REG B - Equal Credit Opportunity

Bur. of Consumer Financial Protection

Pt. 1002, App. C

[76 FR 79445, Dec. 21, 2011, as amended at 82
FR 45694, Oct. 2, 2017]

requirements of § 1002.13(a)(1)(i)(B) and (ii).
All forms contained in this appendix are
models; their use by creditors is optional.

EFFECTIVE DATE NOTE: At 82 FR 45695, Oct.
2, 2017, appendix B to part 1002 was amended
by revising paragraph 1 and under paragraph
3 removing the form ‘‘Uniform Residential
Loan Application’’, effective Jan. 1, 2022. For
the convenience of the user, the revised text
is set forth as follows:

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APPENDIX C TO PART 1002—SAMPLE
NOTIFICATION FORMS
1. This Appendix contains ten sample notification forms. Forms C–1 through C–4 are
intended for use in notifying an applicant
that adverse action has been taken on an application or account under §§ 1002.9(a)(1) and
(2)(i) of this part. Form C–5 is a notice of disclosure of the right to request specific reasons for adverse action under §§ 1002.9(a)(1)
and (2)(ii). Form C–6 is designed for use in
notifying an applicant, under § 1002.9(c)(2),
that an application is incomplete. Forms C–
7 and C–8 are intended for use in connection
with applications for business credit under
§ 1002.9(a)(3). Form C–9 is designed for use in
notifying an applicant of the right to receive
a copy of appraisals under § 1002.14. Form C–
10 is designed for use in notifying an applicant for nonmortgage credit that the creditor is requesting applicant characteristic
information.
2. Form C–1 contains the Fair Credit Reporting Act disclosure as required by sections 615(a) and (b) of that act. Forms C–2
through C–5 contain only the section 615(a)

APPENDIX B TO PART 1002—MODEL
APPLICATION FORMS
1. This appendix contains four model credit
application forms, each designated for use in
a particular type of consumer credit transaction as indicated by the bracketed caption
on each form. The first sample form is intended for use in open-end, unsecured transactions; the second for closed-end, secured
transactions; the third for closed-end transactions, whether unsecured or secured; and
the fourth in transactions involving community property or occurring in community
property States. This appendix also contains
a data collection model form for collecting
information concerning an applicant’s ethnicity, race, and sex that complies with the
requirements of § 1002.13(a)(1)(i)(A) and (ii).
Appendix B to 12 CFR part 1003 provides a
data collection model form for collecting information concerning an applicant’s ethnicity, race, and sex that complies with the

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kpayne on VMOFRWIN702 with $$_JOB

Pt. 1002, App. C

12 CFR Ch. X (1–1–19 Edition)

disclosure (that a creditor obtained information from a consumer reporting agency that
was considered in the credit decision). A
creditor must provide the section 615(a) disclosure when adverse action is taken against
a consumer based on information from a consumer reporting agency. A creditor must
provide the section 615(b) disclosure when adverse action is taken based on information
from an outside source other than a consumer reporting agency. In addition, a creditor must provide the section 615(b) disclosure if the creditor obtained information
from an affiliate other than information in a
consumer report or other than information
concerning the affiliate’s own transactions
or experiences with the consumer. Creditors
may comply with the disclosure requirements for adverse action based on information in a consumer report obtained from an
affiliate by providing either the section
615(a) or section 615(b) disclosure. Optional
language in Forms C–1 through C–5 may be
used to direct the consumer to the entity
that provided the credit score for any questions about the credit score, along with the
entity’s contact information. Creditors may
use or not use this additional language without losing the safe harbor, since the language is optional.
3. The sample forms are illustrative and
may not be appropriate for all creditors.
They were designed to include some of the
factors that creditors most commonly consider. If a creditor chooses to use the checklist of reasons provided in one of the sample
forms in this appendix and if reasons commonly used by the creditor are not provided
on the form, the creditor should modify the
checklist by substituting or adding other
reasons. For example, if ‘‘inadequate down
payment’’ or ‘‘no deposit relationship with
us’’ are common reasons for taking adverse
action on an application, the creditor ought
to add or substitute such reasons for those
presently contained on the sample forms.
4. If the reasons listed on the forms are not
the factors actually used, a creditor will not
satisfy the notice requirement by simply
checking the closest identifiable factor listed. For example, some creditors consider
only references from banks or other depository institutions and disregard finance company references altogether; their statement
of reasons should disclose ‘‘insufficient bank
references,’’ not ‘‘insufficient credit references.’’ Similarly, a creditor that considers bank references and other credit references as distinct factors should treat the
two factors separately and disclose them as
appropriate. The creditor should either add
such other factors to the form or check
‘‘other’’ and include the appropriate explanation. The creditor need not, however, describe how or why a factor adversely affected
the application. For example, the notice may

