12 CFR § 338.5 - Purpose.

---
identifier: "/us/cfr/t12/s338.5"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 338.5 - Purpose."
title_number: 12
title_name: "Banks and Banking"
section_number: "338.5"
section_name: "Purpose."
chapter_name: "FEDERAL DEPOSIT INSURANCE CORPORATION"
subchapter_number: "B"
subchapter_name: "REGULATIONS AND STATEMENTS OF GENERAL POLICY"
part_number: "338"
part_name: "FAIR HOUSING"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1817, 1818, 1819, 1820(b), 2801  15 U.S.C. 1691  42 U.S.C. 3605, 3608; 12 CFR parts 1002, 1003; 24 CFR part 110."
regulatory_source: "86 FR 8088, Feb. 3, 2021, unless otherwise noted."
cfr_part: "338"
---


# 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 (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 *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 (Regulation C of the Bureau of Consumer Financial Protection), which implements the Home Mortgage Disclosure Act (12 U.S.C. 2801 *et seq.*).