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12 CFR Part 1002 - Equal Credit Opportunity Act (Regulation B)

Most recently amended Jan. 1, 2022

Regulation B protects applicants from discrimination in any aspect of a credit transaction.

On March 30, 2023, the CFPB issued the small business lending final rule. A future version of Regulation B will be published soon.

Credit transactions and aspects of credit transactions include:

  • Consumer credit
  • Business credit
  • Mortgage loans
  • Refinancing
  • Open-end credit
  • Credit applications
  • Standards of creditworthiness
  • Denial of credit
  • Servicing and collection
  • Revocation, alteration, or termination of credit

The regulation covers topics such as:

  • Discrimination
  • Discouragement
  • Notification of action taken (including adverse action)
  • Appraisal and other written valuations
  • Special purpose credit programs
  • Limitation on collection certain protected information
  • Self-testing and self-correction
  • Evaluation of applications
  • Signature requirements
  • Mandatory information collection for monitoring purposes