Sex live without credit

Since 1974, progressives have sought to broaden federal civil rights laws’ ban on “sex discrimination” to encompass discrimination on the basis of sexual orientation and what we today call gender identity.One key area where LGBTQ people need protection is credit—bank loans, mortgages, brokerage services, and the like.

Over the last several decades, courts and agencies have expanded the scope of “sex discrimination” bans to encompass both anti-trans and anti-gay discrimination.The CFPB announced its new guidance in response to an inquiry from an advocacy group called SAGE (Services and Advocacy for GLBT Elders).Older LGBTQ people are more likely to live in poverty than others due to a lifetime of discrimination; this discrimination can extend through retirement, when creditors may hesitate to provide financial assistance out of ignorance or animus.SAGE already worked closely with the Department of Housing and Urban Development to help that agency clarify that its Equal Access Rule protected LGBTQ people from discrimination in Department of Housing and Urban Development–financed housing.

In June, it asked the CFPB whether it “views credit discrimination on the bases of gender identity and sexual orientation …

The CFPB’s clarification with respect to the Equal Credit Opportunity Act moves the ball forward in ensuring that LGBT older people have access to credit on an equal playing field.” “This is welcome news to LGBT people applying for mortgages, small business loans, and accessing other types of credit that keep us participating in today’s economy,” she said.