August Hot Shots from the Responsible Lending Collaborative

Organized by RISE Memphis in 2003, the Responsible Lending Collaborative conducts research and explores how to better reduce bankruptcies, lower debt, repair credit and educate the public on the perils of predatory lending.

They just released their Hot Shots for August (pdf) which includes:

  • Info about the Federal Trade Commission’s recently released report [pdf] which is an “absolute condemnation of debt collection practices across the county.”
  • Info about a new NCLC’s report [pdf] on Debt Collection Abuses, “The Debt Machine: How the Collection Industry Hounds Consumers and Overwhelms Courts.”
  • The IRS’s recent action to rein in Refund Anticipation Loan Providers
  • Link to Consumer Action’s 5 page digest [pdf] of the key points in the new financial reform legislation.
  • Info about FDIC’s Model Safe Accounts pilot program

The Responsible Lending Collaborative consists of more than 180 member institutions and individuals from business, banking, government, not-for-profit and faith-based organizations meet regularly to share and add knowledge. More info at RiseMemphis.org.

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