The CFPB’s Office of Fair Lending and Equal Opportunity has announced that it will hold a day-long symposium, “Building a Bridge to Credit Visibility,” to “explore challenges many consumers face in accessing credit.”
The CFPB has indicated that the symposium “will convene a diverse set of stakeholders to explore challenges in overcoming barriers to expand fair, equitable, and non-discriminatory access to credit for individuals and communities” and will include perspectives from industry, academia, trade associations, government, community groups, research, and think tank organizations. Although the agenda is not yet available, the CFPB has also indicated that symposium sessions “will highlight strategies and innovations to overcome barriers and expand consumer credit access.”
The CFPB’s announcement includes a link to register for in-person attendance at the symposium (and encourages registration as soon as possible because space is limited.) The registration link will close at midnight on Friday, September 7. The event will also be livestreamed on the CFPB’s website.
To our knowledge, this is the first time that the CFPB has conducted a symposium in order to obtain input from all stakeholders. We applaud the CFPB for holding a symposium focused on fair lending. Ironically, consumer advocates have heavily criticized the Bureau for taking steps to diminish the importance of fair lending, most notably for Acting Director Mulvaney’s reorganization of the CFPB’s Office of Fair Lending.