say ‘‘length of residence’’ rather than ‘‘too
short a period of residence.’’
5. A creditor may design its own notification forms or use all or a portion of the
forms contained in this Appendix. Proper use
of Forms C–1 through C–4 will satisfy the requirement of § 1002.9(a)(2)(i). Proper use of
Forms C–5 and C–6 constitutes full compliance with §§ 1002.9(a)(2)(ii) and 1002.9(c)(2), respectively. Proper use of Forms C–7 and C–8
will
satisfy
the
requirements
of
§§ 1002.9(a)(2)(i) and (ii), respectively, for applications for business credit. Proper use of
Form C–9 will satisfy the requirements of
§ 1002.14 of this part. Proper use of Form C–10
will satisfy the requirements of § 1002.5(b)(1).
FORM C–1—SAMPLE NOTICE OF ACTION TAKEN
AND STATEMENT OF REASONS
Statement of Credit Denial, Termination or
Change
Date: llllllllllllllllllll
Applicant’s Name:
lllllllllllll
Applicant’s Address:
llllllllllll
Description of Account, Transaction, or Requested Credit: llllllllllllll
Description of Action Taken: llllllll
PART I—PRINCIPAL REASON(S) FOR CREDIT DENIAL, TERMINATION, OR OTHER ACTION
TAKEN CONCERNING CREDIT
This section must be completed in all instances.
llCredit application incomplete
llInsufficient number of credit references
provided
llUnacceptable type of credit references
provided
llUnable to verify credit references
llTemporary or irregular employment
llUnable to verify employment
llLength of employment
llIncome insufficient for amount of credit
requested
llExcessive obligations in relation to income
llUnable to verify income
llLength of residence
llTemporary residence
llUnable to verify residence
llNo credit file
llLimited credit experience
llPoor credit performance with us
llDelinquent past or present credit obligations with others
llCollection action or judgment
llGarnishment or attachment
llForeclosure or repossession
llBankruptcy
llNumber of recent inquiries on credit bureau report
llValue or type of collateral not sufficient
llOther, specify: lll

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Bur. of Consumer Financial Protection

Pt. 1002, App. C

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PART II—DISCLOSURE OF USE OF INFORMATION
OBTAINED FROM AN OUTSIDE SOURCE
This section should be completed if the credit
decision was based in whole or in part on information that has been obtained from an outside
source.
llOur credit decision was based in whole or
in part on information obtained in a report
from the consumer reporting agency listed
below. You have a right under the Fair Credit Reporting Act to know the information
contained in your credit file at the consumer
reporting agency. The reporting agency
played no part in our decision and is unable
to supply specific reasons why we have denied credit to you. You also have a right to
a free copy of your report from the reporting
agency, if you request it no later than 60
days after you receive this notice. In addition, if you find that any information contained in the report you receive is inaccurate
or incomplete, you have the right to dispute
the matter with the reporting agency.
Name: llllllllllllllllllll
Address: lllllllllllllllllll
[Toll-free] Telephone number: lllllll
[We also obtained your credit score from
the consumer reporting agency and used it in
making our credit decision. Your credit
score is a number that reflects the information in your consumer report. Your credit
score can change, depending on how the information in your consumer report changes.
Your credit score: llllllllllllll
Date: llllllllllllllllllll
Scores range from a low of llll to a
high of llll.
Key factors that adversely affected your
credit score:
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
[Number of recent inquiries on consumer report, as a key factor]
[If you have any questions regarding your
credit score, you should contact [entity that
provided the credit score] at:
Address: lllllllllllllllllll
[[Toll-free] Telephone number: llll]
llOur credit decision was based in whole or
in part on information obtained from an affiliate or from an outside source other than
a consumer reporting agency. Under the Fair
Credit Reporting Act, you have the right to
make a written request, no later than 60
days after you receive this notice, for disclosure of the nature of this information.
If you have any questions regarding this notice, you should contact:
Creditor’s name:
llllllllllllll
Creditor’s address:
lllllllllllll
Creditor’s telephone number: llllllll

Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis
of race, color, religion, national origin, sex,
marital status, age (provided the applicant
has the capacity to enter into a binding contract); because all or part of the applicant’s
income derives from any public assistance
program; or because the applicant has in
good faith exercised any right under the Consumer Credit Protection Act. The Federal
agency that administers compliance with
this law concerning this creditor is (name
and address as specified by the appropriate
agency listed in appendix A).
FORM C–2—SAMPLE NOTICE OF ACTION TAKEN
AND STATEMENT OF REASONS
Date
Dear Applicant: Thank you for your recent
application. Your request for [a loan/a credit
card/an increase in your credit limit] was
carefully considered, and we regret that we
are unable to approve your application at
this time, for the following reason(s):
Your Income:
llis below our minimum requirement.
llis insufficient to sustain payments on
the amount of credit requested.
llcould not be verified.
Your Employment:
llis not of sufficient length to qualify.
llcould not be verified.
Your Credit History:
llof making payments on time was not satisfactory.
llcould not be verified.
Your Application:
lllacks a sufficient number of credit references.
lllacks acceptable types of credit references.
llreveals that current obligations are excessive in relation to income.
Other: llllllllllllllllllll
The consumer reporting agency contacted
that provided information that influenced
our decision in whole or in part was [name,
address and [toll-free] telephone number of
the reporting agency]. The reporting agency
played no part in our decision and is unable
to supply specific reasons why we have denied credit to you. You have a right under
the Fair Credit Reporting Act to know the
information contained in your credit file at
the consumer reporting agency. You also
have a right to a free copy of your report
from the reporting agency, if you request it
no later than 60 days after you receive this
notice. In addition, if you find that any information contained in the report you receive is inaccurate or incomplete, you have
the right to dispute the matter with the reporting agency. Any questions regarding

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Pt. 1002, App. C

12 CFR Ch. X (1–1–19 Edition)

such information should be directed to [consumer reporting agency]. If you have any
questions regarding this letter, you should
contact us at [creditor’s name, address and
telephone number].
[We also obtained your credit score from
the consumer reporting agency and used it in
making our credit decision. Your credit
score is a number that reflects the information in your consumer report. Your credit
score can change, depending on how the information in your consumer report changes.
Your credit score: llllllllllllll
Date: llllllllllllllllllll
Scores range from a low of llll to a
high of llll.
Key factors that adversely affected your
credit score:
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
[Number of recent inquiries on consumer report, as a key factor]
[If you have any questions regarding your
credit score, you should contact [entity that
provided the credit score] at:
Address: lllllllllllllllllll
[[Toll-free] Telephone number: llll]
Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis
of race, color, religion, national origin, sex,
marital status, age (provided the applicant
has the capacity to enter into a binding contract); because all or part of the applicant’s
income derives from any public assistance
program; or because the applicant has in
good faith exercised any right under the Consumer Credit Protection Act. The Federal
agency that administers compliance with
this law concerning this creditor is (name
and address as specified by the appropriate
agency listed in appendix A).

kpayne on VMOFRWIN702 with $$_JOB

FORM C–3—SAMPLE NOTICE OF ACTION TAKEN
AND STATEMENT OF REASONS (CREDIT SCORING)

•
•
•
•

Insufficient bank references
Type of occupation
Insufficient credit experience
Number of recent inquiries on credit bureau report

[Your Right to Get Your Consumer Report]
In evaluating your application the consumer reporting agency listed below provided us with information that in whole or in
part influenced our decision. The consumer
reporting agency played no part in our decision and is unable to supply specific reasons
why we have denied credit to you. You have
a right under the Fair Credit Reporting Act
to know the information contained in your
credit file at the consumer reporting agency.
It can be obtained by contacting: [Name, address, and [toll-free] telephone number of the
consumer reporting agency]. You also have a
right to a free copy of your report from the
reporting agency, if you request it no later
than 60 days after you receive this notice. In
addition, if you find that any information
contained in the report you receive is inaccurate or incomplete, you have the right to
dispute the matter with the reporting agency.
[Information about Your Credit Score]
[Information about Your Credit Score]
We also obtained your credit score from
the consumer reporting agency and used it in
making our credit decision. Your credit
score is a number that reflects the information in your consumer report. Your credit
score can change, depending on how the information in your consumer report changes.
Your credit score: llllllllllllll
Date: llllllllllllllllllll
Scores range from a low of llll to a
high of llll.
Key factors that adversely affected your
credit score:
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
[Number of recent inquiries on consumer report, as a key factor]

