Which law requires monthly reporting of the ethnicity, race, and sex of mortgage applicants?

The Home Mortgage Disclosure Act (HMDA) is the law that mandates lenders to collect and report data regarding the ethnicity, race, and sex of mortgage applicants. This reporting requirement is designed to ensure fair lending practices and to allow for the monitoring of discrimination in housing finance. By collecting this demographic information, HMDA helps regulators and the public identify potential disparities in lending patterns among different groups.

The primary goal of the HMDA is to provide the public with the information necessary to assess how well financial institutions are serving the housing needs of their communities. By making the lending data publicly available, it promotes transparency and accountability among lenders, which is essential for maintaining trust in the mortgage system.

In contrast, the other laws mentioned serve different purposes. The Truth in Lending Act focuses on the transparency of the costs associated with borrowing, while the Gramm-Leach-Bliley Act is concerned with financial privacy and the sharing of consumer information. The Equal Credit Opportunity Act addresses discrimination in lending but does not specifically require the collection and reporting of the demographic data mandated by HMDA. Thus, the Home Mortgage Disclosure Act is the correct choice for this question.