usc 15 § 1691b
Promulgation of regulations by the Bureau (COMMERCE AND TRADE (15 U.S.C.))
Operative Text
The Bureau shall prescribe regulations to carry out the purposes of this subchapter. These regulations may contain but are not limited to such classifications, differentiation, or other provision, and may provide for such adjustments and exceptions for any class of transactions, as in the judgment of the Bureau are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion thereof, or to facilitate or substantiate compliance therewith. Such regulations may exempt from the provisions of this subchapter any class of transactions that are not primarily for personal, family, or household purposes, or business or commercial loans made available by a financial institution, except that a particular type within a class of such transactions may be exempted if the Bureau determines, after making an express finding that the application of this subchapter or of any provision of this subchapter of such transaction would not contribute substantially to effecting the purposes of this subchapter. An exemption granted pursuant to subsection (b) shall be for no longer than five years and shall be extended only if the Bureau makes a subsequent determination, in the manner described by such paragraph, that such exemption remains appropriate. Pursuant to Bureau regulations, entities making business or commercial loans shall maintain such records or other data relating to such loans as may be necessary to evidence compliance with this subsection or enforce any action pursuant to the authority of this chapter. In no event shall such records or data be maintained for a period of less than one year. The Bureau shall promulgate regulations to implement this paragraph in the manner prescribed by chapter 5 of title 5. The Bureau shall provide in regulations that an applicant for a business or commercial loan shall be provided a written notice of such applicant’s right to receive a written statement of the reasons for the denial of such loan. Notwithstanding subsection (a), the Board shall prescribe regulations to carry out the purposes of this subchapter with respect to a person described in . These regulations may contain but are not limited to such classifications, differentiation, or other provision, and may provide for such adjustments and exceptions for any class of transactions, as in the judgment of the Board are necessary or proper to effectuate the purposes of this subchapter, to prevent circumvention or evasion thereof, or to facilitate or substantiate compliance therewith. Notwithstanding any power granted to any Federal agency under this subchapter, the deference that a court affords to a Federal agency with respect to a determination made by such agency relating to the meaning or interpretation of any provision of this subchapter that is subject to the jurisdiction of such agency shall be applied as if that agency were the only agency authorized to apply, enforce, interpret, or administer the provisions of this subchapter
15 U.S.C. § 1691b grants the Consumer Financial Protection Bureau (and, in certain cases, the Board) the authority to write and update the rules that implement the Equal Credit Opportunity Act. Those rules can create categories, exceptions, and adjustments as needed to fulfill the law's anti-discrimination purposes, and they can exempt certain business or commercial loan transactions from coverage under defined conditions and time limits. Lenders making business or commercial loans are required under this provision to keep records demonstrating compliance for at least one year, and applicants denied such loans must receive written notice of their right to a written explanation of the denial.
Plain English — not legal advice.
Property owners and managers who seek business or commercial financing—or who extend such credit—should be aware that 15 U.S.C. § 1691b directs the CFPB to issue implementing regulations that govern how equal credit opportunity requirements apply to those transactions. Compliant operators generally maintain records related to business or commercial loans for no less than one year, as the Bureau's regulations require. When a business or commercial loan application is denied, operators subject to this provision are generally expected to provide the applicant with written notice of their right to receive a written statement of the reasons for that denial.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
While 15 U.S.C. § 1691b primarily addresses regulatory authority and business lending procedures, it sits within the Equal Credit Opportunity Act framework that broadly protects credit applicants from discrimination. If you applied for a business or commercial loan and were denied, this provision establishes that you have a right to written notice of your right to receive a written explanation for that denial. Tenants or small landlords who believe their credit rights under this framework were violated may consider consulting a tenant-rights organization, a HUD-approved housing counselor, or filing a complaint with the CFPB for guidance on available options.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated September 13, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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