CFPB Significantly Revises Equal Credit Opportunity Act Rule, Regulation B

On April 18, the Consumer Financial Protection Bureau (CFPB) finalized their proposed rule to amend Regulation B, the promulgating rule tied to the Equal Credit Opportunity Act (ECOA). The Final Rule did not veer far from the proposed rule, even though the CFPB received approximately 64,500 comments on the proposed rule.... By: Cadwalader, Wickersham & Taft LLP