The Consumer Financial Protection Bureau enforces equal credit opportunities. The Equal Credit Opportunity Act that was released to prohibit discrimination against LGBTQ+ people because of their sexual orientation or gender identity has been expanded with a new rule. Now discrimination against LGBTQ+ people will be officially considered illegal. This decision was made after the Department of Housing and Urban Development enforced the Fair Housing Act. This act also prohibited the discrimination of people on the basis of sexual orientation and gender identity.
Undoubtedly, these initiatives will positively impact the lives of the community members. LGBTQ+ people will no longer be denied loans based on their orientation. Such events allow people to rely on the help of financial organizations in case of emergency expenses.
This decision will help to improve the lives of the 11 million LGBTQ+ people all over the country.