§ 1002.101. Authority, purpose, and scope.
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/us/cfr/t12/s§ 1002.101·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Authority and scope. This subpart to Regulation B is issued by the Bureau pursuant to section 704B of the Equal Credit Opportunity Act (15 U.S.C. 1691c-2). Except as otherwise provided herein, this subpart applies to covered financial institutions, as defined in § 1002.105(b), other than a person excluded from coverage of this part by section 1029 of the Consumer Financial Protection Act of 2010, title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111-203, 124 Stat. 1376, 2004 (2010).
(b)Purpose. This subpart implements section 704B of the Equal Credit Opportunity Act, which Congress intended:
(1)To facilitate enforcement of fair lending laws; and
(2)To enable communities, governmental entities, and creditors to identify business and community development needs and opportunities of women-owned, minority-owned, and small businesses.
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- Pub. L. 111-203
- 124 Stat. 1376
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