does reg b cover collection procedures

All lenders are required to comply with Regulation B when extending credit to borrowers under the Equal Credit Opportunity Act (ECOA), which is regulated and enforced by the Consumer Financial Protection Bureau (CFPB). If a creditor takes an application through an electronic medium that allows the creditor to see the applicant, the creditor must treat the application as taken in person. The Bureau Approval Notice provides that, at any time from January 1, 2017, through December 31, 2017, a creditor may, at its option, permit applicants to self-identify using disaggregated ethnic and racial categories as instructed in revised Regulation C. During this period, a creditor adopting the practice of permitting applicants to self-identify using disaggregated ethnic and racial categories as instructed in the Regulation C appendix is not deemed to violate Regulation B 1002.5(b). Compliance with the applicable servicing criteria is achieved if those policies and procedures are designed to provide reasonable assurance that such vendor's activities comply with such criteria and those policies and procedures are operating effectively. The OFR/GPO partnership is committed to presenting accurate and reliable Does Reg B require receipt of all required conditions before a credit approval can be made? Under Dodd-Frank Act section 1022(b)(1), the Bureau has authority to prescribe rules as may be necessary or appropriate to enable the Bureau to administer and carry out the purposes and objectives of the Federal consumer financial laws and to prevent evasions thereof. Section 1002.5(a)(2) provides several exceptions to that prohibition for information that creditors are required to request for certain dwelling-secured loans under 1002.13, and for information required by a regulation, order, or agreement issued by or entered into with a court or an enforcement agency to monitor or enforce compliance with ECOA, Regulation B or other Federal or State statutes or regulations, including Regulation C. Section 1002.13 sets forth rules for collecting information about an applicant's ethnicity, race, sex, marital status, and age under Regulation B. documents in the last year, by the Environmental Protection Agency Each document posted on the site includes a link to the The final rule may have some benefits to Regulation B-only creditors, as the current language of Regulation B would not allow these entities to use the 2016 Start Printed Page 45691URLA for the purpose of collecting race and ethnicity data, as the 2016 URLA uses the disaggregated race and ethnicity categories set forth in revised Regulation C and not the specific categories required by current Regulation B. edition of the Federal Register. 36. One commenter indicated that the Bureau's proposed effective date for this rule creates concerns that it does not indicate that the collection of disaggregated applicant demographic information is permitted for applications received in 2017 for which final action is taken in 2018. For class actions, the creditor could face a penalty of $500,000 or 1% of the creditors net worth, whichever is lower. Appendix B to this part provides for two alternative data collection model forms for use in complying with the requirements of 1002.13(a)(1)(i) and (ii) to collect information concerning an applicant's ethnicity, race, and sex. documents in the last year, 983 Because the Bureau Approval Notice remains in effect for all of 2017, the amendments in this rule are not necessary to permit Regulation B-only creditors or HMDA reporters to collect disaggregated applicant demographic information for applications taken in 2017; they are already permitted to do so by the Bureau Approval Notice for any application for a covered loan under revised Regulation C 1003.2(g) or any application subject to 1002.13 for all of 2017. 1375, 1980 (2010) (codified at 12 U.S.C. 5512, 5581; 15 U.S.C. If the applicant(s) chooses not to provide the information or any part of it, that fact shall be noted on the form. The Equal Credit Opportunity Act (ECOA) is a federal civil rights law that forbids lenders to deny credit to an applicant based on any factor unrelated to the person's ability to repay. The Enterprises, under the conservatorship of the FHFA, issued a revised and redesigned URLA on August 23, 2016 (2016 URLA). Financial institutions originating fewer than 500 open-end lines of credit in either of the preceding two years will not be required to begin collecting such data until January 1, 2020. The Bureau expects that institutions will only exercise this option if voluntary collection provides a net benefit. 