Equal Credit Opportunity Act (Regulation B)

ICR 202208-3170-001

OMB: 3170-0013

Federal Form Document

Forms and Documents
Supporting Statement A
Supplementary Document
Supplementary Document
ICR Details
3170-0013 202208-3170-001
Received in OIRA 201905-3170-005
Equal Credit Opportunity Act (Regulation B)
Extension without change of a currently approved collection   No
Regular 08/16/2022
  Requested Previously Approved
36 Months From Approved 08/31/2022
258,916,000 82,666,000
1,259,448 1,220,992
0 0

Equal Credit Opportunity Act (“ECOA”) was enacted to ensure that credit is made available to all creditworthy applicants without discrimination on the basis of sex, marital status, race, color, religion, national origin, age, or other prohibited bases under the ECOA. The ECOA allows for creditors to collect information for self-testing against these criteria, while not allowing creditors to use this information in making credit decisions of applicants. For certain mortgage applications, the ECOA requires creditors to ask for some of the prohibited information for monitoring purposes. In addition, for certain mortgage applications, creditors are required to send a copy of any appraisal or written valuation used in the application process to the applicant in a timely fashion. ECOA also prescribes that creditors inform applicants of decisions made on credit applications. In particular, where creditors make adverse actions on credit applications or existing accounts, creditors must inform consumers as to why the adverse action was taken, such that credit applicants can challenge errors or learn how to become more creditworthy. Creditors must retain all application information for 25 months, including notices they sent and any information related to adverse actions. ECOA requires creditors who furnish applicant information to a consumer reporting agency to reflect participation of the applicant’s spouse, if the spouse if permitted to use or contractually liable on the account.

PL: Pub.L. 111 - 203 1376 Name of Law: Dodd-Frank Wall Street Reform and Consumer Protection Act
   US Code: 15 USC 1591 Name of Law: Equal Credit Opportunity Act

Not associated with rulemaking

  87 FR 31538 05/24/2022
87 FR 49810 08/12/2022

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 258,916,000 82,666,000 0 0 176,250,000 0
Annual Time Burden (Hours) 1,259,448 1,220,992 0 0 38,456 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
The Bureau is making no program changes to this information collection. However, the Bureau is adjusting the burden estimate of OMB Control Number 3170-0013. Specifically, the number of responses increased from 86,666,000 to 258,916,000 (an increase of 198%). This increase is due entirely to a reexamination and re-estimation of response rates. There is also a small increase of the annual time burden from 1,220,992 to 1,259,448 (an increase of 3%). This is also due to reexamination of the same requirements with no program changes imposed.

Lucas Nathe 202 435-7635


On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

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