The bill would repeal federal requirements for financial institutions to collect and report data about small business loans. It would also remove related references from the Equal Credit Opportunity Act and the Dodd-Frank Act.
If you own a small business or work for a financial institution, the bill would remove these federal small business loan data collection and reporting requirements. The text does not describe other changes to loan applications or lending decisions.
The text gives no cost estimate or funding details. No publicly available information.
The bill's findings say the requirements add compliance costs, may reduce small businesses' access to credit, and weigh especially on smaller financial institutions. They state that repeal would reduce regulatory barriers and support access to credit.
No publicly available information.