16. ii. To determine whether the credit union is in compliance with those requirements of ECOA that are set forth in Regulation B. No commenters provided such data. A synopsis of some of the more important points of Regulation B follows, and an examination program is provided for a more thorough review. Register, and does not replace the official print version or the official 82 FR 43088, 43093-43096 (Sept. 13, 2017); see also id. Given that neither of these forms is currently used by the Enterprises, the Bureau proposed to remove in its entirety the commentary to the Regulation B appendix. Because Regulation B and Regulation C do not provide inconsistent instructions on the scope of the term natural person, the Bureau declines to provide additional guidance on this issue within this final rule, which, as related to 1002.13, is limited to modifications that harmonize the collection requirements of Regulation B and Regulation C. The Bureau proposed revised comment 13(a)-7 to provide that, for applications subject to 1002.13(a)(1), a creditor that collects information about the ethnicity, race, and sex of an applicant in compliance with the requirements of the revised Regulation C appendix will be acting in compliance 1002.13 concerning the collection of an applicant's ethnicity, race, and sex information. When a creditor collects ethnicity and race information pursuant to 1002.13(a)(1)(i)(B), the applicant must be offered the option to select more than one ethnicity designation and more than one racial designation. documents in the last year, by the Food Safety and Inspection Service and the Food and Drug Administration The Bureau proposed to revise the Regulation B appendix to provide two additional model forms for use in complying with 1002.13. 35. 41. Is There a Gender Gap in Home Equity Loans? The Bureau has consulted, or offered to consult with, the prudential regulators (the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency), the Securities and Exchange Commission, the Department of Justice, the Department of Housing and Urban Development, the Federal Housing Finance Agency, the Federal Trade Commission, the Department of Veterans Affairs, the Department of Agriculture, and the Department of the Treasury, including regarding consistency with any prudential, market or systematic objectives administered by such agencies. An applicant's age can be requested if it appears that they cannot legally sign a contract. [45] The RFA defines a small business as a business that meets the size standard developed by the Small Business Administration pursuant to the Small Business Act. Commentary to the Regulation B appendix includes a discussion of two forms created by the Enterprises that are no longer in use: A 1992 version of the URLA and a 1986 home-improvement and energy loan application form. Comment 5(a)(4)-1 provides that information regarding ethnicity, race, and sex that is not required to be collected pursuant to Regulation C may nevertheless be collected under the circumstances set forth in 1002.5(a)(4) without violating 1002.5(b). Forms for collecting data. 210.4 Sending items to Reserve Banks. At the same time, mandatory use of disaggregated collection of race and ethnicity categories would impose greater costs on creditors than the Bureau's proposal, particularly on smaller entities. Aspects of overdraft program implementation or management that is outsourced to third parties, including debt collection practices, must be actively overseen by the bank to ensure compliance. Appendix B to 12 CFR part 1003 provides a data collection model form for collecting information concerning an applicant's ethnicity, race, and sex that complies with the requirements of 1002.13 (a) (1) (i) (B) and (ii). procedures. Amendments to Equal Credit Opportunity Act (Regulation B) Ethnicity and Race Information Collection, 82 FR 16307 (Apr. The Bureau believes that creditors should not be subject to differing collection requirements, and that aligning the requirements of 1002.13 and revised Regulation C furthers the purposes of ECOA by facilitating practices that promote the availability of credit to all creditworthy applicants. on documents in the last year, 1408 The Bureau did not intend to extend the record retention period under Regulation B for business credit transactions through the proposal and this final rule does not do so. on Open for Comment, Economic Sanctions & Foreign Assets Control, Electric Program Coverage Ratios Clarification and Modifications, Determination of Regulatory Review Period for Purposes of Patent Extension; VYZULTA, General Principles and Food Standards Modernization, Further Advancing Racial Equity and Support for Underserved Communities Through the Federal Government, B. Section 1002.5 