HUD rescinds Biden-era statement on special credit programs in housing

The U.S. Department of Housing and Urban Development on Tuesday announced the rescission of a Biden-era inter-agency statement encouraging the development of special purpose credit programs (SPCPs) that it said would “favor one class of American over another.”The rescission came in a joint statement with the Consumer Financial Protection Bureau (CFPB), Department of Justice (DOJ), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), and the Federal Housing Finance Agency (FHFA).
“No regulation or interagency statement fixated on the Biden administration’s DEI commitments can defeat the Fair Housing Act’s categorical prohibition against discriminating on the basis of race and color in any residential real estate-related transaction,” HUD Assistant Secretary for Fair Housing and Equal Opportunity Craig Trainor said. “Credit decisions must be made on economically relevant criteria and never on race or other protected characteristics. Under Secretary Turner’s leadership, HUD will never again be in the sordid business of divvying up Americans by race.”
The joint statement from Tuesday asserted that the old Biden-era regulation had enabled lending programs based on race and sex, which HUD found did not meet the Supreme Court’s standards for allowing race-based programs.
Ben Whedon is the Chief Political Correspondent for Just the News. Follow him on X.

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