Regulatory Alerts2026-08-25
Added · Updated
Special Purpose Credit Programs: Rescission of Interagency Statement
The Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, Consumer Financial Protection Bureau, Department of Housing and Urban Development, Department of Justice, and Federal Housing Finance Agency are rescinding the "Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B," dated February 22, 2022. This action clarifies that creditors may not discriminate against borrowers based on prohibited characteristics and should not rely on the rescinded statement or other related issuances. All special purpose credit programs must comply with the Equal Credit Opportunity Act, Regulation B, and the Fair Housing Act, as federal law does not authorize generalized remedial "equity" initiatives without specific cases of unlawful discrimination. The rescission is effective upon publication in the Federal Register.