Consumer Compliance Outlook: First Issue 2024

Consumer Compliance Requirements for Commercial Products and Services

By Kathleen Benson, Lead Examiner, Federal Reserve Bank of Chicago, Kenneth Benton, Principal Consumer Regulations Specialist, Federal Reserve Bank of Philadelphia, and Laura L. Gleason, Senior Specialist, Federal Reserve Bank of Philadelphia

The term “federal consumer protection laws” suggests their scope is limited to consumer products and services. However, some of these laws ­­— such as the Equal Credit Opportunity Act, the Flood Disaster Protection Act, and the Servicemembers Civil Relief Act — also ­apply to commercial products and services. In addition, other federal consumer protection laws, although generally limited in scope to consumer products and services, include certain provisions that also apply to commercial products and services. For example, Regulation Z (the implementing regulation for the Truth in Lending Act) includes certain requirements for business-purpose credit cards.

Lenders may be overlooking commercial and agricultural lending compliance issues if the primary focus of their loan compliance program is on the consumer side. To facilitate commercial loan compliance, Consumer Compliance Outlook (CCO) reviewed the various laws and regulations that apply to commercial lending in a 2015 article.1 Because several changes have occurred in this space since 2015, we are publishing this updated article.


The Equal Credit Opportunity Act (ECOA), as implemented by Regulation B, prohibits discrimination on a prohibited basis in any aspect of a credit transaction. Prohibited bases under the ECOA are: race, color, religion, national origin, sex, marital status, or age (provided that the applicant has the capacity to enter into a binding contract); the applicant’s income being derived from public assistance; or the applicant’s exercise in good faith of any right under the Consumer Credit Protection Act or any state law upon which an exemption has been granted by the Consumer Financial Protection Bureau (CFPB).2 The ECOA and Regulation B apply to both consumer and commercial credit transactions, with limited exceptions.3

Prohibited Basis of Sex Includes Sexual Orientation and Gender Identity

The Supreme Court ruled in Bostock v. Clayton County, 590 U.S. 644 (2020), that the federal law prohibiting discrimination in employment based on a person’s sex includes gender identity and sexual orientation. Following this decision, the President issued Executive Order 13998 in January 2021, directing certain federal agencies with regulatory authority for sex discrimination to review their agency procedures and determine whether actions should be taken to align them with the Bostock decision. Subsequently, the CFPB issued an interpretive rule clarifying that the ECOA and Regulation B apply to discrimination in credit transactions based on a person’s sexual orientation and/or gender identity.4 The rule also provided guidance to clarify the requirements.5

In light of this change, lenders can help to mitigate this risk by updating their policies and procedures to align with the change. For example, many lenders include a statement of nondiscrimination in their loan policy, loan advertisements, and applicant disclosures, and on their websites to reflect the ECOA’s requirements. Lenders can update these documents to indicate they do not discriminate on the basis of sex, including sexual orientation or gender identity. Lenders can also conduct staff training on this issue.

Adverse Action Notification Requirements to Business Credit Applicants

Although the ECOA and Regulation B apply to both consumer and business credit applicants, the notice requirements vary when credit is extended to a business.6 For business credit applicants that had $1 million or less in gross revenues during the prior fiscal year, the timing requirements and the contents of the notices are the same as for consumer applicants, although financial institutions may notify the applicants of the adverse action either orally or in writing.7 Additionally, a creditor has the option of disclosing at application (instead of after adverse action is taken) the right to request the reasons for the action taken, provided that this disclosure includes the ECOA notice and the applicants’ right to a statement of specific reasons for the action taken.8

For business credit applicants that had more than $1 million in gross revenues, creditors must notify applicants of adverse actions orally or in writing within a reasonable time, as opposed to the 30-day requirement for consumer credit applicants and business credit applicants with $1 million or less in gross revenues. Creditors must provide a written statement of the reasons for adverse action and the ECOA notice if the applicant makes a written request within 60 days of the creditor’s notification.9 For the general requirements of adverse action, please refer to the CCO article “Adverse Action Notice Requirements Under the ECOA and the FCRA,” by Sarah Ammermann (Second Quarter 2013).

