The CFPB’s Reg B Proposal: Key Changes and Industry Impact

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Today’s podcast brings listeners a timely and insightful discussion as our panel examines the CFPB’s proposed amendments to Regulation B under the Equal Credit Opportunity Act (ECOA). As our regular listeners know, we released an episode yesterday, and we are providing this additional special episode in light of a development we consider both time-sensitive and exceptionally important.

The discussion is hosted by Alan Kaplinsky, Senior Counsel, founder and former chair for 25 years of Ballard Spahr’s Consumer Financial Services Group, and features these distinguished experts in the field:

• Bradley Blower, Founder of Inclusive Partners LLC.

• John Culhane, Jr., Senior Partner and charter member of Ballard Spahr’s fair lending team.

• Richard Andreano, Jr., Practice Group Leader for Ballard Spahr’s Mortgage Banking Group and the head of Ballard Spahr’s fair lending team. 

Together, the panel takes listeners through the sweeping changes proposed to Reg B, including the elimination of the longstanding disparate impact provisions, significant revisions to discouragement standards, and new limitations on special purpose credit programs for for-profit entities. The conversation covers the legal and political motivations behind the proposal, references to recent Supreme Court decisions, and the implications for lenders, regulators, and consumers. The group also addresses the unusually short 30-day comment period and speculates on why the CFPB may be moving quickly to finalize the rule. Tune in for expert analysis, must-know takeaways, and predictions about industry impact and possible legal challenges. This episode is essential listening for anyone invested in the future of consumer financial services and fair lending.

We encourage listeners to subscribe to the podcast on their preferred platform for weekly insights into developments in the consumer finance industry.

A recording transcript will be available soon. 

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