Federal Agencies Revoke Credit Program Guidance Citing Discrimination Concerns

Eight federal agencies, including HUD, FDIC, and DOJ, have rescinded the 2022 Interagency Statement on Special Purpose Credit Programs. This action aims to prevent reliance on guidance that could lead to discriminatory activities, aligning with federal laws like the Equal Credit Opportunity Act and Fair Housing Act. Officials emphasize that credit decisions should be based on economic criteria, not protected characteristics, reflecting a shift in policy under President Trump's executive orders.