Bureau updates filing instructions for small-business lending data

August 17, 2023 CFPB 0

A update to the filing instructions for small-business lending data was released Thursday by the federal consumer financial protection agency.

According to the Consumer Financial Protection Bureau (CFPB), the update includes:

Reordering of certain demographic information codes to better correlate with Home Mortgage Disclosure Act (HMDA) data, per request from industry,
Minor wording clarifications to the pricing information data point, and
Minor administrative updates to the validation IDs.

More specifically, CFPB said, the updates:

Include validation IDs updates from name codes to alphanumeric codes. For example, the previous validation ID: uid.invalid_text_length is now E0002 and uid.invalid_text_length is now listed as the validation name.
Changed the Race/Ethnicity Enumeration for Demographic information of principal owner 1: Ethnicity field 46 and Race field 48 for consistency with HMDA enumeration order.
Changed all Interest Rate fields, columns, and validation names that mention “Variable Rate” changed to “Adjustable Rate” for consistency with the regulation.

Small Business Lending Data Updates

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