WASHINGTON, DC—Four federal agencies will discuss the availability of the Special Purpose Credit Program (SPCP) to meet the credit needs of eligible individuals in a roundtable discussion on September 12, 2023 at 3:00 PM EDT will be held. The event will be open to the public via livestream.
The event will feature U.S. Department of Housing and Urban Development Secretary Marcia L. Fudge, Acting Comptroller of the Currency Michael J. Hsu, Federal Housing Finance Agency Director Sandra L. Thompson, and Consumer Financial Protection Bureau Chief Rohit Chopra. I plan to. The event will also include a roundtable discussion with representatives from community groups and industry associations focused on the opportunities and benefits of SPCP.
SPCP is a long-established tool that is permitted under the Equal Credit Opportunity Act (ECOA) and Regulation B. The SPCP helps creditors expand responsible credit access to economically and socially disadvantaged consumers and commercial businesses. With proper planning, development, and implementation, lenders can use ECOA- and Regulation B-permitted SPCPs to address critical credit needs in underserved communities.
Click here to learn how to participate via livestream.
