News Release 98-28

  Comptroller Commends Federal Reserve for Seeking
  Comment On Whether to Permit Voluntary Collection
  of Race and Gender Data

Comptroller of the Currency Eugene A. Ludwig commended
the Federal Reserve Board today for its decision to
seek comment on whether to propose that lenders be
allowed to collect race and gender data from consumer
and small business loan applicants.

"I know that bankers abhor discrimination," said Mr.
Ludwig. "But if banks aren't allowed to collect race
and gender data on loan applicants, how can managers
know whether their lending officers are fulfilling
their responsibilities to give all Americans equal
access to credit?"

The Comptroller urged the Federal Reserve to follow
up quickly on today's advance notice of proposed
rulemaking by proposing a regulation to permit
voluntary collection of race and gender data.

Mr. Ludwig noted that the concept discussed in the
advance notice of proposed rulemaking would not
require any institution to collect data.  However,
institutions that chose to do so would be permitted
to record information about a loan applicant's race or
gender. Currently, with the exception of mortgage
loans, Regulation B bars the collection of race
or gender data in most cases.

                                 # # #

The OCC charters, regulates and examines approximately
2,800 national banks and 66 federal branches of
foreign banks in the U.S., accounting for more thank
half the nation's banking assets.  Its mission is to
ensure a safe and sound and competitive national
banking system that supports the citizens, communities
and economy of the United States.