This story appeared in Bank Digest
The Consumer Financial Protection Bureau wants to make it easier for mortgage lenders to comply with the requirement that they collect information on loan applicants' race and ethnicity. Proposed amendments to Reg. B--Equal Credit Opportunity (12 CFR Part 1002) would allow lenders to use the updated Uniform Residential Loan Application form adopted by Fannie Mae and Freddie Mac in 2016, rather than the 2004 version currently included in Reg. B, and make other changes that would let lenders use more uniform practices, according to the CFPB. Comments on the proposal will be due within 30 days of its publication in the Federal Register.