Date
Dear Applicant: Thank you for your recent
application for lllll. We regret that we
are unable to approve your request.
[Reasons for Denial of Credit]
Your application was processed by a [credit
scoring] system that assigns a numerical
value to the various items of information we
consider in evaluating an application. These
numerical values are based upon the results
of analyses of repayment histories of large
numbers of customers.
The information you provided in your application did not score a sufficient number of
points for approval of the application. The
reasons you did not score well compared
with other applicants were:

[If you have any questions regarding your
credit score, you should contact [entity that
provided the credit score] at:
Address: lllllllllllllllllll
[Toll-free] Telephone number: llll]
If you have any questions regarding this
letter, you should contact us at
Creditor’s Name: llllllllllllll
Address: lllllllllllllllllll
Telephone:
lllllllllllllllll
Sincerely,
Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis
of race, color, religion, national origin, sex,

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Bur. of Consumer Financial Protection

Pt. 1002, App. C

marital status, age (with certain limited exceptions); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has
in good faith exercised any right under the
Consumer Credit Protection Act. The Federal agency that administers compliance
with this law concerning this creditor is
(name and address as specified by the appropriate agency listed in appendix A).

kpayne on VMOFRWIN702 with $$_JOB

FORM C–4—SAMPLE NOTICE OF ACTION TAKEN,
STATEMENT OF REASONS AND COUNTEROFFER
Date
Dear Applicant: Thank you for your application for lllll. We are unable to offer
you credit on the terms that you requested
for the following reason(s):lllll
We can, however, offer you credit on the
following terms: lllll
If this offer is acceptable to you, please notify us within [amount of time] at the following address: lllll.
Our credit decision on your application
was based in whole or in part on information
obtained in a report from [name, address and
[toll-free] telephone number of the consumer
reporting agency]. You have a right under
the Fair Credit Reporting Act to know the
information contained in your credit file at
the consumer reporting agency. The reporting agency played no part in our decision
and is unable to supply specific reasons why
we have denied credit to you. You also have
a right to a free copy of your report from the
reporting agency, if you request it no later
than 60 days after you receive this notice. In
addition, if you find that any information
contained in the report you receive is inaccurate or incomplete, you have the right to
dispute the matter with the reporting agency.
[We also obtained your credit score from
the consumer reporting agency and used it in
making our credit decision. Your credit
score is a number that reflects the information in your consumer report. Your credit
score can change, depending on how the information in your consumer report changes.
Your credit score: llllllllllllll
Date: llllllllllllllllllll
Scores range from a low of llll to a
high of llll.
Key factors that adversely affected your
credit score:
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
[Number of recent inquiries on consumer report, as a key factor]
[If you have any questions regarding your
credit score, you should contact [entity that
provided the credit score] at:
Address: lllllllllllllllllll
[Toll-free] Telephone number:llll]

You should know that the Federal Equal
Credit Opportunity Act prohibits creditors,
such as ourselves, from discriminating
against credit applicants on the basis of
their race, color, religion, national origin,
sex, marital status, age (provided the applicant has the capacity to enter into a binding
contract), because they receive income from
a public assistance program, or because they
may have exercised their rights under the
Consumer Credit Protection Act. If you believe there has been discrimination in handling your application you should contact
the [name and address of the appropriate
Federal enforcement agency listed in appendix A].
Sincerely,
FORM C–5—SAMPLE DISCLOSURE OF RIGHT TO
REQUEST SPECIFIC REASONS FOR CREDIT DENIAL

Date
Dear Applicant: Thank you for applying to
us for lllll.
After carefully reviewing your application,
we are sorry to advise you that we cannot
[open an account for you/grant a loan to you/
increase your credit limit] at this time. If
you would like a statement of specific reasons why your application was denied, please
contact [our credit service manager] shown
below within 60 days of the date of this letter. We will provide you with the statement
of reasons within 30 days after receiving
your request.
Creditor’s name
Address
Telephone number
If we obtained information from a consumer reporting agency as part of our consideration of your application, its name, address, and [toll-free] telephone number is
shown below. The reporting agency played
no part in our decision and is unable to supply specific reasons why we have denied credit to you. [You have a right under the Fair
Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency.] You have a right to
a free copy of your report from the reporting
agency, if you request it no later than 60
days after you receive this notice. In addition, if you find that any information contained in the report you received is inaccurate or incomplete, you have the right to
dispute the matter with the reporting agency. You can find out about the information
contained in your file (if one was used) by
contacting:
Consumer reporting agency’s name
Address
[Toll-free] Telephone number
[We also obtained your credit score from
the consumer reporting agency and used it in
making our credit decision. Your credit

