S 557
1071 Repeal to Protect Small Business Lending Act
Summary
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.
Bill status
- Status
- In committee
- Sponsor
- Sen. John Kennedy [R-LA]
- Cosponsors
- 15
- Policy area
- Finance and Financial Sector
- Introduced
- 2025-02-12
- Latest action
- 2025-02-12: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee referrals
Recent actions
- 2025-02-12: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2025-02-12: Introduced in Senate