CFPB Boosts Examiner Ranks to Make Good on Racial Equity Pledge

The Consumer Financial Protection Bureau is following through on its promise to focus on racial equity by boosting the number of examiners scrutinizing fair lending at banks and other financial firms.

The agency in recent months has “allocated double the examiner capacity for fair lending related supervisory work,” according to a report submitted to the White House in August. That coincides with a planned 18% increase in funding for the CFPB’s Supervision, Enforcement and Fair Lending unit during the first two years of the Biden administration.

One area of examiner focus is Covid-19 relief loans that ...