WASHINGTON, June 17 -- Consumer Financial Protection Bureau has issued a rule called: Equal Credit Opportunity (Regulation B); Special Purpose Credit Programs; Rescission.
The rule was published in the Federal Register on June 17 by Russell Vought, Acting Director, Consumer Financial Protection Bureau.
Summary: The Consumer Financial Protection Bureau (Bureau) is rescinding an advisory opinion issued in December 2020 regarding Regulation B, which implements the Equal Credit Opportunity Act (ECOA), as it applies to certain aspects of special purpose credit programs designed and implemented by for-profit organizations to meet special social needs.
For more information, contact Dave Gettler, Paralegal Specialist, Office of Regulations, at 2...