The Consumer Financial Protection Bureau issued an advisory opinion to address regulatory uncertainty regarding Regulation B related to special purpose credit programs to meet special social needs.
December 22, 2020 / By ICBA
The Consumer Financial Protection Bureau issued an advisory opinion to address regulatory uncertainty regarding Regulation B related to special purpose credit programs to meet special social needs.
The advisory clarifies what a for-profit organization must include in plans to establish and administer a SPCP as well as the type of research and data to help determine if it benefits a certain class of people.
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