119th Congress
S. 557
1071 Repeal to Protect Small Business Lending Act
- Introduced
- In committee
- Passed Senate
- Passed House
- To President
- Became law
- Sponsor
- John Kennedy(R-LA)
- Introduced
- Feb 12, 2025
- Policy area
- Finance and Financial Sector
- Committees
- Senate Committee on Banking, Housing, and Urban Affairs
- Official text
- Introduced in Senate · Congress.gov page
Cosponsors (15)
Original cosponsors (8)
- Cindy Hyde-Smith (R-MS)
- John Barrasso (R-WY)
- John Boozman (R-AR)
- Joni Ernst (R-IA)
- Mike Rounds (R-SD)
- Roger F. Wicker (R-MS)
- Steve Daines (R-MT)
- Ted Cruz (R-TX)
Added later (7)
- Pete Ricketts (R-NE) · Feb 13, 2025
- Katie Boyd Britt (R-AL) · Feb 18, 2025
- Jon Husted (R-OH) · Mar 3, 2025
- Jerry Moran (R-KS) · Mar 31, 2025
- Chuck Grassley (R-IA) · Apr 28, 2025
- Mike Crapo (R-ID) · May 22, 2025
- James E. Risch (R-ID) · Jun 2, 2025
Summary
Summary by the Congressional Research Service· describes the “Introduced in Senate” version
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.
Roll-call votes
No recorded votes on this bill.
Actions
- Feb 12, 2025 · Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. - Feb 12, 2025
Introduced in Senate