Will the assessment required by the rule by a violation of bankruptcy code
A review and assessment of financial responsibility is sufficient if it considers, as relevant factors, the existence of current outstanding judgments, tax liens, other government liens, nonpayment of child support, or a pattern of bankruptcies, foreclosures, or delinquent accounts.
The Bankruptcy Code states, under Title 11, Chapter 5, Subchapter 2, Section 525b, that “no private employer may terminate the employment of, or discriminate with respect to employment against, an individual who is or has been a debtor under this title, a debtor or bankrupt under the Bankruptcy Act.”
As you point out the new ability-to-repay rules also specifically mention that you can consider bankruptcy. The rules are effective in January 2014. Hopefully the CFPB will address this apparent inconsistency between now and then. You may want to begin a dialogue with the bank’s legal counsel in the event that the CFPB drops the ball again.