Adverse Action Notification When Alternative Credit Data Are Used

Providing an adverse action notice (AAN) when a credit decision is based on alternative data can present challenges because in some cases it is not always clear which factor(s) prompted the lender to take adverse action. In 2021, CCO discussed this issue in “Advanced Topics in Adverse Action Notices Under the Equal Credit Opportunity Act.”10 We reprint pertinent parts of the article here.

In December 2019, the banking agencies issued the Interagency Statement on the Use of Alternative Data in Credit Underwriting.11 The interagency statement noted that some creditors are using alternative data (defined as information not typically found in a consumer’s credit report file or that consumers do not customarily provide during applications for credit)12 to evaluate borrowers’ repayment ability, including bank account cash flows. The interagency statement noted the creditors’ use of cash flow data can generally be explained and disclosed to the applicant consistent with the AAN requirements in the ECOA and the FCRA.13

Appendix C of Regulation B includes sample AAN forms that list some of the factors creditors commonly consider in taking adverse action. However, when a creditor uses alternative data in the credit decision and the application is denied based on that data, the factors listed in the Appendix C forms may not be suitable. Appendix C states that if reasons commonly used by the creditor are not provided on the form, the creditor should modify the checklist by substituting or adding other reasons.14 This flexibility may be useful when applying the AAN requirements to denied applications based on alternative data.

Adverse Action Notification When AI/ML Models Are Used

Underwriting models that use artificial intelligence or machine learning (AI/ML) technologies to automate credit decisioning may allow lenders to evaluate other information about credit applicants beyond traditional credit bureau report data. However, the use of AI/ML technologies in credit decisions can pose similar challenges as alternative data in determining and disclosing in the AAN the specific reason(s) for taking adverse action. In a blog post titled “Innovation Spotlight: Providing Adverse Action Notices When Using AI/ML Models,” the CFPB provided informal guidance on this emerging issue.15 The CFPB noted that Regulation B provides flexibility that can be compatible with AI algorithms. For example, although a creditor must provide the specific reasons for an adverse action, the commentary clarifies that a creditor is not required to describe how or why a disclosed factor adversely affected an applicant or, for credit scoring systems, how the factor relates to creditworthiness.16 Thus, a creditor may disclose a reason for taking adverse action, even if the relationship between the factor and the credit decision may not be clear to the applicant. This flexibility may help creditors when issuing AANs based on AI models in which the variables and key reasons are known but may not be clear to the consumer.

The CFPB also noted that Regulation B does not mandate the use of any particular list of reasons. Instead, creditors must accurately describe the factors actually considered and scored by a creditor, even if those reasons are not reflected on the current sample forms.

In 2022 and 2023, the CFPB issued further guidance on this topic. In Consumer Financial Protection Circular 2022-03, the CFPB discussed the issue of complex algorithms in which it is difficult to accurately identify the specific reasons for denying credit or taking other adverse actions. The circular clarifies that “ECOA and Regulation B do not permit creditors to use complex algorithms when doing so means they cannot provide the specific and accurate reasons for adverse actions” (emphasis added). The CFPB explained that ECOA AAN requirements apply equally to all credit decisions, regardless of the technology used to make them, and the ECOA AAN must include a statement of reasons that specifically indicates the principal reason(s) adverse action was taken.

In 2023, the CFPB further discussed this issue in Consumer Financial Protection Circular 2023-03, which added these additional points:

Spousal Signature Rule

Before discussing spousal requirements in connection with commercial credit, it is helpful to first note the core requirement: When an applicant applies for credit individually and meets the creditor’s lending standards for the amount and credit terms requested, the creditor cannot require the signature of an applicant’s spouse or other person, other than a joint applicant, on any credit instrument, subject to certain exceptions.17 To implement this requirement, the regulation requires that when spouses apply for credit jointly, their intent to do so must be evidenced at the time of application. Joint signatures on a promissory note are insufficient for this purpose. However, the staff commentary further states that “signatures or initials on a credit application affirming applicants’ intent to apply for joint credit may be used to establish intent to apply for joint credit.”18 For additional information on the spousal signature rules, see the CCO article “Regulation B and Marital Status Discrimination: Are You in Compliance?” by Carol Evans and Surya Sen (Fourth Quarter 2008).

