H.R. 976 explained · 119th Congress · Pending in Congress
1071 Repeal to Protect Small Business Lending Act
Cosponsors: 52 (0 D, 52 R) · per Congress.gov, 2026-10-11
Introduced: 2025-02-04
Latest action (2025-05-06): Placed on the Union Calendar, Calendar No. 65.
What H.R. 976 does, in plain terms
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.
Official summary by the Congressional Research Service, via Congress.gov.
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