On May 4, 2017, WBA submitted a comment letter regarding CFPB’s proposed revisions in collecting race and ethnicity information under Regulation B. Overall, WBA supports the proposed revisions, as the revisions enable data collection harmonious with that of HMDA. Under the proposed amendments to Regulation B, lenders could follow the data collection categories set forth for the purposes of HMDA. Additionally, the revisions would allow lenders to collect race and ethnicity data, in certain instances, where it is not required.
View the proposed revisions here.
Read WBA's full comment letter here.