Regulatory Compliance
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#CFPB Clarifies How Regulations Apply to Same-Sex Married Couples

The CFPB announced in a memo last week its intent to recognize all lawful marriages valid at the time of marriage in the jurisdiction where the marriage was celebrated, aligning itself with other agencies across the federal government.  This policy is applied to all of the laws and regulations administered by the CFPB, including the Equal Credit Opportunity Act (ECOA), Fair Debt Collection Practices Act (FDCPA), Truth in Lending Act (TILA), and Real Estate Settlement Procedures Act (RESPA).  This means that when it comes to administering, enforcing, or interpreting these regulations, the CFPB will use and interpret terms like “spouse,” “marriage,” “married,” “husband,” “wife,” and any other similar terms related to family or marital status to include same-sex marriages and same-sex spouses.  The CFPB’s policy on same-sex marriage follows HUD’s Equal Access Rule, which became effective March 5, 2012 and ensures equal access to housing regardless of sexual orientation, gender identity, or marital status.

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