§ 1002.107 Compilation of reportable data. ( a ) *Data format and itemization.* A covered financial institution shall compile and maintain data regarding covered applications from small businesses. The data shall be compiled in the manner prescribed herein and the Filing Instructions Guide for this subpart for the appropriate year. The data compiled shall include the items described in paragraphs (a)(1) through (20) of this section. ( 1 ) *Unique identifier.* An alphanumeric identifier, starting with the legal entity identifier of the financial institution, unique within the financial institution to the specific covered application, and which can be used to identify and retrieve the specific file or files corresponding to the application for or extension of credit.
( 2 ) *Application date.* The date the covered application was received or the date shown on a paper or electronic application form.
( 3 ) *Application method.* The means by which the applicant submitted the covered application directly or indirectly to the financial institution.
( 4 ) *Application recipient.* Whether the applicant submitted the covered application directly to the financial institution or its affiliate, or whether the applicant submitted the covered application indirectly to the financial institution via a third party.
( 5 ) *Credit type.* The following information regarding the type of credit applied for or originated: ( i ) *Credit product.* The credit product.
( ii ) *Guarantees.* The type or types of guarantees that were obtained for an extension of credit, or that would have been obtained if the covered credit transaction were originated.
( iii ) *Loan term.* The length of the loan term, in months, if applicable.
( 6 ) *Credit purpose.* The purpose or purposes of the credit applied for or originated.
( 7 ) *Amount applied for.* The initial amount of credit or the initial credit limit requested by the applicant.
( 8 ) *Amount approved or originated.* ( i ) For an application for a closed-end credit transaction that is approved but not accepted, the amount approved by the financial institution; or
( ii ) For a closed-end credit transaction that is originated, the amount of credit originated; or
( iii ) For an application for an open-end credit transaction that is originated or approved but not accepted, the amount of the credit limit approved.
( 9 ) *Action taken.* The action taken by the financial institution on the covered application, reported as originated, approved but not accepted, denied, withdrawn by the applicant, or incomplete.
( 10 ) *Action taken date.* The date of the action taken by the financial institution.
( 11 ) *Denial reasons.* For denied applications, the principal reason or reasons the financial institution denied the covered application.
( 12 ) *Pricing information.* The following information regarding the pricing of a covered credit transaction that is originated or approved but not accepted, as applicable: ( i ) *Interest rate.* ( A ) If the interest rate is fixed, the interest rate that is or would be applicable to the covered credit transaction; or
( B ) If the interest rate is adjustable, the margin, index value, initial rate period expressed in months (if applicable), and index name that is or would be applicable to the covered credit transaction;
( ii ) *Total origination charges.* The total amount of all charges payable directly or indirectly by the applicant and imposed directly or indirectly by the financial institution at or before origination as an incident to or a condition of the extension of credit, expressed in dollars;
( iii ) *Broker fees.* The total amount of all charges included in paragraph (a)(12)(ii) of this section that are fees paid by the applicant directly to a broker or to the financial institution for delivery to a broker, expressed in dollars;
( iv ) *Initial annual charges.* The total amount of all non-interest charges that are scheduled to be imposed over the first annual period of the covered credit transaction, expressed in dollars;
( v ) *Additional cost for merchant cash advances or other sales-based financing.* For a merchant cash advance or other sales-based financing transaction, the difference between the amount advanced and the amount to be repaid, expressed in dollars; and
( vi ) *Prepayment penalties.* ( A ) Notwithstanding whether such a provision was in fact included, whether the financial institution could have included a charge to be imposed for paying all or part of the transaction's principal before the date on which the principal is due under the policies and procedures applicable to the covered credit transaction; and
( B ) Notwithstanding the response to paragraph (a)(12)(vi)(A) of this section, whether the terms of the covered credit transaction do in fact include a charge imposed for paying all or part of the transaction's principal before the date on which the principal is due.
( 13 ) *Census tract.* The census tract in which is located: ( i ) The address or location where the proceeds of the credit applied for or originated will be or would have been principally applied; or
( ii ) If the information in paragraph (a)(13)(i) of this section is unknown, the address or location of the main office or headquarters of the applicant; or
( iii ) If the information in both paragraphs (a)(13)(i) and (ii) of this section is unknown, another address or location associated with the applicant.
( iv ) The financial institution shall also indicate which one of the three types of addresses or locations listed in paragraphs (a)(13)(i), (ii), or (iii) of this section the census tract is based on.
( 14 ) *Gross annual revenue.* The applicant's gross annual revenue for its preceding fiscal year.
( 15 ) *NAICS code.* A 3-digit North American Industry Classification System (NAICS) code for the applicant.
( 16 ) *Number of workers.* The number of non-owners working for the applicant.
( 17 ) *Time in business.* The time the applicant has been in business.
( 18 ) *Minority-owned, women-owned, and LGBTQI+-owned business statuses.* Whether the applicant is a minority-owned, women-owned, and/or LGBTQI+-owned business. When requesting minority-owned, women-owned, and LGBTQI+-owned business statuses from an applicant, the financial institution shall inform the applicant that the financial institution cannot discriminate on the basis of minority-owned, women-owned, or LGBTQI+-owned business statuses, or on whether the applicant provides this information.
( 19 ) *Ethnicity, race, and sex of principal owners.* The ethnicity, race, and sex of the applicant's principal owners. When requesting ethnicity, race, and sex information from an applicant, the financial institution shall inform the applicant that the financial institution cannot discriminate on the basis of a principal owner's ethnicity, race, or sex, or on whether the applicant provides this information.
( 20 ) *Number of principal owners.* The number of the applicant's principal owners.
( b ) *Reliance on and verification of applicant-provided data.* Unless otherwise provided in this subpart, the financial institution may rely on information from the applicant, or appropriate third-party sources, when compiling data. If the financial institution verifies applicant-provided data, however, it shall report the verified data.
( c ) *Time and manner of collection* — ( 1 ) *In general.* A covered financial institution shall not discourage an applicant from responding to requests for applicant-provided data under paragraph (a) of this section and shall otherwise maintain procedures to collect such data at a time and in a manner that are reasonably designed to obtain a response.
( 2 ) *Applicant-provided data collected directly from the applicant.* For data collected directly from the applicant, procedures that are reasonably designed to obtain a response shall include provisions for the following: ( i ) The initial request for applicant-provided data occurs prior to notifying an applicant of final action taken on a covered application;
( ii ) The request for applicant-provided data is prominently displayed or presented;
( iii ) The collection does not have the effect of discouraging an applicant from responding to a request for applicant-provided data; and
( iv ) Applicants can easily respond to a request for applicant-provided data.
( 3 ) *Procedures to monitor compliance.* A covered financial institution shall maintain procedures to identify and respond to indicia of potential discouragement, including low response rates for applicant-provided data.
( 4 ) *Low response rates.* A low response rate for applicant-provided data may indicate discouragement or other failure by a covered financial institution to maintain procedures to collect applicant-provided data that are reasonably designed to obtain a response.
( d ) *Previously collected data.* A covered financial institution is permitted, but not required, to reuse previously collected data to satisfy paragraphs (a)(13) through (20) of this section if: ( 1 ) To satisfy paragraphs (a)(13) and (a)(15) through (20) of this section, the data were collected within the 36 months preceding the current covered application, or to satisfy paragraph (a)(14) of this section, the data were collected within the same calendar year as the current covered application; and
( 2 ) The financial institution has no reason to believe the data are inaccurate.