provides rules concerning requests for information. A general description of the regulation, by section, follows. The creditor shall then also note on the form, to the extent possible, the ethnicity, race, and sex of the applicant(s) on the basis of visual observation or surname. The revisions and additions read as follows: 1. [19] 2. This table of contents is a navigational tool, processed from the . The documents posted on this site are XML renditions of published Federal However, there are certain times when such information can be collected from the applicant. *. Computerized decisions. [5] [17] An industry service provider suggested the Bureau standardize the treatment of co-applicants between 1002.13 and Regulation C. The commenter noted that the two rules imposed different requirements where there are multiple applicants, stating that while 1002.13 requires a financial institution to collect information from any applicant who is a natural person, the revised Regulation C appendix instructs a financial institution to provide applicant demographic information for only the applicant and the first co-applicant listed on the collection form. For applications subject to 1002.13(a)(1), a creditor may choose on an application-by-application basis whether to collect aggregate information pursuant to 1002.13(a)(1)(i)(A) or disaggregated information pursuant to 1002.13(a)(1)(i)(B) about the ethnicity and race of the applicant. ), Federal agencies are generally required to seek the Office of Management and Budget (OMB)'s approval for information collection requirements prior to implementation. The Regulatory Flexibility Act (RFA), as amended by the Small Business Regulatory Enforcement Fairness Act of 1996, requires each agency to consider the potential impact of its regulations on small entities, including small business, small governmental units, and small nonprofit organizations. Regulatory Flexibility Act Analysis, PART 1002EQUAL CREDIT OPPORTUNITY ACT (REGULATION B), Supplement I to Part 1002Official Interpretations, Section 1002.5Rules Concerning Requests for Information, Section 1002.13Information for Monitoring Purposes, https://www.federalregister.gov/d/2017-20417, MODS: Government Publishing Office metadata, https://www.consumerfinance.gov/policy-compliance/guidance/, https://www.fanniemae.com/singlefamily/selling-servicing-guide-forms, http://www.freddiemac.com/singlefamily/guide/, http://www.census.gov/prod/cen2010/briefs/c2010br-02.pdf, https://www.fanniemae.com/content/guide/selling/b1/1/01.html;, http://www.freddiemac.com/singlefamily/guide/bulletins/snapshot.html, https://www.fanniemae.com/singlefamily/uniform-residential-loan-application, https://www.fanniemae.com/content/news/urla-announcement-august-2016.pdf, https://www.fanniemae.com/content/guide_form/urla-demographic-addendum.pdf, https://www.fanniemae.com/content/news/urla-announcement-november-2016.pdf;, https://www.fanniemae.com/content/faq/urla-ulad-faqs.pdf. These costs include greater operational costs and one-time database upgrades. documents in the last year, 1479 09/29/2017 at 8:45 am. The Bureau Approval Notice provided that, anytime from January 1, 2017 through December 31, 2017, a creditor may, at its option, permit applicants to self-identify using disaggregated ethnic and racial categories as instructed in the revised Regulation C appendix. 2458 0 obj <>stream Prior to Reg B, discriminatory lending practices such as redlining for mortgages was prevalent in the U.S. Regulation B makes such practices illegal. 17. documents in the last year, 121 developer tools pages. The Bureau did not propose these changes to Regulation B. All forms contained in this appendix are models; their use by creditors is optional. =+f=?z)0p0+~#zSsTib5MuC={0z7&8J8],?8A eMa`?P2EDJaq{%c The commenter asserted the resulting data are never used by regulators, while the collection and retention imposes a substantial burden. Id. To further align the collection requirements of Regulation B and Regulation C, the Bureau is further amending 1002.13(b) to permit, but not require, creditors to collect the information set forth in 1002.13(a) from a second or additional co-applicant. 3 (a) Public-utilities credit. The Enterprises have not yet provided a date when lenders may begin using the 2016 URLA or the date lenders are required to use the 2016 URLA (the cutover date), but have stated their intention to collaborate with industry stakeholders to help shape the implementation timeline for the 2016 URLA, with a goal to provide lenders with more precise information in 2017 regarding the cutover date.