Q: What is the Ethnicity and Race for Iranian borrowers?
A: According to the US Census Bureau, there is no wrong or right answer to identifying a person’s race and ethnicity. You can research this on the US Census website. Census data relies strictly on self identification, according to the race or races with which they most closely identify. Persons who report themselves as Hispanic can be of any race. Self-identification of a person’s race and ethnicity does not need to conform to any biological, anthropological, or genetic criteria. For HMDA purposes, you should report the ethnicity and race as each applicant identifies themselves in the Government Monitoring Information on the application. If you need to use visual observation to report race and ethnicity for Regulations B & C, then, the identification of the applicant’s race and ethnicity would be left to the interviewer’s observation of the borrower.
This Q&A was obtained from FDIC’s website, in a document entitled “November 16, 2010 FDIC Teleconference on Fair Lending Issues,” which may be found here: