Ex-CFPB official warns of "disparate impact" scrutiny on credit cards

11/12/2013 | AmericanBanker.com (free registration)

The Consumer Financial Protection Bureau may soon start scrutinizing credit card issuers to determine whether their use of credit scores leads to discrimination against certain demographics, former CFPB official Leonard N. Chanin writes. Credit card issuers have tightened their lending standards in recent years, and the CFPB has indicated that analyzing lenders for disparate impact has become one of its priorities, Chanin notes.

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