For immediate release

The Federal Reserve Board today published for public comment proposed revisions to its Regulation B, Equal Credit Opportunity. Comment is requested by January 31, 1997. The proposed revisions would implement recent changes in the Equal Credit Opportunity Act that create a legal privilege for information developed by creditors as a result of "self-tests" that they voluntarily conduct to determine the level of their compliance with the Act. The Board expects to publish a final rule in March 1997, that would become effective 30 days later. The Board's notice is attached.

Summary only | Summary and proposed regulation (43 KB PDF)

1996 Banking and consumer regulatory policy