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PRIVACY IMPACT ASSESSMENTJUNE 30, 2015General Support System Does the CFPB use the information to benefit or make a determination about an individual? What is the purpose? No. Store and Transmit all
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The CFPB's Form CFPB Use is typically needed by individuals who are seeking assistance or intervention from the Consumer Financial Protection Bureau (CFPB) in resolving a consumer financial issue.
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The form used by the Consumer Financial Protection Bureau (CFPB) is typically referred to in the context of various financial disclosures, such as the HMDA (Home Mortgage Disclosure Act) forms, which collect data on mortgage lending.
Lenders and financial institutions that meet certain criteria regarding the volume of mortgage loans are required to file reports with the CFPB, particularly under the HMDA.
To fill out the CFPB form, organizations must collect relevant data concerning mortgage applications, such as loan types, applicant demographics, and geographical information, and then submit them electronically through the CFPB's portal.
The purpose of the CFPB forms is to promote transparency in the lending process and to ensure compliance with fair lending laws by collecting data on mortgage lending practices.
Required information typically includes loan amounts, borrower demographics (race, ethnicity, gender), loan type, property location, and whether the application was approved or denied.
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