S. 557 · 119th Congress
1071 Repeal to Protect Small Business Lending Act
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KennedySponsor15 cosponsors · 15 R
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Boozman
JB
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Barrasso
TC
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Cruz
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Daines
JE
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Ernst
CH
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Hyde-Smith
MR
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Rounds
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Wicker
PR
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Ricketts
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Britt
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Husted
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Moran
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Grassley
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Crapo
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Risch8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill repeals the statute that requires financial institutions to collect data regarding applications for women-owned, minority-owned, or small business loans.
What it does: CRS summary · Introduced in Senate · Feb 12, 2025
1071 Repeal to Protect Small Business Lending Act
This bill repeals the statute that requires financial institutions to collect data regarding applications for women-owned, minority-owned, or small business loans. Currently, financial institutions must collect and report to the Consumer Financial Protection Bureau information on (1) how many applications were received; (2) the disposition of each application; (3) the type of loan; (4) the amount applied for; (5) the amount approved; and (6) each applicant’s census tract, revenue, race, sex, and ethnicity.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: 1071 Repeal to Protect Small Business Lending Act
Latest action (Feb 12, 2025): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Feb 12, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.