To repeal the small business loan data collection requirements under the Equal Credit Opportunity Act.
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.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held
Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 22.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-91.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-91.
Placed on the Union Calendar, Calendar No. 65.
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