Charlene Crowell, a senior fellow at the Center for Responsible Lending, warns that app-based payday lending products such as Buy Now, Pay Later and Earned Wage Access trap financially vulnerable consumers in cycles of debt, especially during the holiday season and following the government shutdown.
Tag: Charlene Crowell
Posted inOpinion
A brutal – not beautiful bill – cuts consumer protection funding in half
Charlene Crowell is a senior fellow with the Center for Responsible Lending. This week she warns that the newly passed budget bill slashes consumer protection and student loan support, threatening financial stability for millions while benefiting the wealthy.
Posted inEducation
Pell Grants at peril: 7 million recipients face $9 billion program cut
Charlene Crowell is a senior fellow with the Center for Responsible Lending. In this piece, she examines how a House-passed FY 2026 budget proposal that cuts $9 billion from Pell Grant funding, threatens access to higher education for millions of low-income students by reducing grant amounts, tightening eligibility, and disproportionately impacting adult learners and students of color.
Posted inPOLITICS
FY 2026 budget plan cuts and guts education dollars and programs
In its first 100 days, the 47th president’s administration has cut or planned to cut over 250,000 federal jobs, including major reductions at the Department of Education, signaling an intent to dismantle the agency and slash funding for key programs that support low-income and student-parent populations, especially affecting Black college students.
Posted inCommentary
Commentary: Cuts to Minority Business Development Agency leaves 3 staff
A recent executive order aimed at reducing government functions has significantly cut staffing and funding for key federal programs like the Minority Business Development Agency (MBDA) and the Community Development Financial Institutions (CDFI) Fund, despite their proven success in fostering minority-owned businesses and revitalizing underserved communities. Critics, including bipartisan senators and Rep. Maxine Waters, argue these cuts undermine economic equity and squander public-private models that yield substantial returns and job creation.
Posted inBUSINESS
A loan shark in your pocket: Cellphone payday loan apps leave many consumers worse off
Predatory earned wage advance (EWA) apps are trapping low-income workers in cycles of high-interest debt, with borrowers often reborrowing at rates equivalent to 300 percent APR or more. Consumer advocates and regulators warn that without stronger financial protections, these apps will continue to exploit vulnerable Americans, deepening financial insecurity rather than alleviating it.