Loading....
Attacks on the Equal Credit Opportunity Act Put Affordable Credit at Risk
The CFPB has issued a proposed rule gutting fair lending protections under the Equal Credit Opportunity Act (ECOA). Please comment by December 15th.
Here are the facts:
- The CFPB's proposed rule would decimate fair lending protections in the ECOA, which prohibits discrimination in lending.
- This would permit unfettered gender, age, and racial discrimination in all consumer lending decisions, including mortgages, credit cards, and car loans.
- The comment period is only 30 days. Comments are due December 15, 2025. Please comment and share your stories in your comment.
Here is a fact sheet describing the rule and below is an outline and submission form you can use to send your own, unique comments directly to the CFPB. You can find the rule here.Comments from individuals and organizations are both welcome and useful. We want as many unique comments as possible to build the record that illegal discrimination is real and harmful. The more evidence there is in the record the stronger the case for any litigation challenge will be. Comments can also be used to show the press, legislators, and other policymakers, now and in the future, the importance of preserving or restoring ECOA's protections.
>Tell us your story. Have you been harassed by debt collectors calling? Are you getting email, text, or direct messages from debt collectors? Have you been sued in a collection lawsuit where you didn’t owe the debt or the amount claimed was incorrect? Have you been contacted by a collector asking you to pay a very old debt? Then tell us your story.
> Find an attorney to help stop abusive debt collection practices.
> LEARN MORE about the CFPB’s debt collection rule and NCLC’s work to promote fair debt collection.
Please tell us more about the consumer law issues you care about, so we can give you more opportunities to take action and be heard. Personalize your NCLC engagement by clicking the button below