Estimates and Projections Regarding Michigan’s Financial Crisis

[From Lisa Nuszkowski.]

The Center for Responsible Lending has issued estimates and projections around the financial crisis in Michigan and the need for a Consumer Financial Protection Agency.  This document provides a snapshot of how the failure to protect consumers has impacted the state of Michigan, in terms of the number of mortgage delinquencies and foreclosures; lost wealth; squelched state consumer protection laws; overdraft loan costs; and payday lending.