In a letter, the Student Borrower Protection Center, Americans for Financial Reform Education Fund, the Debt Collective, Center for Responsible Lending, and Student Debt Crisis Center demand that the Consumer Bankers Association (CBA) abandon its bad-faith legal action against the Consumer Financial Protection Bureau (CFPB). CBA and peer organizations including the U.S. Chamber of Commerce sued the CFPB in September 2022 in an effort to roll back the CFPB’s crackdown against ongoing discrimination in consumer finance.
Noting CBA members’ long history of breaking a startling array of consumer protection laws—including those prohibiting harmful discrimination—the advocates accuse CBA of engaging in a scheme to defang the CFPB. The advocates challenge CBA to refocus its energies toward the improvement of its members’ compliance with basic consumer protections.
Read the Letter: Letter to the Consumer Bankers Association Regarding its September 2022 Lawsuit Against the CFPB
Read the Press Release: Advocates Demand Consumer Bankers Association Abandon its Shameful Crusade to Defend Discrimination