14 AGs Urge CFPB Not To Back Off Disparate Impact Liability

Law360 (September 5, 2018, 10:39 PM EDT) -- A coalition of Democratic attorneys general cautioned the Consumer Financial Protection Bureau on Wednesday against reading disparate impact liability out of the Equal Credit Opportunity Act, calling the legal theory a "critically important feature of antidiscrimination law" that's been backed by the courts and decades of regulatory interpretation.

Led by North Carolina Attorney General Josh Stein, the AGs said in a letter to CFPB acting Director Mick Mulvaney that they have "grave concerns" about public comments he made after the agency's 2013 guidance on discrimination in auto lending was scrapped this spring via a congressional resolution of disapproval.

Those comments, which...

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