Special Purpose Credit Programs: Rescission of Interagency Statement
AI Analysis
On August 25, 2026, the OCC and six other federal agencies rescinded the 2022 Interagency Statement on Special Purpose Credit Programs and OCC Bulletin 2022-3. The rescission removes that guidance as a reference point and emphasizes that special purpose credit programs must not discriminate on prohibited bases under the Equal Credit Opportunity Act, Regulation B, and, where applicable, the Fair Housing Act.
Key dates
- 2026-04-22
- The CFPB published a final rule amending Regulation B provisions concerning special purpose credit programs, including new restrictions applicable to programs offered or participated in by for-profit organizations.
- 2026-07-21
- The CFPB's Regulation B amendments became effective. For-profit special purpose credit programs offered or participated in on or after this date must comply with the amended requirements, including the prohibition on using race, color, national origin, or sex as a common eligibility criterion.
- 2026-08-25
- The seven agencies rescinded the 2022 interagency statement and OCC Bulletin 2022-3, effective immediately. Creditors should no longer rely on those issuances or related guidance.
Suggested considerations
- Compliance teams may wish to inventory special purpose credit programs, marketing, eligibility criteria, underwriting policies, written plans, and monitoring practices that were developed or supported by the 2022 interagency statement, OCC Bulletin 2022-3, or related guidance.
- Firms should consider reassessing any program that uses race, color, national origin, or sex as a common eligibility criterion, particularly for credit extended on or after July 21, 2026, against 12 CFR 1002.8 as amended.
- For-profit creditors may wish to confirm that each written special purpose credit program plan contains evidence of need, explains why the relevant class would not receive credit under the organization's ordinary creditworthiness standards, and supports any eligibility characteristic used by the program.
- Compliance teams may wish to remove rescinded guidance from policies, procedures, training materials, legal inventories, product governance documents, and examiner-facing materials, while retaining records needed to explain prior program design and implementation.
- Firms should consider reviewing program communications and applicant data practices for potential discrimination or misleading reliance on the rescinded statement, including communications suggesting that protected-class distinctions are broadly authorized.
- Banks and credit unions may wish to brief fair-lending, legal, product, underwriting, marketing, and model-risk stakeholders and document the governance decision regarding whether each program should be amended, suspended, or continued under current law.
What changed
The 2022 interagency statement and OCC Bulletin 2022-3 are rescinded, effective immediately, and creditors are instructed not to rely on those issuances or related guidance. The rescission does not eliminate the statutory or regulatory framework for special purpose credit programs under ECOA and Regulation B, including 12 CFR 1002.8; rather, it clarifies that those programs remain subject to applicable fair-lending prohibitions. The agencies specifically identify the prior version of Regulation B referenced by the 2022 statement as having been amended. Under the CFPB's Regulation B amendments effective July 21, 2026, for-profit organizations may not use race, color, national origin, or sex as a common eligibility criterion for a special purpose credit program, and written plans generally m
Compliance impact
The rescission creates a meaningful fair-lending and product-governance risk for creditors whose special purpose credit programs relied on the withdrawn guidance, although it does not itself create a new statutory prohibition or abolish Regulation B's special purpose credit program provisions. Regulatory and litigation exposure may increase where a program uses prohibited characteristics, lacks th
Who is affected
Related regulations
References
AI-generated analysis. May contain errors or omissions — verify with the original OCC source before acting. Full disclaimer.
What the OCC said
The Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, National Credit Union Administration, Consumer Financial Protection Bureau, Department of Housing and Urban Development, Department of Justice, and Federal Housing Finance Agency are rescinding the "Interagency Statement on Special…
Extract from OCC . Read the full notice at the source for the authoritative text.