The CFPB is seeking public input on ways to encourage financial inclusion and prevent discrimination in the financial system.
The CFPB issued the request for information on ways to create a regulatory environment that expands access to credit and ensures that all consumers and communities are protected from discrimination in all aspects of a credit transaction.
Information collected will help the agency to “continue to explore ways to address regulatory compliance challenges while fulfilling the Bureau’s core mission to prevent unlawful discrimination and foster innovation,” the request stated.
Kathleen Kraninger, CFPB director, announced the request for information during remarks to the Senate Banking Committee on Wednesday, the transcript of which can be accessed by clicking here.
“Under my leadership, the CFPB is taking steps to help create real and sustainable changes in our financial system so that African Americans and other minorities have equal opportunities to build wealth and close the economic divide,” Kraninger told members of the committee.
The full request for information can be accessed on the CFPB website.