![]() If the applicant(s) chooses not to provide the information or any part of it, that fact shall be noted on the form. The applicant(s) shall be asked but not required to supply the requested 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. The regulation also requires creditors to notify applicants of action taken on their applications to report credit history in the names of both spouses on an account to retain records of credit applications to collect information about the applicant's race and other personal characteristics in applications for certain dwelling-related loans and to provide applicants with copies of appraisal reports used in connection with credit transactions. The regulation prohibits creditor practices that discriminate on the basis of any of these factors. The purpose of this part is to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract) to the fact that all or part of the applicant's income derives from a public assistance program or to the fact that the applicant has in good faith exercised any right under the Consumer Credit Protection Act. Tolerances for Bona Fide Errors in Data Reported Under Subpart Bįederal Agencies to be Listed in Adverse Action Notices ![]() Sample Form for Collecting Certain Applicant-Provided Data Under Subpart B Publication of data and other disclosures.Įffective date, compliance date, and special transitional rules. Incentives for self-testing and self-correction.Ĭovered credit transactions and excluded transactions.Ĭovered financial institutions and exempt institutions. Rules on providing appraisals and other valuations. Rules concerning evaluation of applications. Rules concerning requests for information. Limited exceptions for certain classes of transactions. Equal Credit Opportunity Act (Regulation B)
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