Krishnamoorthi, Torres Lead 20 Members in Request to CFPB To Supply Congress with Better Data on LGBTQI+ Homeownership Rates

WASHINGTON, D.C. – Today, Congressmen Raja Krishnamoorthi (D-IL) and Ritchie Torres (D-NY) led 20 Members of Congress in a request to the Consumer Financial Protection Bureau (CFPB) for additional data concerning a perceived homeownership gap between LGBTQI+ households and non-LGBTQI+, straight and cisgender households. As Co-Chair and Vice-Chair, respectively, of the Congressional Equality Caucus, Congressmen Torres and Krishnamoorthi highlighted the need for better data from the agency to enable Congress to take appropriate legislative action.

According to a recent report by the Urban Institute utilizing Household Pulse Survey data, 77 percent of white, non-LGBTQI+ households are homeowners, compared to just 35 percent of Black LGBTQI+ households. When looking at ethnicity, just 43 percent of Latino and lesbian, gay, or bisexual households are homeowners, compared to 58 percent of Latino non-LGBTQI+ households.

“Responsible data collection on sexual orientation, gender identity, and variations in sex characteristics is critical to support intersectional research to better understand the credit experiences of LGBTQI+ homebuyers with respect to mortgage rates, loan terms, loan amounts, and denial rates for mortgage credit. Such data and research are essential to support evidence-based policymaking to improve the economic security and housing stability of the LGBTQI+ constituents that we serve,” the Members wrote.

The letter calls upon the CFPB to release a copy of the Bureau’s Sexual Orientation, Gender Identity, and Sexual Characteristics (SOGISC) Data Action Plan (DAP) and to provide more information regarding complaints from consumers who identify as LGBTQI+ on financial services and homebuying or home mortgage services.

Signed by Reps. Raja Krishnamoorthi (IL-08),* Ritchie Torres (NY-15),* Mark Pocan (WI-02), Mark Takano (CA-39), Becca Balint (VT-AL), Suzanne Bonamici (OR-01), Pramila Jayapal (WA-07), Barbara Lee (CA-12), Debbie Wasserman Schultz (FL-25), Shontel M. Brown (OH-11), Tony Cardenas (CA-29), Sylvia R. Garcia (TX-29), Sara Jacobs (CA-51), Chrissy Houlahan (PA-06), Summer L. Lee (PA-12), Katie Porter (CA-47), Delia C. Ramirez (IL-03), Rashida Tlaib (MI-12), Nydia M. Velazquez (NY-07), Nikema Williams (GA-05), Andre Carson (IN-07), Jim Costa (CA-21), Melanie Stansbury (NM-01), and Troy Carter (LA-02)

The letter can be read in full here, and an article about it in the Advocate can be read here.