The CFPB is expected to limit the use of disparate-impact analysis under the Equal Credit Opportunity Act, as the agency intends to rewrite the ECOA rule, according to attorneys tracking the issue.
The CFPB will focus its rulemaking efforts on implementing directives from the Dodd-Frank reform act over the next 12 months, according to the agency’s latest rulemaking agenda.
A collection of industry and consumer advocacy groups jointly urged the CFPB to expeditiously start rulemaking to expand ability-to-repay requirements to Property Assessed Clean Energy (PACE) loans.
The CFPB said it will focus on ability-to-repay provisions as it tries to overhaul its controversial rule on payday, title and high-cost installment lending.