§ 1071 · Data collection
What data do you actually have to collect?
The 2026 revised rule requires roughly 13 data fields — a meaningful cut from the original 2023 rule's more expansive list.
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Key takeaways
- The 2026 revised rule requires roughly 13 data fields, down from the original 2023 rule's broader list.
- Demographic, pricing, and detailed denial-reason fields were removed or significantly reduced.
- Application details, credit type and amount, business profile, and geography are still required.
The original 2023 rule asked lenders to collect a long list of data points, including detailed demographic and pricing information. The May 2026 revised rule keeps the core transaction and business-profile data but removes or narrows several of the most burdensome fields — landing at approximately 13 required data fields for the initial covered group.
Field-by-field wording and edge cases (multi-applicant transactions, renewals, refinancings) are defined precisely in the rule text itself — use this page to understand the shape of what changed, and confirm exact field definitions against the Federal Register final rule before building a collection process.
How the field list changed from 2023 to 2026
| Data category | 2023 original rule | 2026 revised rule |
|---|---|---|
| Application & transaction identifiers | Required | Required |
| Credit type & amount | Required | Required |
| Business profile (revenue, NAICS code, workers, time in business) | Required | Required |
| Geography (census tract) | Required | Required |
| Denial reasons | Detailed, multi-reason taxonomy | Simplified to a single field |
| Demographic data (minority-, women-, LGBTQI+-owned status) | Required | Removed or significantly narrowed |
| Pricing data (interest rate, origination charges, broker fees) | Required | Removed or reduced |
This is the biggest practical difference between the original rule and the 2026 revision: less demographic and pricing infrastructure to build, though the core transaction-level reporting obligation remains.
Why this matters for your systems
Every one of these fields eventually flows into the annual SBLAR submission. If you're covered, the practical work is building a process to capture these fields at the point of application — well before the January 1, 2028 collection start date, so your first data set isn't assembled retroactively.
This is general information, not legal or compliance advice. Consult qualified counsel or a compliance professional for guidance specific to your institution.