Search results
20 Dis 2022 · Regulation B is part of the Equal Credit Opportunity Act (ECOA) that protects consumers from discrimination based on age, gender, ethnicity, nationality, or marital status. It also requires lenders to provide explanations to rejected applicants and prohibits them from requesting certain information not related to creditworthiness.
25 Sep 2023 · Regulation B prohibits discrimination in credit transactions and aspects of credit transactions. It covers topics such as discrimination, notification, appraisal, self-testing, and evaluation of applications.
12 Apr 2022 · Regulation B is a rule that was created by the Federal Reserve to implement the Equal Credit Opportunity Act (ECOA). The ECOA prohibits discrimination based on race, color, religion, national origin, sex, marital status, age, or use of public aid.
This part, known as Regulation B, is issued by the Bureau of Consumer Financial Protection (Bureau) pursuant to title VII (Equal Credit Opportunity Act) of the Consumer Credit Protection Act, as amended (15 U.S.C. 1601 et seq.).
Section 202.2(p) of Regulation B prescribes the standards that a credit scoring system must meet to qualify as an ‘‘empirically derived, demonstrably and statistically sound, credit system.’’. All forms of credit analysis that do not meet the standards are automatically classified as ‘‘judgmental’’ systems.
Sample Form for Collecting Certain Applicant-Provided Data Under Subpart B Appendix F to Part 1002 Tolerances for Bona Fide Errors in Data Reported Under Subpart B
12 CFR Part 1002 - PART 1002—EQUAL CREDIT OPPORTUNITY ACT (REGULATION B) CFR. State Regulations. prev | next. § 1002.1 Authority, scope and purpose. § 1002.2 Definitions. § 1002.3 Limited exceptions for certain classes of transactions. § 1002.4 General rules.
