To repeal the small business loan data collection requirements under the Equal Credit Opportunity Act.
Sponsors
Legislative Progress
ReportedAdditional sponsors: Ms. Hageman, Mr. Murphy, Mr. Graves, Mr. Guest, …
Reported with an amendment, committed to the Committee of the …
Mr. Williams of Texas (for himself, Mr. Huizenga, Mr. Flood, …
Summary
What This Bill Does
Repeals Section 1071 of Dodd-Frank, which requires lenders to collect and report demographic data on small business loan applicants. Eliminates compliance requirements before they take effect.
Who Benefits and How
Community banks and credit unions avoid significant compliance costs. Small lenders avoid data collection burden. Financial institutions save on implementation expenses.
Who Bears the Burden and How
Civil rights groups lose data to identify lending discrimination. Small business lending patterns become less transparent. Policymakers lose information on credit access disparities.
Key Provisions
- Fully repeals Section 704B of Equal Credit Opportunity Act
- Eliminates small business loan data collection requirements
- Removes related provisions from Dodd-Frank Act
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Repeals Section 1071 small business loan data collection requirements from Dodd-Frank Act
Policy Domains
Legislative Strategy
"Eliminate small business lending data requirements"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology