On behalf of the California Reinvestment Coalition, Democracy Forward, a nonprofit legal group that focused on executive branch activities, this week sued the Trump administration and the Consumer Financial Protection Bureau for defying the Dodd-Frank Act by “unlawfully failing to collect and disclose data on lending to women-owned, minority-owned, and small businesses.”
Dodd-Frank requires the CFPB to collect this data from financial institutions and make it publicly available to facilitate enforcement of fair lending laws to curb lending discrimination. Congress further mandated that the CFPB issue rules to implement this data collection.
