S 557 119th Congress Senate Finance and Financial Sector Banking and financial institutions regulation Consumer credit Small business

1071 Repeal to Protect Small Business Lending Act

Introduced: February 12, 2025 Introduced by: Kennedy, John Republican · Louisiana See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Feb 12, 2025

Introduced in Senate

Feb 12, 2025

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

Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

Plain-English summary Congressional Research Service

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.

What's happening now February 12, 2025

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

Related & companion bills 1

Bill text 1 version

Introduced in Senate Formatted Text PDF Formatted XML

Source documents hosted by congress.gov.

Committees of jurisdiction 1

Banking, Housing, and Urban Affairs Committee
Senate

Lobbying activity 45

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

INDEPENDENT COMMUNITY BANKERS OF AMERICA
for INDEPENDENT COMMUNITY BANKERS OF AMERICA · District of Columbia · 2nd Quarter (Apr 1 - June 30) 2026
GOWEST CREDIT UNION ASSOCIATION
for GOWEST CREDIT UNION ASSOCIATION · Washington · 1st Quarter (Jan 1 - Mar 31) 2026
AMERICAN BANKERS ASSOCIATION
for AMERICAN BANKERS ASSOCIATION · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2026
NATIONAL AUTOMOBILE DEALERS ASSOCIATION
for NATIONAL AUTOMOBILE DEALERS ASSOCIATION · Virginia · 1st Quarter (Jan 1 - Mar 31) 2026
NEW YORK BANKERS ASSOCIATION
for NEW YORK BANKERS ASSOCIATION · New York · 1st Quarter (Jan 1 - Mar 31) 2026
TIBER CREEK GROUP
for EQUIPMENT LEASING AND FINANCE ASSOCIATION · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2026

See all 45 filings →

Cosponsors 15

Kansas · Mar 31, 2025

Husted, Jon

Ohio · Mar 3, 2025

Britt, Katie Boyd

Alabama · Feb 18, 2025

Ricketts, Pete

Nebraska · Feb 13, 2025

Barrasso, John

Wyoming · Feb 12, 2025

Boozman, John

Arkansas · Feb 12, 2025

Cruz, Ted

Texas · Feb 12, 2025

Daines, Steve

Montana · Feb 12, 2025

Ernst, Joni

Iowa · Feb 12, 2025

Hyde-Smith, Cindy

Mississippi · Feb 12, 2025

Rounds, Mike

South Dakota · Feb 12, 2025

Wicker, Roger F.

Mississippi · Feb 12, 2025

Cite this page click to expand

APA

U.S. Congress. (2026). S. 557: 1071 Repeal to Protect Small Business Lending Act. 119th Congress. Open America. https://openamerica.io/bill/119-S-557/

MLA

"S. 557: 1071 Repeal to Protect Small Business Lending Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-S-557/.

Bluebook (legal)

S. 557, 119th Cong. (2026), https://openamerica.io/bill/119-S-557/.

Markdown link

[S. 557: 1071 Repeal to Protect Small Business Lending Act](https://openamerica.io/bill/119-S-557/)