For commercial credit, a creditor may require the personal guarantee of the partners, directors, or officers of a business, as well as the shareholders of closely held corporations, even though the business independently meets the creditor’s lending standards for the amount and terms requested. Creditors must base this decision on the guarantor’s relationship to the business and not on a prohibited basis, such as requiring guarantees only for women-owned or minority-owned businesses or requiring guarantees only of the married officers of a business or the married shareholders of a closely held corporation.19

The joint intent and signature provision requirements of Regulation B are unchanged since the prior article. However, because they are often identified as regulatory violations, it is important to ensure that the requirements and practices to mitigate the risk of such violations are clearly established in banks’ policies, procedures, and documentation processes.

Section 1071 Final Rule for Small Business Loans Under the ECOA

Section 1071 of the Dodd–Frank Act amended the ECOA to direct the CFPB to issue a rule to require covered financial institutions to collect and report certain data points for their small, women-owned, and minority-owned business applications of covered credit transactions. On May 31, 2023, the CFPB published a final rule in the Federal Register to amend Regulation B to implement §1071.20 The rule generally requires financial institutions making 100 or more covered credit transactions in the last two calendar years to small businesses with gross annual revenue of $5 million or less to collect and report certain data points on the loans.

The CFPB has a number of helpful resources on its website to facilitate §1071 compliance:

In response to a lawsuit challenging the §1071 final rule, a federal court stayed its implementation on October 26, 2023, pending the outcome of the lawsuit.21

Record Retention Requirements

Regulation B generally requires creditors to retain written or recorded information in connection with a commercial credit application for 12 months after the date that the applicant learned of the action taken on the application (compared with 25 months for consumer credit applications).22

Statute of Limitations for ECOA Lawsuits

The Dodd–Frank Act extended the statute of limitations for ECOA claims from two to five years.23 As a result, creditors have longer exposure to civil legal liability for consumer and commercial credit transactions.


The Fair Housing Act (FHA) prohibits, among other things, discrimination in residential real estate transactions on the basis of race, color, national origin, religion, sex, familial status, or disability.24 While the FHA most frequently involves consumer housing issues, it can apply to certain commercial real estate transactions. The FHA defines residential real estate transaction as:

  1. making or purchasing of loans or providing other financial assistance —
    1. for purchasing, constructing, improving, repairing, or maintaining a dwelling; or
    2. secured by residential real estate; or
  2. selling, brokering, or appraising of residential real property.25

In the commercial lending context, the FHA’s lending requirements apply to a loan to acquire real estate that will be used for residential housing. This would include, for example, a landlord’s loan to acquire a residential apartment building or a developer’s loan to construct a residential condominium.

Prohibited Basis of Sex Includes Sexual Orientation and Gender Identity

The Department of Housing and Urban Development (HUD) is the agency charged with implementing the FHA. On February 11, 2021, HUD issued a memo to implement the previously noted Executive Order 13998. The memo clarifies that the prohibition on discrimination on the basis of sex in the FHA26 includes sexual orientation and gender identity. As discussed earlier for the ECOA, training on this issue for commercial loan staff, along with updated policies and procedures, can help mitigate this fair lending risk.

Because the FHA includes two prohibited bases that are not included in the ECOA ­— namely, disability and familial status — lenders must ensure their lending decisions and processes are not discriminating against borrowers for commercial loans subject to the FHA.


The Flood Disaster Protection Act of 1973 (FDPA) mandates, with limited exemptions,27 that federally regulated lending institutions and federal agency lenders cannot make, increase, extend, or renew a loan secured by a building or mobile home located in a special flood hazard area unless the building or mobile home and any personal property securing the loan is covered by flood insurance for the term of the loan.28 The type and location of the collateral are the primary factors for this determination; the loan purpose (i.e., consumer or commercial) is generally not relevant. For an overview of flood insurance requirements, refer to the CCO article “Flood Insurance Compliance Requirements” by Kenneth Benton and Michael Schiraldi (Third–Fourth Quarter 2015).

If a borrower disputes aspects of the flood determination process, the Federal Emergency Management Agency (FEMA), which administers the National Flood Insurance Program, has established procedures to challenge a determination.29

Escrow Requirement for Flood Insurance Premiums

The Biggert–Waters Flood Insurance Reform Act of 2012 (BWA) expanded the circumstances in which lenders subject to the FDPA must escrow flood insurance premiums. CCO reviewed these requirements in detail in 2015. See Blessing Chimwanda and Danielle Martinage, “Agencies Issue Final Rule for New Flood Insurance Requirements” (Third–Fourth Quarter 2015). The federal agencies with FDPA rulemaking authority also conducted an Outlook Live webinar on their final rule implementing parts of the BWA. The audio, presentation slides, and transcript from the event are available on the Outlook Live website. After the webinar, the agencies addressed additional participant questions in a Q&A article in CCO (First Issue 2016).

