Bill · H.R. 976· House(119-HR-976)

1071 Repeal to Protect Small Business Lending Act

Age: 77 years

Texas

Introduced: 2/4/2025
Last activity: 5/6/2025 — Placed on the Union Calendar, Calendar No. 65.
Sponsored by: Roger Williams
Cosponsors: - 52 - 0

Finance and Financial Sector

Introduced
On Calendar

What this bill would do

This bill, known as the 1071 Repeal to Protect Small Business Lending Act, aims to repeal small business loan data collection requirements. Specifically, it seeks to repeal Section 704B of the Equal Credit Opportunity Act. These requirements were originally added by section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The legislation includes various conforming amendments to the Dodd-Frank Act and the Equal Credit Opportunity Act.

Yes· 3 of 4

Does this make it easier to run a small business?+5
The bill repeals data collection requirements to reduce regulatory barriers for small businesses.
Would business owners be better off under this?+5
The bill seeks to increase credit access and reduce compliance costs for small business owners.
Is this likely to create jobs?+2
The bill aims to increase access to credit for small businesses which can support job creation.

The opposite· 3 of 6

Would Black Americans be better off under this?-3
The removal of required loan data collection may hinder efforts to ensure equitable lending for Black Americans.
Would Hispanic Americans be better off under this?-3
Reducing data collection may limit visibility into credit access disparities for Hispanic communities.
Would Asian Americans be better off under this?-3
The loss of data collection requirements may impact tracking of lending equity for Asian Americans.