1071 Repeal to Protect Small Business Lending Act
Introduced Feb 12, 2025 by Sen. John Kennedy
It's waiting on a committee vote to reach the full chamber. Most bills never leave this stage.
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.
Summary by the Congressional Research Service.
No floor votes yet — it hasn't reached the floor of either chamber.