Comment Letter: CFPB Ruling Protecting Americans From Harmful Data Broker Practices.
The Greenlining Institute supports the CFPB’s proposed rule to regulate data brokers under the Fair Credit Reporting Act, emphasizing the need for transparency and fairness in fintech and traditional lending. The letter highlights how data brokers supply consumer inferences that impact credit decisions and argues that AI-driven credit scoring can reinforce systemic biases. It warns against targeted marketing that enables digital redlining and calls for stronger oversight to prevent discriminatory lending. While recognizing the benefits of alternative credit models in expanding financial access, Greenlining stresses that regulation is necessary to ensure fairness and accountability in the 21st century digital lending landscape.
