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118th Congress Commerce

H.R. 1806: Small LENDER Act

Introduced

  1. Introduced (completed)Mar 27, 2023
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in House, Mar 27, 2023

This bill exempts certain financial institutions and transactions from the Consumer Financial Protection Bureau (CFPB) reporting requirements with respect to data about small business credit applications.

Under the bill, the requirements apply only to financial institutions that originate at least 500 credit transactions to small businesses in each of the preceding two years. The bill further defines small businesses as those with annual revenue of $1 million or less.

Currently, the CFPB has proposed a rule that the requirements apply only to financial institutions that originate at least 25 annual credit transactions to small businesses in each of the preceding two years. The rule further defines small businesses as those with annual revenue of $5 million or less.

Written by the Congressional Research Service, Library of Congress.

Roll calls

0 votes on this bill

No roll call votes have been held on this bill.

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

28

Who scored on this bill

6 points earned
  1. 1J. Hill R-AR SponsorIntroduced, reached a cosponsor milestone2 events+6
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Other bills by J. Hill

History

  1. Mar 27, 2023Introduced in the House by J. Hill.
Show the full action history (2 actions)
  1. Mar 27, 2023Introduced in House
  2. Mar 27, 2023Referred to the House Committee on Financial Services.