Recordkeeping and Disclosure Requirements in Connection with Regulation B (Equal Credit Opportunity)

The requirements for this collection are contained in Regulation B – Equal Credit Opportunity, 12 C.F.R. Part 1202, issued by the Consumer Financial Protection Bureau (“CFPB”) pursuant to title VII (Equal Credit Opportunity Act) of the Consumer Credit Protection Act, as amended (15 U.S.C. 1601 et seq.). Section 1691(c) of the Equal Credit Opportunity Act (ECOA) designates the FDIC as having enforcement responsibilities in the case of state nonmember banks and state savings associations. ECOA and Regulation B prohibit discrimination in any aspect of a credit transaction because of race, color, religion, national origin, sex, martial status, age, receipt of public assistance, or having exercised a right under the Consumer Credit Protection Act. To aid in implementation of this prohibition, the statute and regulation also subject creditors to various mandatory disclosure requirements, notification provisions, credit history reporting, monitoring rules, and record keeping requirements. These requirements are triggered by specific events and disclosures must be provided within the time periods established by ECOA and the regulation.

The latest form for Recordkeeping and Disclosure Requirements in Connection with Regulation B (Equal Credit Opportunity) expires 2021-01-31 and can be found here.

Credit Reporting History (1002.10)

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