(i) A creditor that is a financial institution
under 12 CFR 1003.2(g) may collect information regarding the ethnicity,
race, and sex of an applicant for a closed-end mortgage loan that
is an excluded transaction under 12 CFR 1003.3(c)(11) if it submits
HMDA data concerning such closed-end mortgage loans and applications
or if it submitted HMDA data concerning closed-end mortgage loans
for any of the preceding five calendar years;
(ii) A creditor that is a financial
institution under 12 CFR 1003.2(g) may collect information regarding
the ethnicity, race, and sex of an applicant for an open-end line
of credit that is an excluded transaction under 12 CFR 1003.3(c)(12)
if it submits HMDA data concerning such open-end lines of credit and
applications or if it submitted HMDA data concerning open-end lines
of credit for any of the preceding five calendar years;
(iii) A creditor that submitted
HMDA data for any of the preceding five calendar years but is not
currently a financial institution under 12 CFR 1003.2(g) may collect
information regarding the ethnicity, race, and sex of an applicant
for a loan that would otherwise be a covered loan under 12 CFR 1003.2(e)
if not excluded by 12 CFR 1003.3(c)(11) or (12);
(iv) A creditor that exceeded an applicable
loan volume threshold in the first year of the two-year threshold
period provided in 12 CFR 1003.2(g), 1003.3(c)(11), or 1003.3(c)(12)
may, in the second year, collect information regarding the ethnicity,
race, and sex of an applicant for a loan that would otherwise be a
covered loan under 12 CFR 1003.2(e) if the loan were not excluded
by 12 CFR 1003.3(c)(11) or (12);
(v) A creditor that is a financial institution
under 12 CFR 1003.2(g), or that submitted HMDA data for any of the
preceding five calendar years but is not currently a financial institution
under 12 CFR 1003.2(g), may collect information regarding the ethnicity,
race, and sex of an applicant for a loan that would otherwise be a
covered loan under 12 CFR 1003.2(e) if the loan were not excluded
by 12 CFR 1003.3(c)(10).
(vi) A creditor that is collecting information
regarding the ethnicity, race, and sex of an applicant or first co-applicant
may collect information regarding the ethnicity, race, and sex of
a second or additional co-applicant for a covered loan under 12 CFR
1003.2(e) or for a second or additional co-applicant for a loan described
in paragraphs (a)(4)(i) through (v) of this section.
(vii) A creditor that was required to
report small business lending data pursuant to section 1002.109 for
any of the preceding five calendar years but is not currently a covered
financial institution under section 1002.105(b) may collect information
pursuant to subpart B of this part for covered applications from small
businesses as defined in sections 1002.103 and 1002.106(b) regarding
whether an applicant is a minority-owned business, a women-owned business,
or an LGBTQI+-owned business, and the ethnicity, race, and sex of
the applicant’s principal owners if it complies with the requirements
for covered financial institutions pursuant to sections 1002.107(a)(18)
and (19), 1002.108, 1002.111, and 1002.112 for that application. Such
a creditor is permitted, but not required, to report data to the Bureau
collected pursuant to subpart B of this part if it complies with the
requirements of subpart B as otherwise required for covered financial
institutions pursuant to sections 1002.109 and 1002.110.
(viii) A creditor that exceeded the
loan-volume threshold in the first year of the two-year threshold
period provided in section 1002.105(b) may, in the second year, collect
information pursuant to subpart B of this part for covered applications
from small businesses as defined in sections 1002.103 and 1002.106(b)
regarding whether an applicant is a minority-owned business, a women-owned
business, or an LGBTQI+-owned business, and the ethnicity, race, and
sex of the applicant’s principal owners if it complies with
the requirements for covered financial institutions pursuant to sections
1002.107(a)(18) and (19), 1002.108, 1002.111, and 1002.112 for that
application. Such a creditor is permitted, but not required, to report
data to the Bureau collected pursuant to subpart B of this part if
it complies with the requirements of subpart B as otherwise required
for covered financial institutions pursuant to sections 1002.109 and
1002.110.
(ix) A creditor that
is not currently a covered financial institution under section 1002.105(b),
and is not otherwise a creditor to which section 1002.5(a)(4)(vii)
or (viii) applies, may collect information pursuant to subpart B of
this part for covered applications from small businesses as defined
in sections 1002.103 and 1002.106(b) regarding whether an applicant
for a covered credit transaction is a minority-owned business, a women-owned
business, or an LGBTQI+-owned business, and the ethnicity, race, and
sex of the applicant’s principal owners for a transaction if
it complies with the requirements for covered financial institutions
pursuant to sections 1002.107 through 1002.112 for that application.
(x) A creditor that is collecting
information pursuant to subpart B of this part or as described in
paragraphs (a)(4)(vii) through (ix) of this section for covered applications
from small businesses as defined in sections 1002.103 and 1002.106(b)
regarding whether an applicant for a covered credit transaction is
a minority-owned business, a women-owned business, or an LGBTQI+-owned
business, and the ethnicity, race, and sex of the applicant’s
principal owners may also collect that same information for any co-applicants
provided that it also complies with the relevant requirements of subpart
B of this part or as described in paragraphs (a)(4)(vii) through (ix)
of this section with respect to those co-applicants.
