A new study indicates that careful evaluation of the current regulatory environment is necessary to ensure that the debt collection and debt buying industries are allowed to fulfill their role in the U.S. economy. more »
"Although there may be some risk of overestimating disparities, the alternative presents an equal (and perhaps greater) risk of underestimating disparities and thus consumer harm," wrote Patrice Ficklin, head of the CFPB's Office of Fair Lending, in a memo to agency officials in 2013.
WASHINGTON The Consumer Financial Protection Bureau's method for detecting discrimination by indirect auto lenders can overestimate potential bias, resulting in higher payments for lenders cited by the agency, according to internal CFPB documents. more »