Angela GPlease copy and paste into the form on the website of your Senators and Representative and share with friends. https://www.congress.gov/contact-us
New rules for the Consumer Financial Protection Bureau (CFPB) mean we now need legislation that specifically requires the performance of disparate impact analysis to seek out examples of lending discrimination.
I want you to require the CFPB to conduct regular examinations of the algorithms, zip code filters, and loan approval rates of banks and other lending institutions to see how these approvals break out along racial and gender lines.
This used to be the actual job of the #CFPB, but this Republican Administration just stripped disparate impact analysis from the Equal Opportunity Credit Act. Under the new rules, lending discrimination would only be considered to exist done deliberately and documented, like saying "no, because she's a woman" or "no, because he lives in a poor neighborhood" on the application.
Banks and lenders were held accountable if their policies disproportionately harmed women, people of color, or low-income borrowers. That's how the CFPB caught banks redlining and locking entire communities out of homeownership and credit.
The CFPB is abandoning its legislatively mandated mission to ensure credit markets are fair and free of discrimination and I need you to fix this. I need you to codify the examination of potential lending discrimination into law in ways that protect all Americans.
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