Right to Lend Act of 2015

Bill: 114-hr-1766
Sponsor: full_name: Rep. Pittenger, Robert [R-NC-9]
Introduced: 2015-04-14
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Business records

Credit and credit markets

Minority and disadvantaged businesses

Small business

Women in business
Latest action: action_date: 2015-04-14
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2015-04-14
action_desc: Introduced in House
text: <p><b>Right to Lend Act of 2015</b></p> <p> Repeals provisions of the Equal Credit Opportunity Act, as amended by Dodd-Frank Wall Street Reform and Consumer Protection Act, that require financial institutions to: (1) inquire whether businesses applying for credit for a women-owned, minority-owned, or small business are such a business; and (2) submit annually to the Consumer Financial Protection Bureau, in a manner to be made available to the public, a record of the responses to such inquiry, including census tract information and disclosures as to the race, sex, and ethnicity of the principal owners of such businesses.</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1766 IN THE HOUSE OF REPRESENTATIVES April 14, 2015 Mr. Pittenger introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Equal Credit Opportunity Act to repeal a small business loan data collection requirement.

1. Short title This Act may be cited as the Right to Lend Act of 2015 . 2. Small business loan data collection requirement (a) Repeal Section 704B of the Equal Credit Opportunity Act ( 15 U.S.C. 1691c–2 ) is repealed. (b) Conforming amendments Section 701(b) of the Equal Credit Opportunity Act ( 15 U.S.C. 1691(b) ) is amended— (1) in paragraph (3), by inserting or at the end; (2) in paragraph (4), by striking ; or and inserting a period; and (3) by striking paragraph (5). (c) Clerical amendment The table of sections for title VII of the Consumer Credit Protection Act is amended by striking the item relating to section 704B.