Dear friend,

On behalf of the Center for Responsible Lending, I want to extend our sincere gratitude for your support over the past year. Thank you for standing alongside us as we fight for an inclusive and fair economy that offers everyone opportunities to build wealth and protection from predatory lenders. Your support demonstrates your commitment to equity and justice, which we need now more than ever.

Despite the many challenges we’ve all faced in 2021, we do have a lot to be thankful for this year:

• President Biden signed the resolution to repeal the Office of the Comptroller of the Currency (OCC)’s “True Lender” rule, which allowed third party lenders to partner with banks and avoid state regulations like interest rate caps. CRL played a key role in advocating for the repeal, leading coalition work, providing testimony, and engaging regularly with congressional leadership on strategy.
• Ashley Harrington, former Director of Federal Advocacy at CRL, was featured on a segment of Full Frontal with Samantha Bee to discuss the shortcomings of Trump’s Paycheck Protection Program (PPP), and on the Student Loans episode of the Netflix show Money, Explained.
• House Financial Services Committee Chairwoman Maxine Waters introduced a comprehensive legislative package to help address the affordable housing crisis – the Downpayment Toward Equity Act of 2021, Ending Homelessness Act of 2021, and Housing Is Infrastructure Act of 2021. CRL endorsed the bills and played a key role in the formulation of the downpayment bill. 
• Illinois passed a 36% interest rate cap that applies to consumer loans such as payday and car title loans. CRL is currently working to ensure that the Veterans and Consumers Fair Credit Act is passed in Congress, which would create a 36% rate cap at the federal level.

While we have a lot to celebrate, there is still plenty of work to be done. The events of the past two years have made the overwhelming racial and economic disparities exacerbated by the ongoing pandemic glaringly obvious. While CRL has always held uplifting communities of color and other underserved populations at the center of our mission, we now have a renewed focus on closing the racial wealth gap and are confident knowing we have supporters like you backing us.

We hope that you will consider CRL this #GivingTuesday, November 30, as people around the world come together to generously support organizations that make a positive impact on their communities. Together, we can make a difference in the lives of working families, communities of color, and so many more.

Thank you, once again, and on behalf of CRL, I wish you and your family a wonderful holiday season and all the best in 2022.

With gratitude,

Mike Calhoun
President

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.

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