Five months after collecting 64,518 public comments, the Consumer Financial Protection Bureau (CFPB) is preparing to issue a final rule on Wednesday that is essentially the same as the version that was released for review.
The final rule will “amend provisions related to disparate impact,” transforming the enforcement of the Equal Credit Opportunity Act (ECOA) and restricting special purpose credit programs (SPCPs), which are programs designed to increase credit access to historically disadvantaged individuals and communities.
One industry source told Scotsman Guide they expect the consumer advocate community to be “irate about this proposal,” especially since it was finalized without apparent change from its proposed version. 
“It wil...