Private Flood Insurance

The BWA also amended the FDPA to require regulated lenders to accept private flood insurance policies, as defined in the statute, to satisfy the mandatory flood insurance purchase requirements. In 2019, the agencies issued a final rule to implement this requirement. The rule also provides regulated lenders with the discretion to accept policies not satisfying the statutory definition of a private policy if the policies satisfy the discretionary standards established in the final rule and permits regulated lenders to accept a plan provided by a mutual aid society, as defined in the regulation, if the plan meets certain circumstances and the lender’s primary federal regulator determines the plan qualifies as flood insurance under the FDPA. Finally, the rule implemented a requirement in the 2014 Homeowner Flood Insurance Affordability Act (HFIAA) that exempted certain detached structures from the purchase requirements.

The agencies conducted an Outlook Live webinar on these changes in 2019. The audio, presentation slides, and transcript from the event are available on the Outlook Live website. In addition, this issue of CCO contains a detailed article on the private flood insurance requirements.

Risk Rating 2.0

Under FEMA’s Risk Rating 2.0 initiative, FEMA prices flood insurance premiums based on a property’s individual risk characteristics, such as distance to a waterway, elevation, and claims history. The National Flood Insurance Act generally limits annual rate increases to no more than 18 percent for most policies, and 25 percent for policies covering:

FEMA will continue to increase annual premiums, subject to the statutory limits, until full risk-based pricing is implemented for all policies. For more information on Risk Rating 2.0, see the CCO Compliance Alert “FEMA Begins Risk Rating 2.0 Flood Insurance Initiative” (Fourth Issue 2021).

Revised Interagency Flood Insurance Questions and Answers

In May 2022, the Interagency Questions and Answers Regarding Flood Insurance were updated to consolidate the proposed revisions from July 2020 and March 2021 into one set of 144 questions and answers; this is a comprehensive update, replacing the previous questions and answers provided in 2009 (and the 2011 amendments to the 2009 Interagency Questions and Answers). The updated questions and answers also incorporate amendments to the agencies’ regulations to implement the BWA and the HFIAA. Finally, the organization of the questions was revised to provide a more logical, topical flow and facilitate future revisions to the questions and answers. In July 2022, the banking agencies conducted an interagency Outlook Live webinar to highlight the changes in the Q&As.31

Finally, CCO published an article on commercial flood insurance compliance in 2022. See Danielle Martinage, “Commercial Flood Insurance Compliance — Washing Away Common Pitfalls” (Second Issue 2022).


The Servicemembers Civil Relief Act (SCRA)32 provides certain financial protections to servicemembers and, in some cases, their spouses, dependents, and other persons subject to the obligations of servicemembers. The SCRA covers issues such as rental agreements, eviction, in­stallment loans, credit card interest rates, mortgage interest rates, mortgage foreclosure, automobile repossessions, and automobile leases.

The SCRA’s protections apply to obligations contracted prior to entering military service. The SCRA’s protections apply to servicemembers and joint obligations of servicemembers and their spouses. No distinction is made between consumer and commercial credit. For more information, refer to the CCO articles “Servicemember Financial Protection: An Overview of Key Federal Laws and Regulations,” by Lanette Meister, Lorna Neill, Amal Patel, and Vivian Wong (Second Issue 2017), and “Servicemember Financial Protection Webinar: Questions and Answers,” by Lanette Meister, Laurie Maggiano, and Laura Arce (First Quarter 2013), and the 2012 Outlook Live webinar Servicemember Financial Protection.


The Home Mortgage Disclosure Act (HMDA) and its implementing Regulation C have undergone many changes in recent years, including amendments to provisions that affect dwelling-secured loans originated on the commercial side of the bank. The CFPB issued a final rule in 2015 to implement the 2010 Dodd­–Frank Act amendments to HMDA, which expanded the data that must be collected and reported under HMDA. This final rule generally became effective on January 1, 2018, and has been amended several times. The rule generally requires reporting of data on most consumer-purpose loans secured by a dwelling. A loan made primarily for business or commercial purposes is generally excluded from HMDA’s coverage, unless it is a home improvement loan, home purchase loan, or refinancing and no other exclusions apply. Properties used for mixed-use purposes, such as apartment and retail units, are considered dwellings if the primary use is residential. The rule’s commentary,33 which discusses mixed-use properties, allows institutions to use reasonable standards to determine the property’s primary use, and to select the standard to apply on a case-by-case basis.

