NCRC Comment: CFPB Draft Strategic Plan Would Undercut Consumer Protection

Last week, the National Community Reinvestment Coalition (NCRC) submitted its comment letter on the Consumer Financial Protection Bureau’s (CFPB) Draft Strategic Plan for FY2026-2030, highlighting that it proposes to severely reduce staff, undo regulations that protect consumers from harm and discrimination, unreasonably limit fair lending and enforcement work and leave vast portions of the consumer financial market unsupervised. 

In its  letter, NCRC urges the CFPB to revise its plan to ensure it can engage in robust supervision, enforcement and regulation that will protect consumers. Specifically, NCRC urged the CFPB to not undercut its ability to protect consumers through (1) dramatic staff reductions, (2) scaled-back HMDA and Section 1071 regulations, (3) limiting its fair lending and other enforcement work and (4) restricting its supervisory work to depository institutions.

The letter highlights that the draft plan represents a contraction of the CFPB’s mission, vision and values that will potentially harm low- and moderate-income communities, embolden bad actors and allow consumer harms to flourish and remain unaddressed. 

To read NCRC’s comment letter, visit: https://ncrc.org/ncrc-comment-on-draft-cfpb-strategic-plan-for-fy-2026-2030/.