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

Most recently amended Aug. 29, 2023

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

On July 31, 2023, the U.S. District Court for the Southern District of Texas ordered the CFPB not to implement or enforce the small business lending rule against plaintiffs in Texas Bankers Ass'n, et al. v. CFPB, et al., No. 7:23-cv-00144, and their members. That order, a copy of which is available here , stays all deadlines for compliance with the small business lending rule for plaintiffs in that case and their members.

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