Bill · H.R. 2885· House(119-HR-2885)
Bank Loan Privacy Act
- Introduced
- 4/10/2025
- Last activity
- 4/10/2025 — Referred to the House Committee on Financial Services.
- Sponsored by
- John Rose
- Cosponsors
- - 2 - 0
- Introduced
- In Committee
What this bill would do
This bill, titled the "Bank Loan Privacy Act," targets the Bureau of Consumer Financial Protection. It seeks to change how the Bureau handles certain small business loan data. Specifically, it requires the Bureau to issue a formal rule before it can delete or modify such data. This new process must include an advance notice and comment period. The rule must also describe the intended changes and explain how they help privacy interests.
Yes· 3 of 7
Does this make what the government does easier for the public to see?+5
The bill increases transparency by requiring advance notice and comment for data modifications.
Does this protect people from being watched or searched?+5
It strengthens privacy by ensuring data changes are justified and subject to public comment.
Does this give people more control over their personal data?+5
The bill enhances data privacy protections by requiring the Bureau to justify modifications or deletions of small business loan data.
The opposite
Does this give the federal government more power?-2
The bill slightly restricts the unilateral authority of a federal agency by imposing new rulemaking requirements.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Transparency: Under Section 2, the Bureau would be required to issue a rule that includes a description of what modifications and deletions it intends to make to the data. This provides people with clear information about changes being made.
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Public Input Opportunity: Section 2 mandates that the Bureau must use an "advance notice and comment" process. This allows individuals or groups to have a voice before data is changed or deleted.
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Privacy Justification: According to Section 2, any new rule must explain "how such modifications and deletions will advance a privacy interest." This ensures that the Bureau must justify its actions based on protecting privacy.
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Improves Government Transparency+5Improves Privacy Rights+5Improves Due Process+3Increases Federal Power-2
- Economy And Finance
- Improves Consumer Protection+4Improves Small Business Support+3
- Education And Technology
- Improves Data Privacy+5
- Demographic And Interest Groups
- Good For Business Owners+4
- 5/20/2025
- 1 Cosponsor added.
- 4/10/2025
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
Andy BarrRepublican · Kentucky
Monica De La CruzRepublican · Texas