1071 Repeal to Protect Small Business Lending Act
The summary
What this bill does
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.
Legislative timeline
From introduction
Feb 12, 2025
Introduced & referred to committee
Congressional support
Sponsors & Cosponsors
U.S. Representative - LA · R-LA
15 cosponsors
U.S. Representative - MS · R-MS
U.S. Representative - IA · R-IA
U.S. Representative - AR · R-AR
U.S. Representative - MS · R-MS
U.S. Representative - WY · R-WY
U.S. Senator - South Dakota · R-SD
U.S. Representative - MT · R-MT
U.S. Representative - TX · R-TX
U.S. Representative - NE · R-NE
U.S. Representative - AL · R-AL
Member of Congress · R-OH
U.S. Representative - KS · R-KS
+ 3 more cosponsors
Roll-call vote
The vote, by member
The vote, by member
VERSION CHANGES
What changed,
and where.
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Bill Metadata
| Congress | 119 |
| Bill Type | S |
| Bill Number | 557 |
| Origin Chamber | Senate |
| Current Status | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Policy Area | Finance and Financial Sector |
| Primary Committee | Not assigned |
| Introduced | February 12, 2025 |
| Latest Action | February 12, 2025 |
| Cosponsors | 15 · House vote — · — views |