“ABA applauds the CFPB for its proposal to amend federal regulations to make it easier for stay-at-home spouses to get access to credit and build a credit history. The Bureau responded to a bipartisan consensus in Congress – most notably Financial Institutions Subcommittee Chairman Shelley Moore Capito (R-W.Va.) and Ranking Member Carolyn Maloney (D-N.Y.) – to address this issue. While the devil is in the details, the CFPB’s willingness to address this problem is important. It’s the right thing to do and will help millions of Americans in the process.”
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The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $14 trillion banking industry and its two million employees. Learn more at aba.com.