---
kind: "section"
citation: "12 C.F.R. § 338.5"
title: "12"
number: "338.5"
heading: "Purpose."
url: "https://uscodex.org/cfr/12/338.5"
---

# §338.5. Purpose.


The purpose of this subpart is two-fold. First, this subpart notifies all FDIC-supervised institutions of their duty to collect and retain certain information about a home loan applicant's personal characteristics in accordance with [12 CFR part 1002](/cfr/12/part1002.md) (Regulation B of the Bureau of Consumer Financial Protection) in order to monitor an institution's compliance with the Equal Credit Opportunity Act of 1974 ([15 U.S.C. 1691](/usc/15/1691.md) et seq.). Second, this subpart notifies certain FDIC-supervised institutions of their duty to maintain, update, and report a register of home loan applications in accordance with [12 CFR part 1003](/cfr/12/part1003.md) (Regulation C of the Bureau of Consumer Financial Protection), which implements the Home Mortgage Disclosure Act ([12 U.S.C. 2801](/usc/12/2801.md) et seq.).


## Notes

### Authority

Authority: 12 U.S.C. 1817, 1818, 1819, 1820(b), 2801 et seq.; 15 U.S.C. 1691 et seq.; 42 U.S.C. 3605, 3608; 12 CFR parts 1002, 1003; 24 CFR part 110.

### Source

Source: 86 FR 8088, Feb. 3, 2021, unless otherwise noted.