A specific exemption also applies to a closed-end mortgage loan or open-end line of credit used primarily for agricultural purposes.34 The final rule cross-references the guidance in Regulation Z to define an agricultural purpose,35 which provides that an institution may use reasonable standards to determine the primary use of the property and select the standard to apply on a case-by-case basis.

Finally, the HMDA reporting threshold for closed‑end mortgages had been raised from 25 to 100 covered loans in each of the prior two years,36 but a court vacated this portion of the rule. As a result, the CFPB published a technical amendment in December 2022 to restore the original 25 closed‑end mortgage loan threshold in response to the court order.37 CCO discussed this change in a Compliance Alert in its First Issue 2023.

The CFPB has a number of helpful resources on its website38 that address HMDA, including a Small Entity Compliance Guide, a HMDA Transactional Coverage Chart that addresses the commercial and agricultural exemptions, and HMDA FAQs. To ensure that HMDA reporters appropriately capture dwelling‑secured closed-end mortgage loans and open-end lines of credit that may have been originated primarily for business or commercial purposes but are home improvement loans, home purchase loans, or refinancings, it is important that commercial lending management is aware of the transactional reporting requirements applicable to their area, with appropriate coordination with the HMDA-reporting coordinator in their institution.


The CRA requires that the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Board), and the Office of the Comptroller of the Currency (OCC) assess the record of each covered depository institution in helping to meet the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations. For large banks, the CRA requires certain data collection for small business, small farm, and community development lending activity. Large banks collect small business and small farm loans as they are defined in the instructions to prepare the Consolidated Report of Condition and Income.39

For community development loans, lending officers should be familiar with the definitions of community development to ensure that a bank’s full universe of community development loans is captured for consideration in the bank’s CRA performance evaluation. In addition, commercial lending processes should be in place to identify such loans at the time of origination, in cooperation with the institution’s CRA officer.

On February 1, 2024, the FDIC, the Board, and the OCC jointly published a final rule in the Federal Register to strengthen and modernize the regulations implementing the CRA.40 On March 21, 2024, the agencies issued an interim final rule to change the effective date for the facility-based assessment areas provision and the content and availability of public file provision from April 1, 2024, to January 1, 2026. Several trade groups filed a lawsuit challenging the final rule, and on March 29, 2024, the district court granted a preliminary injunction to stay enforcement of the rule pending the outcome of the lawsuit.41


The Expedited Funds Availability Act, as implemented by Regulation CC, sets forth the requirements that depository institutions make funds deposited into transaction accounts available according to specified time schedules and that they disclose their funds availability policies to their customers. It also establishes rules designed to speed the collection and return of unpaid checks and describes requirements that affect banks that create or receive substitute checks, including requirements related to consumer disclosures and expedited recredit procedures. The statute and the regulation apply to both consumer and commercial accounts.42


The Truth in Lending Act (TILA), as implemented by Regulation Z, seeks to provide “meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit.”43 TILA and Regulation Z primarily focus on consumer credit, as defined in 12 C.F.R. §1026.2(a)(12) and elaborated upon in the staff commentary.44 However, two provisions may apply to credit cards issued for business purposes. First, credit cards can be issued, regardless of their purpose, only in response to an application or oral or written request or as a substitute for or renewal of an existing card.45

Second, the regulation also has provisions specifically applicable to unauthorized use of a credit card where a card issuer provides 10 or more credit cards for use by the employees of an organization.46


Although many federal consumer protection laws and regulations apply solely to consumer transactions, some commercial products and services are also subject to some of these requirements. Financial institutions should review these requirements to ensure that effective policies and procedures are in place for complying with these laws and regulations. Specific issues and questions should be raised with your primary regulator.


