DEFINITION of 'Regulation BB'
A regulation that requires banks to provide certain information to the public. Regulation BB mandates that banks must disclose to the public which communities they will serve and the type of credit that they are willing to extend there. It also requires them to publish any comments they have about their Community Reinvestment Act (CRA) statement to the public.
BREAKING DOWN 'Regulation BB'
Regulation BB is simply the implementation of the CRA. This act encourages banks and lending institutions to extend credit to all segments of society, including the less creditworthy. Regulation BB therefore requires these entities to make public statements regarding their policies on this matter.