Adds a demographic information hash to the Persons API
What’s new
Introduces the us_
hash in the Persons API, which contains two sub-hashes, ethnicity_
and race_
, and a free text field for the person’s self-identified gender. Each sub-hash includes fields, allowing for multiple enum values and free text input to describe the person’s ethnicity or race.
This change complies with Section 1071 of the Dodd-Frank Act, which requires providers of small business financing in the US to collect demographic information about applicants. Stripe’s financial partners report this information to the CFPB, which analyzes potential disparities in business financing. The information shared with the CFPB is anonymized to protect the identity of applicants.
curl https://api.stripe.com/v1/accounts/acct_xxxxx/persons \ -u "sk_test_4eC39HqLyjWDarjtT1zdp7dc:" \ -d us_cfpb_data[self_identified_gender]=female \ -d us_cfpb_data[ethnicity_details][ethnicity][]=not_hispanic_or_latino \ -d us_cfpb_data[race_details][race][]=white
Impact
This addition ensures compliance with Regulation 1071 by requiring providers of small business financing to collect demographic information about applicants for financing.