CONSUMER FINANCIAL PROTECTION BUREAU ISSUES RULE: EQUAL CREDIT OPPORTUNITY ACT (REGULATION B)

WASHINGTON, April 22 -- Consumer Financial Protection Bureau has issued a rule called: Equal Credit Opportunity Act (Regulation B).

The rule was published in the Federal Register on April 22 by Russell Vought, Acting Director, Consumer Financial Protection Bureau.

Summary: The Consumer Financial Protection Bureau (Bureau or CFPB) is issuing a final rule that amends provisions related to disparate impact, discouragement of applicants or prospective applicants, and special purpose credit programs under Regulation B, the regulation implementing the Equal Credit Opportunity Act (ECOA or Act). The amendments facilitate compliance with ECOA by clarifying the obligations imposed by the statute.

For more information, contact Dave Gettler, Parale...