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CFPB Advisory Board To Review Proposed Rollbacks Of Anti‑Discrimination And Fair‑Lending Rules

09:01 AM, 12/06/2025
CFPB Advisory Board To Review Proposed Rollbacks Of Anti‑Discrimination And Fair‑Lending Rules

The CFPB will reconvene its Consumer Advisory Board next week to review proposals that could roll back anti‑discrimination safeguards and narrow fair‑lending regulations established during the civil‑rights era. The agenda, seen by Reuters, directs discussion of a White House–led proposal to limit rules banning practices that have discriminatory effects irrespective of intent. Scheduled speakers include Townstone Financial, which settled last year over racial discrimination claims, and Credova, a BNPL firm focused on firearms financing. A federal court has also blocked the CFPB from reversing its Townstone settlement.

WASHINGTON, Dec 5 (Reuters)

The U.S. Consumer Financial Protection Bureau (CFPB) will convene its expert Consumer Advisory Board next week to review a series of recent policy shifts, including proposals to roll back anti‑discrimination protections and to narrow civil‑rights‑era fair‑lending rules, according to an agenda seen by Reuters.

The board — which the CFPB is legally required to meet with twice a year — will consider the bureau's recent proposal, issued at the White House's direction, to limit rules that prohibit commercial practices producing discriminatory effects regardless of intent. The discussion will be part of two mandated sessions scheduled for Wednesday.

The Consumer Advisory Board is made up of outside experts and business representatives who advise the agency. Current members include private‑sector and nonprofit housing advocates who have served on the board since before the Trump administration installed new leadership at the CFPB.

Speakers listed on the agenda include representatives of Townstone Financial, a Chicago mortgage firm that settled with the CFPB last year amid allegations of racial discrimination, and executives from Credova, a buy‑now, pay‑later (BNPL) firm that specializes in firearms financing. James Giudice, general counsel at Credova's parent company PublicSquare — an investment fund with political connections — is also scheduled to speak.

In August, the Trump administration dropped a CFPB probe into Credova's practices, calling the investigation politically motivated. Separately, a federal court blocked the CFPB from attempting to void its court‑approved settlement with Townstone.

Representatives for the CFPB, Townstone and PublicSquare did not immediately respond to requests for comment.

Reporting: Douglas Gillison. Editing: Paul Simao.

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