S. 557

119th Congress

In Committee

1071 Repeal to Protect Small Business Lending Act

Sponsored byRepublican:Sen. Kennedy, John [R-LA]LA· Introduced 12 February 2025
Open on Congress.gov

15

Cosponsors

2

Actions

0

Amendments

0

Committees

—

Since introduced

Introduced
Committee
Passed Chamber
Passed Both
Enacted
Step 1 of 0
Latest action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

12 February 2025·1 year ago

Summary

Introduced in Senate · Updated 29 September 2025

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.

Timeline

2 actions

  1. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    12 February 2025 · IntroReferral

  2. Introduced in Senate

    12 February 2025 · IntroReferral

Sponsorship

15 cosponsors

Sponsor

Republican:Sen. Kennedy, John [R-LA]LA

Cosponsors

  • Republican15100%

Classification

Policy area

Finance and Financial Sector

Legislative subjects

Banking and financial institutions regulationConsumer creditSmall business

Cosponsor momentum

Cumulative over time

Cosponsors grew from 8 on 12 February 2025 to 15 on 2 June 2025.

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