1 Laura Gleason and Elizabeth Galvin “Consumer Compliance Requirements for Commercial Products and Services” (CCO, First Quarter 2015). Topics included the Equal Credit Opportunity Act/Regulation B, the Flood Disaster Protection Act/Regulation H, the Fair Credit Reporting Act, the Servicemembers Civil Relief Act, Home Mortgage Disclosure Act/Regulation C, the Community Reinvestment Act/Regulation BB, the Expedited Funds Availability Act/Regulation CC, and the Truth in Lending Act/Regulation Z.

2 12 C.F.R. §1002.2(z).

3 Some provisions in Regulation B do not apply to public utilities credit, government credit, securities credit, and incidental credit. See 12 C.F.R. §1002.3. In addition, the furnisher requirements in 12 C.F.R. §1002.10 apply only to consumer credit transactions. See Comment 10-1 of the Regulation B staff commentary. (“The requirements of §1002.10 for designating and reporting credit information apply only to consumer credit transactions. Moreover, they apply only to creditors that opt to furnish credit information to credit bureaus or to other creditors; there is no requirement that a creditor furnish credit information on its accounts.”)

4 86 FR 14363 (March 16, 2021).

5 86 FR 14365.

6 12 C.F.R. §1002.9(a)(3).

7 12 C.F.R. §1002.9(a)(3)(i)(A).

8 12 C.F.R. §1002.9(a)(3)(i)(B).

9 12 C.F.R. §1002.9(a)(3)(ii).

10 Dolores Collazo, “Advanced Topics in Adverse Action Notices Under the Equal Credit Opportunity Act” (CCO, First Quarter 2015).

11 See Consumer Affairs letter 19-11 for the Interagency Statement.

12 Interagency Statement, footnote 1.

13 Interagency Statement at p. 2.

14 See Appendix C to Part 1002 — Sample Notification Forms, Instruction 3.

15Innovation Spotlight: Providing Adverse Action Notices When Using AI/ML Models,” Patrice Alexander Ficklin, Tom Pahl, and Paul Watkins (CFPB, July 7, 2020).

16 See Comments 9(b)(2)-3 and -4, respectively, of Regulation B.

17 12 C.F.R. §1002.7(d)(1).

18 See Comment 7(d)(1)-3 of Regulation B.

19 See Comment 7(d)(6)-1 of Regulation B.

20 88 FR 35150 (May 31, 2023).

21 Texas Bankers Association v. Consumer Financial Protection Bureau, 2023 U.S. Dist. LEXIS 222243 (N.D. Tex Oct 27, 2023).

22 12 C.F.R. §1002.12(b).

23 15 U.S.C. §1691e(f).

24 42 U.S.C. §§3604, 3605; 24 C.F.R. Part 100.

25 42 U.S.C. §3605(b); 24 C.F.R. §110.115.

26 42 U.S.C. §§3604, 3605(a), 3606; 24 C.F.R. Part 100.

27 The exemptions apply to state-owned property covered under a policy of self-insurance satisfactory to FEMA and to loans with an original principal balance of $5,000 or less and a repayment term of one year or less. See 12 C.F.R. §208.25(d).

28 42 U.S.C. §4012a(b); 12 C.F.R. §208.25(c). Loans sold to the government-sponsored enterprises are also subject to the flood insurance purchase requirements. 42 U.S.C. §4012a(b)(3).

29Change Your Flood Zone Designation” (FEMA).

30 42 U.S.C. §4015(e)(4).

31 Outlook Live Interagency Flood Insurance Q&As webinar.

32 50 U.S.C. App. 501 et seq. The SCRA is a standalone statute with no implementing rule, regulation, or commentary.

33 Comment 2(f)‑4 of Regulation C.

34 12 C.F.R. §1003.3(c)(9).

35 Comment 3(a)-8 of Regulation Z.

36 85 FR 28364 (May 12, 2020).

37 87 FR 77980 (December 21, 2022).

38 Home Mortgage Disclosure Reporting Requirements (CFPB).

39 Instructions for Preparation of Consolidated Reports of Condition and Income, page RC-C-37.

40 89 FR 6574 (February 1, 2024).

41 Texas Bankers Association v. Office of the Comptroller of the Currency (N.D. Tex March 29, 2024).

42 12 U.S.C. §4001(1); 12 C.F.R. §229.2(a).

43 15 U.S.C. §1601(a).

44 12 C.F.R. §1026.1(c).

45 12 C.F.R. §1026.12(a).

46 12 C.F.R. §1026.12(b)(5).