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Inactive Financial Institution Letters 

Equal Credit Opportunity Act

September 07, 1999

SUBJECT: Federal Reserve Board Proposes Revisions to Regulation B

The Board of Governors of the Federal Reserve System has issued for public comment the attached proposed revisions to Regulation B, which implements the Equal Credit Opportunity Act. The Board is also requesting comment on proposed revisions to the Staff Commentary on Regulation B.

The Federal Reserve Board proposes removing the general prohibition against the notation (but not the use) of certain prohibited basis information such as applicants' national origin or sex (§ 202.5). Other significant proposed revisions include:

  • Extending the record retention period for certain business credit applications (§ 202.12), and
  • Requiring record retention for preapproved credit solicitations (§ 202.12).
The Federal Reserve Board will accept written comments through November 10, 1999. Comments may be mailed to:

Jennifer J. Johnson, Secretary
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, NW
Washington, DC 20551

For more information about the proposed revisions, please contact the following staff members in the Federal Reserve Board's Division of Consumer and Community Affairs at 202-452-3667 or 202-452-2412: Staff Attorneys Natalie E. Taylor and Kathleen C. Ryan, Senior Attorney Jane Jensen Gell, or Senior Counsel Jane E. Ahrens.

You may also contact the following FDIC staff members for more information:

  • Robert Mooney, Senior Fair Lending Specialist in the Division of Compliance and Consumer Affairs, at 202-942-3378 (e-mail;
  • Ken Baebel, Senior Review Examiner in the Division of Compliance and Consumer Affairs, at 202-942-3086 (e-mail; or
  • Ann Johnson, Counsel in the Legal Division, at 202-898-3573 (e-mail

  Stephen M. Cross


Attachments: DCA Regional Office Listing
August16, 1999, Federal Register notice, Vol. 64, No. 157, pages 44582-44631
HTML Format  PDF Format (1,009 Kb - PDF help or hard copy)

Distribution: : FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institutions letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room100, Washington, DC 20434 (800-276-6003 or (703) 562-2200).

Last Updated 01/25/2006

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