The U.S. Consumer Financial Protection Bureau and the Department of Justice will share information to streamline enforcement of fair-lending laws, the two agencies announced.
“The Department of Justice welcomes the new tools and resources the CFPB can bring to the fight against lending discrimination,” Thomas E. Perez, assistant attorney general for the department’s civil rights division, said in an e-mailed statement.
Both the consumer bureau, which was created by the Dodd-Frank law of 2010, and the department have authority to fight discrimination in lending under the Equal Credit Opportunity Act. The act bars discrimination in lending on the basis of race, religion, national origin and other protected categories.
Under the accord, the two agencies will share information and take steps to keep it confidential, according to the statement. They will also notify each other of enforcement work to avoid unnecessary duplication, according to the statement.