To amend the Equal Credit Opportunity Act to modify the requirements associated with small business loan data collection, and for other purposes.
Summary
What This Bill Does
The bill requires short title This Act may be cited as the Small Lenders Exempt from New Data and Excessive Reporting Act or the Small LENDER Act and requires small business loan data collection Section 704B of the Equal Credit Opportunity Act (15 U.S.C. It relies on reporting requirements, exemptions, definition changes, and compliance mandates. The main policy areas are Financial Services and Finance.
Who Benefits and How
Financial services firms and customers affected by the bill could face lower compliance burdens, Businesses and employers affected by the bill could face lower compliance burdens, and Public beneficiaries or protected communities affected by the clause could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Financial services firms and customers affected by the bill would take on compliance duties, and Businesses and employers affected by the bill would take on compliance duties.
Key Provisions
- Requires short title This Act may be cited as the Small Lenders Exempt from New Data and Excessive Reporting Act or the Small LENDER Act.
- Requires small business loan data collection Section 704B of the Equal Credit Opportunity Act (15 U.S.C.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires short title This Act may be cited as the Small Lenders Exempt from New Data and Excessive Reporting Act or the Small LENDER Act and requires small business loan data collection Section 704B of the Equal Credit Opportunity Act (15 U.S.C.
Key Policy Areas
Financial Services, Finance
Primary Purpose
The bill requires short title This Act may be cited as the Small Lenders Exempt from New Data and Excessive Reporting Act or the Small LENDER Act and requires small business loan data collection Section 704B of the Equal Credit Opportunity Act (15 U.S.C.
Policy Domains
Whole bill
Identified Gains
- Financial services firms and customers affected by the bill
- Businesses and employers affected by the bill
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Financial services firms and customers affected by the bill
- Businesses and employers affected by the bill
- Public beneficiaries or protected communities affected by the clause
Sponsors
Legislative Progress
IntroducedMr. Boozman (for himself, Mr. Daines, Ms. Lummis, Mr. Cramer, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
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.
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