The CFPB’s top priorities should include addressing COVID impacts for homeowners, tenants and student loan borrowers and emphasizing racial justice throughout the Bureau by looking for disparate impacts, examining new technology, and ensuring equal access to hardship programs.
This letter is focused on COVID and racial justice issues, but we also touch on other priorities, including the need to address longstanding problems with overdraft fees, payday loans, and credit reporting and to prevent emerging fintech evasions of credit and other consumer protection laws.
This letter is not an attempt to provide a comprehensive roadmap, and we would welcome the opportunity to have more in-depth conversations on these and other issues.