The FTC abstract its law enforcement activities regarding Equal Credit Opportunity Act (“ECOA”). The FTC letter was a response to a request from the CFPB who intends to use the information in the preparation of the CFPB’s 2021 annual report to Congress.
In the report, the FTC pointed out:
- the different ways in which substance use issues affect communities of color;
- continued support from military consumers;
- participation as a member of the inter-agency working group on lending equity to share information and discuss policy issues; and
- participation as a member of the Interagency Fair Lending Methodologies Working Group to provide insight into the methods used in the enforcement and monitoring of compliance with Fair Lending laws, including the ECOA.
- FTC Press Release: FTC Staff Provide Annual Letter to CFPB on Equal Credit Opportunity Act of 2021 Activities
- FTC Report to CFPB: Equal Credit Opportunity Act 2021
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