CFPB extends deadline for input on expanding financial inclusion, preventing discrimination

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The CFPB is extending its deadline to Dec. 1 for public input on ways to encourage financial inclusion and prevent discrimination in the financial system.

The deadline extension for comments gives interested parties more time to conduct outreach “to relevant constituencies and to address the many issues” raised in the original request for information, according to an Aug. 19 CFPB statement.

Specifically, the CFPB is seeking information on ways to best create a regulatory environment that expands access to credit and also ensures that consumers and communities are protected from discrimination in all aspects of a credit transaction, according to the statement.

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,” according to the CFPB.

Kathleen Kraninger, CFPB director, originally announced the request for information during remarks to the Senate Banking Committee on July 29, the transcript of which can be accessed by clicking here. Comments previously were due Oct. 2.

The full request for information can be accessed on the CFPB website.

 

 

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