1. Short title This Act may be cited as the Protections in Consumer Lending Act . 2. Collection of demographic information (a) In general The Equal Credit Opportunity Act ( 15 U.S.C. 1691 et seq.) is amended by inserting after section 704B ( 15 U.S.C. 1691c–2 ) the following: 704C. Collection of demographic information (a) Definitions In this section— (1) the terms annual percentage rate and interest have the meanings given those terms in section 987(i) of title 10, United States Code; (2) the term covered transaction means— (A) the extension of credit with respect to the purchase of a motor vehicle; (B) the extension of credit with respect to which the annual percentage rate of interest imposed is greater than 36 percent; (C) the extension of credit— (i) in an amount that is less than $15,000; or (ii) with respect to which the period of repayment is less than 3 years; and (D) the opening of a credit card account; and (3) the term covered year means a year in which a creditor engages in a covered transaction. (b) Purpose; sense of Congress (1) Purpose The purpose of this section is to provide the Bureau and the public with data that can be used to— (A) help determine whether creditors are serving the credit-lending needs of the communities in which the creditors are located; and (B) assist in— (i) identifying possible discriminatory lending patterns; and (ii) enforcing antidiscrimination statutes, including this title. (2) Sense of Congress It is the sense of Congress that nothing in this section is intended to encourage unsound lending practices or the allocation of credit. (c) Collection of information (1) In general Subject to the other provisions of this section, after a creditor decides whether to approve an application submitted by an applicant with respect to a covered transaction, the creditor— (A) shall— (i) request from the applicant the information described in paragraph (2) with respect to the applicant