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Pt. 1002, App. C

12 CFR Ch. X (1–1–19 Edition)

score is a number that reflects the information in your consumer report. Your credit
score can change, depending on how the information in your consumer report changes.
Your credit score: llllllllllllll
Date: llllllllllllllllllll
Scores range from a low of llll to a
high of llll.
Key factors that adversely affected your
credit score:
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
llllllllllllllllllllllll
[Number of recent inquiries on consumer report, as a key factor]
[If you have any questions regarding your
credit score, you should contact [entity that
provided the credit score] at:
Address: lllllllllllllllllll
[Toll-free] Telephone number: llll]
Sincerely,
Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis
of race, color, religion, national origin, sex,
marital status, age (provided the applicant
has the capacity to enter into a binding contract); because all or part of the applicant’s
income derives from any public assistance
program; or because the applicant has in
good faith exercised any right under the Consumer Credit Protection Act. The Federal
agency that administers compliance with
this law concerning this creditor is (name
and address as specified by the appropriate
agency listed in appendix A).
FORM C–6—SAMPLE NOTICE OF INCOMPLETE
APPLICATION AND REQUEST FOR ADDITIONAL
INFORMATION
Creditor’s name
Address
Telephone number
Date
Dear Applicant: Thank you for your application for credit. The following information
is needed to make a decision on your application: lllll
We need to receive this information by
lllll (date). If we do not receive it by
that date, we will regrettably be unable to
give further consideration to your credit request.
Sincerely,

kpayne on VMOFRWIN702 with $$_JOB

FORM C–7—SAMPLE NOTICE OF ACTION TAKEN
AND STATEMENT OF REASONS (BUSINESS
CREDIT)

unable to extend credit to you at this time
for the following reasons:
(Insert appropriate reason, such as: Value
or type of collateral not sufficient; Lack of
established earnings record; Slow or past due
in trade or loan payments)
Sincerely,
Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis
of race, color, religion, national origin, sex,
marital status, age (provided the applicant
has the capacity to enter into a binding contract); because all or part of the applicant’s
income derives from any public assistance
program; or because the applicant has in
good faith exercised any right under the Consumer Credit Protection Act. The Federal
agency that administers compliance with
this law concerning this creditor is [name
and address as specified by the appropriate
agency listed in appendix A].
FORM C–8—SAMPLE DISCLOSURE OF RIGHT TO
REQUEST SPECIFIC REASONS FOR CREDIT DENIAL GIVEN AT TIME OF APPLICATION (BUSINESS CREDIT)
Creditor’s name
Creditor’s address
If your application for business credit is
denied, you have the right to a written statement of the specific reasons for the denial.
To obtain the statement, please contact
[name, address and telephone number of the
person or office from which the statement of
reasons can be obtained] within 60 days from
the date you are notified of our decision. We
will send you a written statement of reasons
for the denial within 30 days of receiving
your request for the statement.
Notice: The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis
of race, color, religion, national origin, sex,
marital status, age (provided the applicant
has the capacity to enter into a binding contract); because all or part of the applicant’s
income derives from any public assistance
program; or because the applicant has in
good faith exercised any right under the Consumer Credit Protection Act. The Federal
agency that administers compliance with
this law concerning this creditor is [name
and address as specified by the appropriate
agency listed in appendix A].
FORM C–9—SAMPLE DISCLOSURE OF RIGHT TO
RECEIVE A COPY OF APPRAISALS
We may order an appraisal to determine
the property’s value and charge you for this
appraisal. We will promptly give you a copy
of any appraisal, even if your loan does not
close.
You can pay for an additional appraisal for
your own use at your own cost.

