A Sept. 12 roundtable discussion on special purpose credit programs (SPCPs) to help meet the credit needs of eligible individuals will include remarks from, among others, the leaders from the national bank regulatory agency, two housing agencies and the federal agency charged with consumer financial protection.
SPCPs, according to a release issued by the agencies Thursday, are a long-established tool permitted under the Equal Credit Opportunity Act (ECOA) and Regulation B. “SPCPs can help creditors expand responsible credit access to economically or socially disadvantaged consumers and commercial enterprises,” they said. “With proper planning, development, and implementation, lenders can use SPCPs as permitted under ECOA and Regulation B to help address the critical credit needs of underserved communities.”
The OCC’s website shows the Sept. 12 discussion will include representatives from the Mortgage Bankers Association, the Urban Institute, the Center for Responsible Lending, and the National Association of Realtors. Marcia Fudge, Secretary of Housing and Urban Development (HUD), Michael Hsu, Acting Comptroller of the Currency, Sandra Thompson, Federal Housing Finance Agency (FHFA) Director, and Rohit Chopra, Consumer Financial Protection Bureau (CFPB) Director, will also give remarks, the agency said.
This event is slated for 3 p.m. Eastern and will be accessible to the public via livestream, the agencies said; a link will be available beginning at 2 p.m.