The Consumer Federation of America submitted comment to The Consumer Financial Protection Bureau (CFPB) on proposed changes to Regulation B to implement the Equal Credit Opportunity Act.

The CFPB’s proposal to dismantle the Equal Credit Opportunity Act runs counter to the values of the American public, the financial institutions that serve them, and the clearly stated intentions of Congress. The proposal will strip regulators of the tools they need to identify disparate impacts, encourage redlining, and impose fear in lenders that wish to offer special-purpose credit programs.