12 C.F.R. § 1002.111
§ 1002.111 Recordkeeping. (12 CFR Part 1002)
Operative Text
(a) Record retention. A covered financial institution shall retain evidence of compliance with this subpart, which includes a copy of its small business lending application register, for at least three years after the register is required to be submitted to the Bureau pursuant to § 1002.109. (b) Certain information kept separate from the rest of the application. A financial institution shall maintain, separately from the rest of the application and accompanying information, an applicant's responses to the financial institution's inquiries pursuant to this subpart regarding whether an applicant for a covered credit transaction is a minority-owned business and/or a women-owned business under § 1002.107(a)(18), and regarding the ethnicity, race, and sex of the applicant's principal owners under § 1002.107(a)(19). (c) Limitation on personally identifiable information in certain records retained under this section. In reporting a small business lending application register pursuant to § 1002.109, maintaining the register pursuant to paragraph (a) of this section, and maintaining a separate record of information pursuant to paragraph (b) of this section, a financial institution shall not include any name, specific address, telephone number, email address, or any other personally identifiable information concerning any individual who is, or is connected with, an applicant, other than as required pursuant to § 1002.107 or paragraph (b) of this section.
Under 12 CFR Part 1002 § 1002.111, covered financial institutions are required to keep records proving they followed the small business lending data collection rules, including their small business lending application registers, for a minimum of three years after those registers are submitted to the Consumer Financial Protection Bureau. Certain sensitive applicant information—specifically responses about minority-owned or women-owned business status and the ethnicity, race, and sex of principal owners—must be stored separately from the rest of the loan application file. Additionally, the records and registers maintained under this section must be stripped of personally identifiable information such as names, addresses, phone numbers, and email addresses, except where the rules themselves specifically require such details.
Plain English — not legal advice.
This provision does not directly govern landlord-tenant relationships, but property owners who operate as covered financial institutions or who apply for covered credit transactions should be aware that § 1002.111 governs how lenders handling small business loan applications are expected to manage their records. A compliant lender generally maintains a complete small business lending application register for at least three years post-submission, stores demographic and ownership-status responses in a file physically or logically separated from the main application, and scrubs personally identifiable information from retained registers and reports. Operators in the lending space typically build internal data governance procedures that reflect these three distinct recordkeeping obligations.
General guidance for property managers — not legal advice for your specific situation. Consult an attorney for advice on your case.
Small business owners or applicants who applied for covered credit may have an interest in how their data was handled under § 1002.111, particularly the requirement that sensitive demographic responses be kept separate from the main application file and that personally identifiable information be excluded from reported registers. If an applicant believes a financial institution failed to follow these recordkeeping requirements, general enforcement paths can include filing a complaint with the Consumer Financial Protection Bureau, which oversees compliance with this subpart. Tenant-rights organizations or small business advocacy groups may be able to help applicants understand whether the protections under § 1002.111 were observed in their situation.
General guidance for tenants — not legal advice for your specific situation. Consult a tenant-rights organization or attorney for advice on your case.
Generated September 4, 2026 — auto-generated, not yet human-reviewed. See /transparency for methodology.
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