[20]. More importantly, it gives applicants the chance to correct the creditor's mistakes in evaluating the applicant's creditworthiness. The Bureau is adopting comment 13(a)-8 as proposed. The final rule will make three substantive changes to Regulation B, along with other clarifications, minor changes, and technical corrections to align the language of Regulation B with Regulation C as amended by the 2015 HMDA Final Rule. The commenter noted that differing instructions may lead to uncertainty and that Regulation B-only creditors would benefit from the additional instructions provided in revised Regulation C. No commenters opposed the proposed comment, and so the Bureau is finalizing comment 13(a)-7 as proposed. As discussed in the Section 1022(b) analysis for the 2015 HMDA Final Rule, collection of disaggregated race and ethnicity data can enhance the ability of regulators, researchers and community groups to conduct fair lending analysis. When a creditor collects ethnicity and race information pursuant to 1002.13(a)(1)(i)(B), the creditor must comply with any restrictions on the collection of an applicant's ethnicity or race on the basis of visual observation or surname set forth in appendix B to 12 CFR part 1003. To the extent that the provision benefits firms and consumers, consumers in rural areas will see the largest benefits. These can be useful Fair Credit Reporting Act (Reg V) FCRA is intended to ensure consumer reports are accurate and used for permissible purposes. The federal Fair Credit Reporting Act covers how debt collection is reported in credit reports. The current Regulation B appendix includes the 2004 URLA as a model form. 1 Applications through loan-shopping services. On March 24, 2017, the Bureau issued the 2017 ECOA Proposal on its Web site. [6] The requirements of the regulation apply only to an account for which an agreement for EFT services to or from the account has been entered into between: i. Under the PRA, the Bureau may not conduct or sponsor and, notwithstanding any other provision of law, a person is not required to respond to an information collection unless the information collection displays a valid control number assigned by OMB. at 43132, 43145 (1003.2(g)(1)(v)(B), (g)(2)(ii)(B), and 1003.3(c)(12)). This appendix contains five model credit application forms, each designated for use in a particular type of consumer credit transaction as indicated by the bracketed caption on each form. Indeed, given that Regulation C requires collection of certain applicant demographic information on the basis of visual observation or surname, adopting either proposal would undermine the purpose of this rulemaking by imposing different requirements in Regulation B and Regulation C.[37] on You can learn more about the standards we follow in producing accurate, unbiased content in our. Information that a creditor is allowed to collect pursuant to a state statute or regulation includes information required by a local statute, regulation, or ordinance. Section 1002.13(b) through (c) provides instructions on the manner of collection. Regulation C implements HMDA and sets out specific requirements for the collection, recording, reporting, and disclosure of mortgage lending information, including a requirement to collect and report applicant demographic information. include documents scheduled for later issues, at the request documents in the last year, 522 The Enterprises have announced that they will cease accepting older versions of the URLA at a date to be determined and require firms that sell to the Enterprises to use the 2016 URLA form. The rule makes certain changes to the Regulation B appendix. Industry commenters noted this potential conflict and expressed their support for the proposal. Proposed 1002.5(a)(4)(i) and (ii) would permit a creditor that is a financial institution under revised Regulation C 1003.2(g) to collect demographic information of an applicant for a closed-end mortgage loan or an open-end line of credit that is an excluded transaction under revised Regulation C 1003.3(c)(11) or 1003.3(c)(12) if it submits HMDA data concerning those applications and loans or if it submitted HMDA data concerning closed-end mortgage loans or open-end lines of credit in any of the preceding five calendar years.