Comments Due to NAFCU: CFPB - Equal Credit Opportunity Act and Regulation B
NAFCU would like to highlight the following:
- The RFI solicits comment on potential revisions to Regulation B’s official commentary which describes how to evaluate a creditor practice for disparate impact.
- The Bureau seeks to understand the challenges specific to serving Limited English Proficient (LEP) consumers and to find ways to encourage creditors to increase assistance to LEP consumers.
- Commenters are asked to consider what the Bureau can do to support efforts to meet the credit needs of minority-owned and women-owned small businesses. Several questions implicate Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which necessitates collection of small business lending data.
Comments due to NAFCU: October 23, 2020
Comments due to CFPB: December 1, 2020
NAFCU will send comments on behalf of its members to the CFPB by their deadline (October 23, 2020).