CFPB: Discrimination by lenders on the basis of sexual orientation or gender identity is illegal

The Consumer Financial Protection Bureau today issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act and Regulation B includes sexual orientation discrimination and gender identity discrimination. This prohibition also covers discrimination based on actual or perceived nonconformity with traditional sex- or gender-based stereotypes, and discrimination based on an applicant’s social or other associations. The rule follows a request for public comment issued by the CFPB last July.

The rule is here. The CFPB's press release is here.

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