Equal Credit Opportunity Act (Regulation B)
Summary
The Consumer Financial Protection Bureau is proposing updates to rules that prevent discrimination in lending and credit decisions. The changes aim to ensure that banks, credit card companies, and other lenders treat all customers fairly regardless of their personal characteristics, and make the rules clearer for both consumers and financial institutions.
Key Points
- 1This regulation enforces the Equal Credit Opportunity Act, which makes it illegal for lenders to discriminate based on race, color, religion, national origin, sex, marital status, age, or because someone receives public assistance
- 2The proposed rule clarifies what counts as illegal discrimination and updates requirements for how lenders must monitor their practices and keep records
- 3Financial institutions must inform customers if they are denied credit and explain the reasons why, giving people a chance to fix errors or challenge unfair decisions
- 4The rule affects banks, credit unions, mortgage lenders, credit card companies, and other businesses that make lending decisions
- 5The public can submit comments on this proposed rule until December 16, 2025, before the CFPB decides on final changes
Key Dates
November 13, 2025
This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.
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