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<\/p>\nFebruary 1, 2018<\/p>\n
FOR IMMEDIATE RELEASE
\nContact: Jessica Aiwuyor, 202-898-1661, JAiwuyor@nationalfairhousing.org<\/p>\n
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WASHINGTON, D.C. \u2013 Shanna L. Smith, President and CEO of the National Fair Housing Alliance, issued the following statement concerning the Trump Administration\u2019s decision to remove enforcement powers from the CFPB\u2019s Office of Fair Lending.<\/p>\n
\u201cToday\u2019s Washington Post\u2019s report of the Trump Administration\u2019s decision to strip away the CFPB\u2019s Office of Fair Lending\u2019s enforcement powers clearly prioritizes the wishes of Wall Street and loan sharks over the rights of Americans to access quality credit and financial products free from discrimination.\u00a0 The CFPB, by design, is the only independent regulator explicitly charged with protecting the financial well-being of the American people and it seems that every action taken by this Administration and opponents of the Bureau have been to undermine the critical public service that the Bureau provides.\u00a0 The Office of Fair Lending and its mission were intended to address and eliminate widespread discrimination in the financial marketplace that destabilized entire communities of color in the lead up to the 2008 financial crisis.\u201d<\/p>\n
\u201cMulvaney\u2019s decision falls squarely in line with the approach that the Trump Administration has taken regarding civil rights \u2013 undermine critical civil rights safeguards and those in government responsible for enforcing them under the guise of \u2018efficiency\u2019 and \u2018accountability.\u2019\u00a0 But by taking away the Office of Fair Lending\u2019s enforcement authority, the Trump Administration has sent a signal to the financial services industry that they can operate without fear of repercussions for discriminatory policies, practices, and products.\u00a0 Consumers have not forgotten the devastation caused by unchecked lending discrimination and predatory lending abuses in the lead up to the foreclosure crisis.\u00a0 They also have not forgotten that the CFPB was created to focus protection on consumers \u2013 not lenders who would engage in discriminatory practices.\u201d<\/p>\n
\u201cWhile Mick Mulvaney and the Trump Administration seem content with ignoring the CFPB\u2019s fair lending responsibilities under existing statutes, civil rights advocates stand ready to challenge this decision and hold the Bureau\u2019s feet to the fire.\u00a0 The National Fair Housing Alliance strongly urges Mick Mulvaney and the Trump Administration to reverse its decision and reinstate the rightful enforcement powers of the CFPB\u2019s Office of Fair Lending.\u201d<\/p>\n
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National Fair Housing Alliance<\/strong> Founded in 1988, the National Fair Housing Alliance is a consortium of more than 220 private, non-profit fair housing organizations, state and local civil rights agencies, and individuals from throughout the United States.\u00a0 Headquartered in Washington, D.C., the National Fair Housing Alliance, through comprehensive education, advocacy, enforcement programs, and neighborhood-based community development programs provides equal access to apartments, houses, mortgage loans, and insurance policies for all residents in the nation.<\/p>\n","protected":false},"excerpt":{"rendered":" February 1, 2018 FOR IMMEDIATE RELEASE Contact: Jessica Aiwuyor, 202-898-1661, JAiwuyor@nationalfairhousing.org The National Fair Housing Alliance Condemns the Trump Administration\u2019s Decision to Strip Fair Lending Enforcement Powers from the CFPB\u2019s Office of Fair Lending WASHINGTON, D.C. \u2013 Shanna L. Smith, President and CEO of the National Fair Housing Alliance, issued the following statement concerning […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33,34,2],"tags":[],"class_list":["post-1590","post","type-post","status-publish","format-standard","hentry","category-news-media","category-nfha-news","category-press-releases"],"acf":[],"yoast_head":"\n