Mortgage and Buy-Now, Pay-Later Companies to Speak at US Consumer Watchdog Panel

The U.S. Consumer Financial Protection Bureau (CFPB) is set to gather its expert advisory board next week to review recent policy shifts, including proposals to scale back anti-discrimination measures and modify civil-rights-era fair lending rules, according to a document reviewed by Reuters.

The CFPB's Consumer Advisory Board, which by law must meet twice annually, will convene on Wednesday to discuss these regulatory adjustments. The meetings come after the bureau, under White House guidance, suggested limiting rules designed to prevent commercial practices that lead to discriminatory outcomes, even when no intent is involved.

The advisory board consists of industry professionals and external experts who provide guidance to the agency. Current members include both private-sector and nonprofit advocates for housing access who have been serving since before the leadership overhaul during the Trump administration.

Speakers at the session will include representatives from Townstone Financial, a Chicago-based mortgage company that settled racial discrimination claims with the CFPB last year, as well as executives from Credova, a buy-now-pay-later firm specializing in firearm purchases. James Giudice, general counsel for Credovas parent company PublicSquare, is also scheduled to speak.

Earlier, the Trump administration terminated a CFPB inquiry into Credova, citing political motivations, while a federal court blocked the agency from challenging its settlement with Townstone.

Requests for comment from the CFPB, Townstone, and PublicSquare have not yet received a response.

Author: Logan Reeves