Creditor’s name
Creditor’s address
Date
Dear Applicant: Thank you for applying to
us for credit. We have given your request
careful consideration, and regret that we are

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Bur. of Consumer Financial Protection

Pt. 1002, Supp. I

[In your letter, give us the following information:]

terpretation issued by a duly authorized official of the Bureau. This commentary is the
means by which the Bureau of Consumer Financial Protection issues official interpretations of Regulation B. Good-faith compliance
with this commentary affords a creditor protection under section 706(e) of the Act.
2. Issuance of interpretations. Under appendix D to the regulation, any person may request an official interpretation. Interpretations will be issued at the discretion of designated officials and incorporated in this
commentary following publication for comment in the FEDERAL REGISTER. Except in
unusual circumstances, official interpretations will be issued only by means of this
commentary.
3. Comment designations. The comments are
designated with as much specificity as possible according to the particular regulatory
provision addressed. Each comment in the
commentary is identified by a number and
the regulatory section or paragraph that it
interprets. For example, comments to
§ 1002.2(c) are further divided by subparagraph, such as comment 2(c)(1)(ii)–1 and comment 2(c)(2)(ii–1.

FORM C–10—SAMPLE DISCLOSURE ABOUT
VOLUNTARY DATA NOTATION
We are requesting the following information to monitor our compliance with the
Federal Equal Credit Opportunity Act, which
prohibits unlawful discrimination. You are
not required to provide this information. We
will not take this information (or your decision not to provide this information) into account in connection with your application or
credit transaction. The law provides that a
creditor may not discriminate based on this
information, or based on whether or not you
choose to provide it. [If you choose not to
provide the information, we will note it by
visual observation or surname].
[76 FR 79445, Dec. 21, 2011, as amended at 78
FR 7248, Jan. 31, 2013]

APPENDIX D TO PART 1002—ISSUANCE OF
OFFICIAL INTERPRETATIONS
1.Official Interpretations. Interpretations of
this part issued by officials of the Bureau
provide the protection afforded under section
706(e) of the Act. Except in unusual circumstances, such interpretations will not be
issued separately but will be incorporated in
an official commentary to the regulation,
which will be amended periodically.
2. Requests for Issuance of Official Interpretations. A request for an official interpretation
should be in writing and addressed to the Assistant Director, Office of Regulations, Division of Research, Markets, and Regulations,
Bureau of Consumer Financial Protection,
1700 G Street, NW., Washington, DC 20006.
The request should contain a complete statement of all relevant facts concerning the
issue, including copies of all pertinent documents.
3. Scope of Interpretations. No interpretations will be issued approving creditors’
forms or statements. This restriction does
not apply to forms or statements whose use
is required or sanctioned by a government
agency.

Section 1002.1—Authority, Scope, and Purpose
1(a) Authority and scope.
1. Scope. The Equal Credit Opportunity Act
and Regulation B apply to all credit—commercial as well as personal—without regard
to the nature or type of the credit or the
creditor, except for an entity excluded from
coverage of this part (but not the Act) by
section 1029 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5519). If a transaction provides for the deferral of the payment of a debt, it is credit covered by Regulation B even though it may not be a credit
transaction covered by Regulation Z (Truth
in Lending) (12 CFR part 1026). Further, the
definition of creditor is not restricted to the
party or person to whom the obligation is
initially payable, as is the case under Regulation Z. Moreover, the Act and regulation
apply to all methods of credit evaluation,
whether performed judgmentally or by use of
a credit scoring system.
2. Foreign applicability. Regulation B generally does not apply to lending activities
that occur outside the United States. The
regulation does apply to lending activities
that take place within the United States (as
well as the Commonwealth of Puerto Rico
and any territory or possession of the United
States), whether or not the applicant is a
citizen.
3. Bureau. The term Bureau, as used in this
part, means the Bureau of Consumer Financial Protection.

SUPPLEMENT I TO PART 1002—OFFICIAL
INTERPRETATIONS
Following is an official interpretation of
Regulation B (12 CFR part 1002) issued by the
Bureau of Consumer Financial Protection.
References are to sections of the regulation
or the Equal Credit Opportunity Act (15
U.S.C. 1601 et seq.).

kpayne on VMOFRWIN702 with $$_JOB

INTRODUCTION
1.Official status. Section 706(e) of the Equal
Credit Opportunity Act protects a creditor
from civil liability for any act done or omitted in good faith in conformity with an in-

Section 1002.2—Definitions
2(c) Adverse action.
Paragraph 2(c)(1)(i).

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