Dear Friend,

Amid all the challenges 2020 has presented, one thing is certain: we’ve needed to lean on each other more than ever. For that reason, let me say thank you. Thank you for being invested in the fight for a fairer, more inclusive financial marketplace for all.

We are deeply thankful as well to the civil rights activists who are leading the way to a more equitable future. Much of our work at CRL is rooted in identifying and disrupting institutional practices that marginalize communities of color and low-income communities. This year especially we have doubled down on our commitments to make right the racial injustices that have stained our country’s past and present.

Through the difficulties of this year, which have been many, we here at the Center for Responsible Lending are also celebrating the victories and the progress toward a more equitable future.

• In Nebraska, 83% of voters rejected triple-digit payday loans — the largest margin among the three states in which citizens determined the outcome. A persistent coalition, assisted by CRL, beat back multiple payday industry attempts to block the ballot measure.
• Broad student debt forgiveness, an essential plank of CRL’s agenda since mid-2019 rose to national prominence in COVID-19 relief discussions. CRL advocates a minimum of $20,000 of cancellation for the most vulnerable borrowers and the incoming administration favored debt cancellation on the campaign trail.
• July marked the 10th anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. CRL played a key role in Dodd-Frank's passage and hosted a Facebook Live commemoration event with special guests Congresswoman Maxine Waters and Senator Elizabeth Warren.
• When it became clear that the Paycheck Protection Program (PPP) would not reach small business of color, CRL quickly and persuasively advocated for reforms to ensure that these economic engines of growth and opportunity received the funding they desperately needed.

These were not the only bright spots this year. With the impending administration change, our staff is grateful for the chance to shift focus from defending existing consumer protections and fighting the constant flood of harmful administrative actions to what really motivates us: advocating for stronger consumer protections and policies that provide real opportunity, reduce the racial wealth gap, and address systemic inequality.

Though there is much work to be done, we are encouraged by the brighter year ahead. Together, we can make a difference in the lives of working families, families of color, and so many more.

Thank you,

Mike Calhoun
President

P.S. This year, CRL is participating in #GivingTuesday, a global day of giving. We hope you will join us on December 1 by making a gift in support of a more equitable economy.

The Center for Responsible Lending (CRL) is a leading nonprofit, nonpartisan organization focused on financial fairness and opportunity. Fighting for economic justice for low- and middle-income families, military personnel and veterans, and people of color is our mission and highest priority.