Seven federal agencies have withdrawn a 2022 policy statement that encouraged banks and other creditors to use special purpose credit programs to expand access to financing for underserved groups. The rescission took effect August 25, 2026, and affects guidance involving the Equal Credit Opportunity Act, commonly called ECOA, and its implementing rule, Regulation B.
The change does not eliminate special purpose credit programs altogether. Instead, it removes the agencies’ 2022 interagency statement and comes after a separate 2026 change to Regulation B that narrowed how certain characteristics can be used in these programs.
