CFPB, Amici Say Discrimination Protection Is Valid For Prospective Borrowers

(June 23, 2023, 8:59 AM EDT) -- CHICAGO — Two amicus curiae briefs have been filed in the Seventh Circuit U.S. Court of Appeals in support of the Consumer Financial Protection Bureau (CFPB), which argues in its opening brief that Congress clearly intended the Equal Credit Opportunity Act (ECOA) to apply to prospective mortgage borrowers and that a district court erred in dismissing its case alleging that a lender discriminated against African-Americans by discouraging them from applying for mortgage loans in the Chicago metropolitan area....