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Did the CFPB clarify when an applicant does not provide race, ethnicity, or sex information, whether the bank should report on the Loan Application Register (1) that this information was not collected or (2) that the requirement to report this data field is not applicable?

Under the Home Mortgage Disclosure Act and Regulation C, there was confusion about when a natural person applicant submits a mail, internet, or telephone application but does not provide race, ethnicity, or sex information, and whether the bank should report on the Loan Application Register (1) that this information was not collected on the basis of visual observation or surname (code 2) or (2) that the requirement to report this data field is not applicable (code 3). Did the Consumer Financial Protection Bureau (Bureau) ever clarify this?

Yes, the Bureau provided an updated FAQ on March 6, 2020, that answers this question. For data consistency, the Bureau suggests, but does not require, that banks report code 2, that this information was not collected on the basis of visual observation or surname. Thus, code 2 appears to be the preference but banks are allowed to report code 3. (April 2020)

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