The Center for Responsible Lending (CRL), a non-profit affiliated with Self-Help, a leading community development bank in North Carolina, California, and Washington, DC, conducts independent research and does policy work dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices.
In a recent New York Times article on the collapse of Fannie Mae, former CEO stated, "Almost no one expected what was coming. It’s not fair to blame us for not predicting the unthinkable." I find this statement hard to believe, since CRL has been sounding the alarm about subprime lending for over two years now. The subprime debacle, was a predictable crisis for people who work looking.
CRL's policy prescriptions for responsible lending in the US have been amazingly prescient. If you are looking for new ideas other than the bailout that might be able to right out economy, their website makes for interesting reading.
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