[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 976 Reported in House (RH)]

<DOC>





                                                  Union Calendar No. 65
119th CONGRESS
  1st Session
                                H. R. 976

                          [Report No. 119-91]

 To repeal the small business loan data collection requirements under 
                   the Equal Credit Opportunity Act.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 4, 2025

   Mr. Williams of Texas (for himself, Mr. Huizenga, Mr. Flood, Mr. 
Meuser, Mrs. Wagner, Ms. De La Cruz, Mr. Nunn of Iowa, Mr. Downing, Mr. 
 Donalds, Mr. Haridopolos, Mr. Lucas, Mr. Garbarino, Mr. Finstad, Mr. 
   Moore of North Carolina, Mr. Barr, Mr. Collins, Mr. Davidson, Mr. 
Kustoff, Mr. Bergman, Ms. Tenney, Mr. Norman, Mr. Ogles, Mr. Ezell, Mr. 
Yakym, Mr. Jackson of Texas, Mr. Grothman, Mr. Loudermilk, Mr. Gill of 
 Texas, Mr. Taylor, and Ms. Van Duyne) introduced the following bill; 
       which was referred to the Committee on Financial Services

                              May 6, 2025

 Additional sponsors: Ms. Hageman, Mr. Murphy, Mr. Graves, Mr. Guest, 
 Mr. Sessions, Mr. Schmidt, Mr. Fitzgerald, Mr. Palmer, Mr. Stutzman, 
 Mr. Kelly of Mississippi, Mr. Johnson of South Dakota, Mr. Mann, Mr. 
   Smith of Nebraska, Mr. Cloud, Mr. Goldman of Texas, Mr. Carter of 
Texas, Mr. Self, Mr. Lawler, Mr. Rose, Mrs. Miller-Meeks, Mr. Van Drew, 
                        Mr. Alford, and Mr. Wied

                              May 6, 2025

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
    [For text of introduced bill, see copy of bill as introduced on 
                           February 4, 2025]


_______________________________________________________________________

                                 A BILL


 
 To repeal the small business loan data collection requirements under 
                   the Equal Credit Opportunity Act.


 


    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``1071 Repeal to Protect Small 
Business Lending Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) Section 704B of the Equal Credit Opportunity Act, as 
        added by section 1071 of the Dodd-Frank Wall Street Reform and 
        Consumer Protection Act, imposes data collection and reporting 
        requirements on financial institutions regarding small business 
        loans.
            (2) These requirements have resulted in increased 
        compliance costs for financial institutions, potentially 
        reducing access to credit for small businesses.
            (3) The regulatory burdens created by these requirements 
        disproportionately impact smaller financial institutions, such 
        as community banks and credit unions, which are critical to 
        small business lending.
            (4) Repealing these requirements will reduce regulatory 
        barriers and support greater access to credit for small 
        businesses.

SEC. 3. REPEAL OF THE SMALL BUSINESS LOAN DATA COLLECTION REQUIREMENTS.

    (a) In General.--Section 704B of the Equal Credit Opportunity Act 
(15 U.S.C. 1691c-2) is repealed.
    (b) Conforming Amendments.--
            (1) Dodd-frank wall street reform and consumer protection 
        act amendments.--The Dodd-Frank Wall Street Reform and Consumer 
        Protection Act (12 U.S.C. 5301 et seq.) is amended--
                    (A) in the table of contents in section 1(b) of 
                such Act, by striking the item relating to section 
                1071; and
                    (B) by striking section 1071.
            (2) Equal credit opportunity act amendments.--The Equal 
        Credit Opportunity Act (15 U.S.C. 1691 et seq.) is amended--
                    (A) in the table of contents for such Act, by 
                striking the item relating to section 704B; and
                    (B) in section 701(b)--
                            (i) in paragraph (3), by adding ``or'' at 
                        the end;
                            (ii) in paragraph (4), by striking ``; or'' 
                        and inserting a period; and
                            (iii) by striking paragraph (5).
                                                  Union Calendar No. 65

119th CONGRESS

  1st Session

                               H. R. 976

                          [Report No. 119-91]

_______________________________________________________________________

                                 A BILL

 To repeal the small business loan data collection requirements under 
                   the Equal Credit Opportunity Act.

_______________________________________________________________________

                              May 6, 2025

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed