On February 9, the U.S. District Court for the Western District of Washington denied a motion for preliminary injunction in a case challenging Washington’s Covenant Homeownership Program, a special purpose credit program...more
On February 3, several U.S. senators sent a letter to CFPB Acting Director Russell Vought urging the Bureau to rescind its proposed rule that would end the ECOA’s disparate impact test, which would prevent the CFPB from...more
Summary: In this episode of Financial Services Focus, Kris Kully and EY Managing Director of Financial Services Brian Clark discuss the Consumer Financial Protection Bureau's proposed rule under the Equal Credit Opportunity...more
On November 13, the Consumer Financial Protection Bureau published a Notice of Proposed Rulemaking proposing various revisions to Regulation B. ...more
On November 13, 2025, the CFPB published in the Federal Register a significant proposed rule (the “Proposal”) that would radically diminish the protections against discriminatory lending practices afforded to protected...more
Earlier this year, President Trump issued Executive Order 14281 (the “Executive Order”) directing a review of existing federal regulations and guidance documents that impose disparate impact liability (sometimes referred to...more
On November 13, the CFPB issued a sweeping proposed rule to overhaul Regulation B, arguably the most far-reaching ECOA rewrite in the agency’s history. The proposal would eliminate disparate-impact liability under ECOA,...more
On November 3, 2025, Skadden and Troutman co-hosted a conference in Washington, D.C. titled “Fair Lending 2025: Navigating Turbulent Waters.” Leading the conference were Anand Raman, head of Skadden’s Consumer Financial...more
The CFPB has issued a proposed rule that would make substantial changes to Regulation B under the Equal Credit Opportunity Act (ECOA). In one of the most significant changes, the bureau has preliminary determined that...more
The Consumer Financial Protection Bureau (“CFPB”) has issued its proposed rule scaling back the interpretation of and regulations under the Equal Credit Opportunity Act (“ECOA”). While the agency placed the proposal on its...more
On November 13, 2025, the Consumer Financial Protection Bureau (CFPB) released a Notice of Proposed Rulemaking (NPRM) amending Regulation B – the regulation implementing the Equal Credit Opportunity Act (ECOA)....more
On November 13, the CFPB published a proposed rule in the Federal Register to amend Regulation B, which implements the ECOA. ...more
The Consumer Financial Protection Bureau (CFPB or Bureau) has proposed an unprecedented, far‑reaching rewrite of Regulation B (Reg B) under the Equal Credit Opportunity Act (ECOA). If finalized, the proposed rule would...more
The Federal Housing Finance Agency (FHFA) has taken two significant deregulatory steps affecting its oversight of the government-sponsored enterprises, Fannie Mae and Freddie Mac (GSEs). The agency rescinded a 2024 advisory...more
For the last several years, federal agencies, including the Consumer Financial Protection Bureau (“CFPB”), have been strongly encouraging financial institutions to implement and offer targeted credit assistance to...more
The national and administrative focus on advancing racial equity and support for underserved communities keeps fair servicing in the foreground as a top priority for mortgage servicers. In this webinar, you’ll hear from a...more
In a recent interagency statement, the federal banking regulators highlighted the availability of Special Purpose Credit Programs (SPCPs) as a tool for financial institutions to expand access to credit for underserved...more
We thank you for reading our Top 10 and listening to our CFPB Bites of the Month webinars over the past two years. We are pleased to continue the series in 2022. In this month's article, we share some of our top "bites" for...more
Yesterday, eight federal agencies joined together to issue an “Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B” (Interagency Statement). The agencies consist...more
A buy-now pay-later company faces a potential class action alleging it hid the risk of overdraft and NSF fees from its users. Leaders of the CFPB’s Fair Lending Office published an article encouraging the use of special...more
FDIC Creates New Exceptions for Fintech Companies with Its Final Brokered Deposit Rule - On December 15, 2020, the Federal Deposit Insurance Corporation (FDIC) finalized its updated brokered deposit rule, providing...more
On December 21, 2020, the CFPB issued an advisory opinion that addresses regulatory uncertainty related to certain aspects of special purpose credit programs (“SPCPs”) designed and implemented by for-profit organizations. The...more
Increasingly, lenders are interested in pursuing proactive efforts to increase lending opportunities for members of African-American, Hispanic and other communities that may have traditionally been underserved. These...more