Lenders can now offer special credit programs to specific groups without fear of discrimination lawsuits

The Consumer Financial Protection Bureau is proposing new rules for how lenders can offer credit to specific groups of people. This means banks can create programs to help underserved communities get loans without being accused of discrimination.

For decades, lenders worried that offering special credit to certain groups, even to help them, could lead to lawsuits for discriminating against others. This proposal clarifies when such programs are legal. It could unlock new ways for banks to serve communities that have historically struggled to get loans.