ICBA seeks extension on ECOA RFI deadline

ICBA joined other groups urging the Consumer Financial Protection Bureau not to rush potential changes to the Equal Credit Opportunity Act.

The joint industry and consumer advocacy letter requested additional time to provide “thoughtful comments” on the bureau’s request for information on creating a regulatory environment that expands access to credit while protecting consumers from discrimination in credit transactions.

The 60-day comment period is “not sufficient” to address the 10 important issue areas raised in the RFI to help the bureau achieve its goals, the group wrote.