Interagency Rescission of the Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B
Why It Matters
Official HUD regulatory action affecting compliance rules, subsidy disbursements, or operational standards for assisted housing.
Who Is Affected
Affordable Housing Owners, Operators, and Property Managers
FDIC, NCUA, OCC, CFPB, HUD, DOJ, and FHFA (collectively, the agencies) are issuing this notice to inform the public of the rescission of the "Interagency Statement on Special Purpose Credit Programs Under the Equal Credit Opportunity Act and Regulation B" (Interagency Statement), dated February 22, 2022. The agencies are rescinding the Interagency Statement to make clear that (1) creditors may not discriminate against borrowers based on prohibited characteristics and (2) creditors should not rely upon the Interagency Statement or other related issuances going forward.
Required Action Items
Official Source: Federal Register (HUD) • Relevant to affordable housing operators, compliance teams, and asset managers.
Source Verification & References (1)
- Federal Register (HUD)primary
This one's already a quick read — shorter than my summary would be.