[31]. Thus, even if the Bureau were reconsidering its approach to visual observation or surname collection, which it is not, the Bureau does not believe the evidence submitted by the commenters demonstrate that collection based on visual observation or surname do not serve the purposes of ECOA. documents in the last year, 822 The Bureau proposed to amend 1002.12(b)(1)(i) to include within its preservation requirements any information obtained pursuant to 1002.5(a)(4). The Enterprises, currently under the conservatorship of the Federal Housing Finance Agency (FHFA), prepare and periodically revise the URLA used by many lenders for certain dwelling-related loans. But an application for both a temporary loan to finance construction of a dwelling and a permanent mortgage loan to take effect upon the completion of construction is subject to 1002.13. Creditors that fail to comply with Reg B will be held liable for punitive damages up to $10,000 in individual actions. The date Start Printed Page 45690for removal of the 2004 URLA from the Regulation B appendix is discussed further in the Effective Date section below. i. Register documents. Moreover, because both methods use the same aggregate categories, a creditor can compare information collected under either method by rolling up the disaggregated subcategories into their corresponding aggregate categories. iii. In this Issue, Documents Although some entities subject to Regulation B but not Regulation C may choose to voluntarily Start Printed Page 45694begin collecting disaggregated race and ethnicity information, the Bureau believes the most likely reason for this to occur is through adoption of the 2016 URLA, which is not part of the final rule. The first sample form is intended for use in open-end, unsecured transactions; the second for closed-end, secured transactions; the third for closed-end transactions, whether unsecured or secured; the fourth in transactions involving community property or occurring in community property States; and the fifth in residential mortgage transactions which contains a model disclosure for use in complying with 1002.13 for certain dwelling-related loans. Finally, demographic data retained by Regulation B-only creditors is not reported under Regulation C. Consequently, most oversight and analysis of demographic data retained by Regulation B-only creditors will be done only by regulators, whereas researchers and community groups also conduct analysis of HMDA data reported under Regulation C. The Bureau believes the final rule will not impose any costs on consumers. In support, one of the commenters cited a report finding that 10 million Americans change their racial and ethnic identifications between U.S. Census surveys. 2. A consumer advocacy group commenter argued that the Bureau should adopt the alternative of requiring all persons subject to the collection and retention requirement of Regulation B to permit applicants to self-identify using disaggregated race and ethnicity categories. The Bureau also considered eliminating entirely the requirement in Regulation B to collect and retain certain applicant information. Questions regarding ethnicity, race, sex, marital status, and age may be listed, at the creditor's option, on the application form or on a separate form that refers to the application. This alternative would reduce burden to firms that do not report under HMDA. Accordingly, 1002.5(a)(4)(vi) permits a creditor that is collecting information regarding the ethnicity, race, and sex of an applicant or first co-applicant to collect information regarding the ethnicity, race, and sex of a second or additional co-applicant for a covered loan under Regulation C 1003.2(e), or for a loan described in paragraphs (a)(4)(i) through (v). All classes of transactions remain subject to 1002.4 (a), the general rule barring discrimination on a prohibited basis, and to any other provision not specifically excepted. The regulation requires written applications for the types of credit covered by 1002.13. Accordingly, the Bureau is not making disaggregated race and ethnicity categories mandatory for compliance with Regulation B at this time. Comment appendix B-1 provides that a previous version of the URLA, dated October 1992, may be used by creditors without violating Regulation B. [15] A number of commenters recommended alternative approaches to proposed 1002.13(a)(1)(i). The Bureau did not receive any comments on the proposed effective date for this provision. They must tell you the name of the creditor (company or person you owe), the amount you owe and how you can dispute the debt or seek verification of the debt. The President of the United States communicates information on holidays, commemorations, special observances, trade, and policy through Proclamations. Unlike financial institutions covered by Regulation C, creditors subject to 1002.13 but not to Regulation C are required only to collect and retain, but not to report, the required protected applicant-characteristic information. endstream endobj 2434 0 obj <>stream Comments related to the data collection model forms are addressed in the section-by-section analysis of the Regulation B appendix. 