In a blog post on the CFPB website, the CFPB advocated on behalf of veterans with service-connected disabilities, who face obstacles when transitioning back to civilian life and working to become financially secure. The CFPB emphasized that individuals with disabilities have the right to fair treatment in the financial marketplace and access to tools that can help them improve their financial lives. As we have previously discussed, the CFPB recently launched a ROADS (Reaching Outcomes. Achieve Dreams. Succeed.) to Financial Independence Initiative to provide financial counseling to consumers with disabilities, including veterans.
Companies should be prepared to respond to CFPB questions about any practices that could negatively impact disabled veterans. Although the CFPB does not have regulatory, supervisory, or enforcement authority under the American with Disabilities Act (ADA), the CFPB has shown a willingness to work closely with the Department of Justice (which has enforcement authority under the ADA) to take action against companies that are alleged to be engaged in unlawful and discriminatory practices, such as the recent settlement to resolve fair lending charges against Honda.