CFPB in the news: fights over funding and rule changes, plus lawsuits over ECOA and housing protections. Independent U.S. agency guarding consumers in finance.
A federal lawsuit filed in Washington, D.C. challenges the CFPB’s recent ECOA rule change, arguing it ends disparate-impact considerations and could steer lending toward white neighborhoods, heightening minority access to credit risks. Plaintiffs warn of broader efforts to dismantle fair-housing protections.
The Biden-era SAVE plan is being replaced under a broad federal overhaul. The Department of Education has launched two new repayment options while phasing out several legacy plans. Borrowers are seeing glitches and miscommunications as they transition, with many facing incorrect PAYE availability and rising estimates under IDR plans.