80 FR 66128, 80 FR 66140, and 66144 (Oct. 28, 2015). In the case of a two-to four-unit dwelling, the application is covered if the applicant intends to occupy one of the units as a principal residence. 2. 80 FR 66128, 66139, and 66169 (Oct. 28, 2015). Potential Benefits and Costs to Consumers and Covered Persons, Providing an Option To Collect Disaggregated Race and Ethnicity for Regulation B, Model Forms for Collecting Race and Ethnicity Data, Allowing Voluntary Collection of Applicant Information, C. Impact on Depository Institutions and Credit Unions With $10 Billion or Less in Assets, as Described in Dodd-Frank Section 1026, VIII. The final rule does not impose any new costs on firms, nor does the Bureau believe that consumers will experience any cost or benefit from the provision. 5. "Federal Fair Lending Regulations and Statutes: Equal Credit Opportunity (Regulation B)," Page 1. To facilitate compliance with Regulation B and further align the collection requirements of Regulations B and Regulation C, the Bureau is also amending 1002.13(b) to permit, but not require, creditors to collect the information set forth in 1002.13(a) from a second or additional co-applicant. The President of the United States issues other types of documents, including but not limited to; memoranda, notices, determinations, letters, messages, and orders. Current comment 13(b)-1 provides guidance on the forms and collection methods a creditor may use to collect applicant information under 1002.13(a). Effective January 1, 2018, amend Appendix B to Part 1002 by revising paragraph 1 and adding a Data Collection Model Form to the end of the Appendix to read as follows: 1. Subpart A--Collection of Checks and Other Items By Federal Reserve Banks. Federal Register. This appendix also contains a data collection model form for collecting information concerning an applicant's ethnicity, race, and sex that complies with the requirements of 1002.13(a)(1)(i)(A) and (ii). If you are using public inspection listings for legal research, you While every effort has been made to ensure that Some Regulation B-only creditors sell mortgages to the Enterprises, and would benefit from being able to use the 2016 URLA. 20. The consumer advocacy groups stated that mandatory disaggregated collection would ensure uniform data collection practices and facilitate fair lending analysis, including identifying potential discrimination against racial and ethnic subgroups. The regulation covers topics such as: Discrimination Discouragement Notification of action taken (including adverse action) Appraisal and other written valuations Special purpose credit programs Limitation on collection certain protected information Self-testing and self-correction Evaluation of applications Signature requirements 03/01/2023, 239 The Bureau acknowledges that the preamble to the proposed rule stated that 1002.12(b)(1) required retention of certain records for 25 months and did not acknowledge the different 12 month period for business credit provided for in 1002.12(b)(1). to the courts under 44 U.S.C. When it comes to credit transactions, a creditor cannot discriminate: Regulation B also mandates that lenders provide oral or written notice of rejection to failed applicants within 30 days of receiving their completed applications. regulatory information on FederalRegister.gov with the objective of Regulation B applies toall persons who, in the ordinary course of business, regularly participate in the credit decision of an applicant or borrower, including setting the terms of the credit. For data collected in or after 2018, the 2015 HMDA Final Rule amends the requirement for collection and reporting of applicant demographic information. Creditors that utilize model forms from appendix B to Regulation B (the Regulation B appendix) for mortgage loans are also affected by the rule. the Federal Register. The Bureau received no comments opposing and one comment supporting the proposed amendments and so is finalizing the Regulation B appendix to provide alternative model forms as proposed. However, of the three limitations to consumer benefits listed above, only the first (that disaggregated categories would be optional) is alleviated by requiring the use of disaggregated race and ethnicity categories under Regulation B. documents in the last year, 940 [21] d. Appendix BModel Application Forms is removed. In contrast, dwelling-secured loans that are not made primarily for a business or commercial purpose are generally required to be reported even if they do not meet the definition of a home purchase, refinancing, or home improvement loan. Other circumstances permitting voluntary collection of applicant demographic information finalized in this rule do not correspond to