Regulation B (Equal Credit Opportunity)

The Federal Trade Commission (FTC) seeks renewed clearance for the information collection requirements associated with the enforcement of the Consumer Financial Protection Bureau's (CFPB) Regulation B. The Regulation, among other things, requires entities that regularly extend credit to retain records sufficient to show compliance with the Regulation, to provide applicants with information about adverse credit actions, and to give notice to mortgage credit applicants regarding appraisal reports. Given their generally shared enforcement jurisdiction for Regulation B under the Dodd-Frank Act, the CFPB and the FTC have divided the FTC’s previously cleared PRA burden between them, except that the FTC has wholly assumed all of the burden estimates associated with motor vehicle dealers and is also doing so, when appropriate, regarding estimated burden for state-chartered credit unions. In 2023, the CFPB amended Regulation B, to create Subparts A and B, in implementing amendments mandated by Section 1071 of the Dodd Frank Act, 12 U.S.C. 1691c-2, pertaining to small business lending, including for small businesses owned by women or minorities. As a result, Regulation B, Subpart A, now contains the prior Regulation B requirements; Regulation B, Subpart B, contains the new small business lending requirements. There are no other changes in the recordkeeping or disclosure requirements.

The latest form for Regulation B (Equal Credit Opportunity) expires 2028-01-31 and can be found here.

General recordkeeping for credit firms

Federal Enterprise Architecture: Economic Development - Business and Industry Development