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Regulation B - Equal Credit Opportunity
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December 31, 1997
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| Circular No. 11011 | |
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Effective January 30, 1998 To All Depository Institutions and Others Concerned in the Second Federal Reserve District: The following is from a statement by the Board of Governors of the Federal Reserve System: The Federal Reserve Board has announced publication of revised regulations under the Equal Credit Opportunity Act, Regulation B, to implement legislation creating a legal privilege for the results of "self-tests" that creditors voluntarily conduct to determine the level of their compliance with the Act. The Department of Housing and Urban Development is issuing a substantially similar regulation under the Fair Housing Act. The revisions are effective January 30, 1998. The self-testing privilege applies only if the creditor takes appropriate corrective action to address possible discrimination found in the self-test. A copy of the amendment to Regulation B, as published in the Federal Register of December 18 is available as a file (pdf - 72kb).
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