provisions in Regulation C addressing optional reporting. A net benefit instructions on the proposed effective date for this provision held for. Include greater operational costs and one-time database upgrades information collection, 82 FR 16307 Apr! ( Regulation B this rule do not report under HMDA at 12 U.S.C and Other Items Federal. Last year, 1479 09/29/2017 at 8:45 am comments on the manner of collection 66128... By Federal Reserve Banks on holidays, commemorations, special observances, trade, 66169... And Statutes: Equal credit Opportunity Act ( Regulation B at this time from the and Ethnicity mandatory! Appendix are models ; their use by creditors is optional evaluating the applicant age! Did not receive any comments on the proposed effective date for this provision 2015 HMDA Final rule amends the in. A Gender Gap in Home Equity Loans ) provides instructions on the manner of collection Bureau issued the ECOA... Firms that do not correspond to provisions in Regulation c addressing optional reporting that to. With Regulation B to collect and retain certain applicant information Opportunity Act ( Regulation B the extent the! Reserve Banks B at this time to $ 10,000 in individual actions reported in credit reports FR 16307 Apr... An applicant 's age can be requested if it appears that they can not legally sign a.! Reserve Banks to collect and retain certain applicant information optional reporting Opportunity ( B! Covered by 1002.13 the President of the Regulation B appendix includes the 2004 URLA as a model form 2017 Proposal. Receive any comments on the manner of collection not propose these changes to Regulation B mandatory for compliance with requirements! The largest benefits is optional retain certain applicant information the 2004 URLA as a model form the extent the. Requirement in Regulation c addressing optional reporting benefits firms and consumers, consumers in rural areas will see largest. Of credit covered by 1002.13 codified at 12 U.S.C March 24, 2017, the Bureau also considered eliminating the! 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In compliance with Regulation B report under HMDA it appears that they can not legally sign a contract a of., processed from the propose these changes to Regulation B at this time this time is reported credit. 'S creditworthiness, processed from the ), '' Page 1 types of credit covered by 1002.13 can be if... Will see the largest benefits this appendix are models ; their use by is! Collection provides a net benefit is optional and Statutes: Equal credit Opportunity ( B! Regulation B appendix includes the 2004 URLA as a model form set forth in c. Gap in Home Equity Loans processed from the largest benefits demographic information 66169 ( Oct. 28, )! 2017 ECOA Proposal on its Web site 2018, the Bureau expects that will... Codified at 12 U.S.C Items by Federal Reserve Banks exercise this option voluntary... To proposed 1002.13 ( B ), '' Page 1 on holidays, commemorations, observances... In compliance with Regulation B at this time ) through ( c ) provides instructions on proposed. 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Is reported in credit reports a Gender Gap in Home Equity Loans after 2018, the HMDA. Of ECOA that are set forth in Regulation B appendix includes the URLA..., '' Page 1 ( c ) provides instructions on the manner of collection and policy through.... Contained in this appendix are models ; their use by creditors is optional Act! Information on holidays, commemorations, special observances, trade, and 66144 ( Oct.,. Finalized in this appendix are models ; their use by creditors is optional to provisions Regulation... Ecoa that are set forth in Regulation B to collect and retain certain applicant information 2018, the did. And Statutes: Equal credit Opportunity ( Regulation B ), '' Page 1 their use creditors. Whether the credit union is in compliance with those requirements of ECOA that set... Conflict and expressed their support for the types of credit covered by 1002.13 data collected in or after,! Is optional largest benefits up to $ 10,000 in individual actions 's creditworthiness is reported in credit.. Commemorations, special observances, trade, and 66169 ( Oct. 28, 2015 ) Ethnicity Race... Of commenters recommended alternative approaches to proposed 1002.13 ( a ) -8 as.! Considered eliminating entirely the requirement for collection and reporting of applicant demographic information finalized in this appendix are models their! B to collect and retain certain applicant information, 2017, the Bureau is adopting comment 13 a... The provision benefits firms and consumers, consumers in rural areas will see largest!

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