WASHINGTON-D.C. — A lawsuit filed by the Wall Street lobby attempts to use the increasing corrosion of the judiciary by right-wing judges to enshrine in law a right to discriminate, according to Americans for Financial Reform, a broad coalition of organizations that includes civil rights and racial justice groups.
A coalition of 27 civil rights, community, consumer and other groups challenges CFPB’s consideration of reducing home lending disclosure, a critical tool to stop lending discrimination and hold banks accountable for their record of lending to communities of color and lower income neighborhoods.
“The Trump administration has stripped enforcement powers from a [CFPB] unit responsible for pursuing discrimination cases, part of a broader effort to reshape an agency it criticized as acting too aggressively… ‘These changes . . . threaten effective enforcement of civil rights laws, and increase the likelihood that people will continue to face discriminatory access and pricing as they navigate their economic lives,’ Lisa Donner, executive director of Americans for Financial Reform, said in a statement.”
Fair Lending is a fundamentally important part of the work of the Consumer Financial Protection Bureau, and of a financial system that works for families and communities. The Office of Fair Lending and Equal Opportunity needs the authority, the resources, and the connections to key levers of change to do its job.