CFPB Seeking Information about Preventing Credit Discrimination

On July 28, 2020, the Consumer Financial Protection Bureau (CFPB) announced a request for information (RFI) on preventing credit discrimination and building a more inclusive financial system.  Information about this effort is available at here. AFSA strongly supports the Equal Credit Opportunity Act.

The RFI seeks feedback on issues including disparate impact, limited English proficiency, special purpose credit programs, advertising, and small business lending. The deadline for submissions is 60 days after the RFI is published in the Federal Register.  AFSA staff plans to coordinate with members to prepare a response to the RFI.