The Consumer Financial Protection Bureau (CFPB) has finalized its rule updating the Equal Credit Opportunity Act (ECOA) and its implementing regulation, Regulation B.
The final rule balances fair lending with consumer protection. When the rule takes effect July 21, it will:
Pursuant to its authority under ECOA, 15 U.S.C. 1691b(a), and the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), 12 U.S.C. 5512(b), the Bureau is amending provisions in Regulation B, 12 CFR part 1002, pertaining to: whether disparate impact is cognizable under the Act; under what circumstances a creditor may be deemed to be discouraging an applicant or prospective applicant; and under what conditions a creditor may offer special purpose credit programs (SPCPs).
In 2020, the Bureau issued a Request for Information on ECOA and Regulation B (RFI).[1]
The RFI solicited information about disparate impact, prospective applicants, and SPCPs, among other topics. The Bureau reviewed the comments submitted in response to the RFI and obtained other information in the course of carrying out its statutory responsibilities. In November 2025, the Bureau issued a notice of proposed rulemaking amending Regulation B (proposal or proposed rule). The Bureau has considered the comments submitted in response to the proposed rule.[2]
The Bureau now finalizes the rule as proposed. The Bureau’s final rule provides that ECOA does not authorize disparate-impact liability (effects test), further defines discouragement, and adds prohibitions and conditions for SPCPs.
The final rule cites America’s Credit Unions’ comments in support throughout.
For more information, email Lisa Quaranta.
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For more information, email Lisa Quaranta.
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