Bureau updates filing instructions for small-business lending data

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