Commits to Review Credit Access for Stay-at-Home Parents - Yesterday, May 17th, stay-at-home mom Holly McCall and representatives of MomsRising personally met with Director of the Consumer Financial Protection Bureau (CFPB) Richard Cordray to address stay-at-home parents’ concerns about their access to credit.
The meeting came less than 48 hours after McCall delivered more 45,000 petition signatures collected on Change.org and MomsRising.org to the bureau, asking them to reconsider what consumers are calling a “Mad Men” era policy that prevents full-time parents from claiming household income in order to apply for a credit card.
After listening thoroughly to Holly's concerns, Cordray committed to reviewing how the implementation of the CARD Act has affected thousands of Americans, especially stay at home parents, and work with Holly to create a solution that no longer disempowers full-time parents. He said the agency will get back to them within 30 days.
Holly had this to say about the meeting:
“I am really pleased that Mr. Cordray agreed to meet with me himself to address unfair access to credit for stay-at-home parents. It’s clear the Consumer Financial Protection Bureau listened to the 45,000 voices asking them to change this rule which unfairly penalizes hard-working moms and dads. I look forward to working with Director Cordray to fix this glaring issue.”
McCall and Moms Rising will work closely with the CFPB over the next 30 days to advocate for a resolution that allows stay-at-home parents access to credit.
View and Sign Holly McCall’s Petition Here: