Consumer Financial Protection Bureau Issues Advisory Opinion to Help Expand Fair, Equitable, and Nondiscriminatory Access to Credit

December 21, 2020

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The CFPB issued an advisory opinion to address regulatory uncertainty regarding Regulation B, which implements the Equal Credit Opportunity Act (ECOA), as it applies to certain aspects of special purpose credit programs (SPCPs) to clarify that it is not discrimination for for-profit organizations to provide SPCPs designed to meet special social needs.

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