WASHINGTON --A Federal Reserve Board governor and a leading community activist argued last week over whether regulators need race and gender data to thwart small-business loan discrimination.

The data reporting requirements are included in the revised Community Reinvestment Act proposal, which is out for public comment until Nov. 21. The proposed rules would require banks to report the race and gender of small-business applicants for loans of less than $1 million.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.