Waters Applauds Consumer Bureau Rule to Enforce Protections Against Discrimination on the Basis of Sexual Orientation and Gender Identity
Washington, DC, March 10, 2021
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the Consumer Financial Protection Bureau’s (CFPB) announcement that it will interpret the Equal Credit Opportunity Act (ECOA) to prohibit lending discrimination on the basis of sexual orientation or gender identity.
“Over the past several years, the Trump Administration has gutted protections against lending discrimination. Time and time again, former-President Trump undermined key protections and looked the other way while bad actors harmed individuals and families. Passed in 1974, the Equal Credit Opportunity Act outlawed lending discrimination. The Trump Administration weakened enforcement of fair lending laws like ECOA, leaving the LGBTQ+ community exposed to discrimination.
“Last month, my Committee held a hearing examining lending discrimination practices and Representative Al Green introduced H.R. 166, the Fair Lending for All Act, which would, among other things, codify that discrimination in credit on the basis of sexual orientation or gender identity is prohibited. I also supported the Equality Act, which would codify protections for LGBTQ+ individuals under the Fair Housing Act and ECOA. This bill passed the House by a vote of 224-206.
“I am pleased by the CFPB’s prompt action and that President Biden has prioritized the restoration of basic rights to LGBTQ+ individuals, as Congress intended with these laws. This action builds upon an earlier directive from the U.S. Department of Housing and Urban Development that protects the LGBTQ+ community from housing discrimination. No one should be discriminated against based on sex, including their gender identity or sexual orientation.”
On February 25, 2021, Chairwoman Waters gave the following statement on the House floor urging the passage of the Equality Act.
On January 27, 2021, Chairwoman Waters applauded President Biden’s Memorandum on Redressing Our Nation’s and the Federal Government’s History of Discriminatory Housing Practices and Policies.
On October 29, 2019, Chairwoman Waters held a hearing entitled: Financial Services and the LGBTQ+ Community: A Review of Discrimination in Lending and Housing.
On April 02, 2019, Chairwoman Waters held a hearing entitled: The Fair Housing Act: Reviewing Efforts to Eliminate Discrimination and Promote Opportunity in Housing.