Federal Register #2026-12149

CFPB Rescinds Advisory Opinion on Regulation B for Special Purpose Credit Programs

This notice from the Consumer Financial Protection Bureau (CFPB) announces the rescission of a previous advisory opinion related to Regulation B and special purpose credit programs (SPCPs): - Government Buyer: - Consumer Financial Protection Bureau (CFPB) - No OEMs, vendors, or commercial products are mentioned - No products or services are being procured or awarded - Key Details: - The rescinded advisory opinion addressed how for-profit organizations could design and implement SPCPs under Regulation B (implementing the Equal Credit Opportunity Act) - The rescission is due to recent amendments to Regulation B, which now prohibit using race, color, national origin, or sex as eligibility criteria for SPCPs - The notice clarifies updated regulatory standards and aims to prevent confusion for organizations offering or participating in SPCPs - No contract value, period of performance, or procurement requirements are included in this notice

Description

The Consumer Financial Protection Bureau (CFPB) is rescinding an advisory opinion issued in December 2020 regarding Regulation B, which implements the Equal Credit Opportunity Act (ECOA). The rescission addresses special purpose credit programs (SPCPs) designed and implemented by for-profit organizations to meet special social needs. The advisory opinion is rescinded because it is outdated and inconsistent with recent amendments to Regulation B made in April 2026, which prohibit SPCPs from using race, color, national origin, or sex as eligibility criteria. The rescission aims to avoid confusion about the appropriate standards and conditions for SPCPs offered or participated in by for-profit organizations.

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