Back Fair Housing Rules

WASHINGTON INFORMER — “All the tools and resources we have been afforded by the passage of our Fair Housing Act and fair lending laws are either...

“Without proactive regulatory action and strong state laws,” said Debbie Goldstein, CRL Executive Vice President, “students of color will continue to carry larger debt burdens, exacerbating the racial wealth gap.” (Photo: iStockphoto / NNPA)

Business7 years ago

Poll of likely voters shows rising student debt problems:

NNPA NEWSWIRE — “[T]he Department of Education seems to be making it easier for for-profit colleges and servicers to take advantage of students,” said Debbie Goldstein,...

For families faced with a financial tug of war between rising costs of college and stagnant incomes, Congress’ failure to act on higher education translates into more student loans, and longer years of repayment. (Photo: iStockphoto / NNPA)

Black History7 years ago

Senate Education Chair blocks bipartisan bill to extend HBCU funding

NNPA NEWSWIRE — When federal legislation is blocked that would extend and preserve funding for HBCUs, such actions are not only an affront to today’s college...

Black History7 years ago

COMMENTARY: Debt collectors target consumers of color, people making less than $50K

NNPA NEWSWIRE — Under the Trump Administration, a consistent and focused deregulation effort has been underway to turn CFPB into a toothless tiger. It’s almost as...

Charlene Crowell is the Center for Responsible Lending’s communications deputy director. She can be reached at Charlene.crowell@responsiblelending.org.

Black History7 years ago

COMMENTARY: Why Would HUD Gut Its Own Disparate Impact Rule?

WASHINGTON INFORMER — In the August 19 Federal Register, HUD proposed a new rule that would expand the disparate impact rule into a five-step process that...

Black History7 years ago

COMMENTARY: DeVos Hands For-Profit Colleges $11.1 Billion Over 10 Years

NNPA NEWSWIRE — “Over the next decade, the Education Department projects an $11 billion cost-savings from denying loan forgiveness. But for student loan borrowers, denying $11...

Black History7 years ago

COMMENTARY: America’s Racial Wealth Gap Could Cost Economy $1.5 Trillion

NNPA NEWSWIRE — “Black families are underserved and overcharged by institutions that can provide the best channels for saving,” states the McKinsey Global Institute (MGI) report,...

In terms of lost household wealth, nationally foreclosures took $23,150. But for families of color, the household loss was nearly double — $40,297. (Photo: iStockphoto / NNPA)

Black History7 years ago

Reparations Must Include the Costs of Predatory Lending

NNPA NEWSWIRE — “Although in some respects racial equality has improved in the intervening years,” states the report, “in other respects today’s Black citizens remain sharply...

This June a coalition of 158 state and national advocates filed written comments against another recent deregulatory move planned by the CFPB. This effort would exempt hundreds of lenders from providing vital data that tracks the market and consumer access to credit.

Black History7 years ago

CFPB turns its back on fair lending enforcement and reporting

NNPA NEWSWIRE — More than 50 years ago, this nation enacted legal guarantees that fair housing would be available to all Americans. Despite this federal assurance,...

With the average borrower earning $25,000 to $30,000 a year, whatever difficulty led them to a payday loan store or web site, made their lives even worse. (Photo: iStockphoto / NNPA)

Black History7 years ago

COMMENTARY: Capitol Hill hearing takes up the war between the needy and the greedy

NNPA NEWSWIRE — “Any universe with payday lending is answering the question of how to make poverty a sustainable profitable enterprise,” noted Boston’s Rep. Ayanna Pressley...