Bank Loan Privacy Act

Bill: 118-hr-1810
Sponsor: full_name: Rep. Luetkemeyer, Blaine [R-MO-3]
Introduced: 2023-03-27
Policy area: Finance and Financial Sector
Latest action: action_date: 2023-03-27
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2023-03-27
action_desc: Introduced in House
text: <p><b>Bank Loan Privacy Act</b></p> <p>This bill requires the Consumer Financial Protection Bureau to issue a rule prior to deleting or modifying publicly available small business loan data due to privacy concerns. Specifically, the bureau must describe the intended modifications and deletions and explain how such modifications and deletions will advance a privacy interest. </p>

tv_txt: I 118th CONGRESS 1st Session H. R. 1810 IN THE HOUSE OF REPRESENTATIVES March 27, 2023 Mr. Luetkemeyer (for himself, Mr. Hill , and Mr. Williams of Texas ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Bureau of Consumer Financial Protection to issue a rule before deleting or modifying certain small business loan data, and for other purposes.

1. Short title This Act may be cited as the Bank Loan Privacy Act . 2. Rulemaking requirement Section 704B(e)(4) of the Equal Credit Opportunity Act ( 15 U.S.C. 1691c–2(e)(4) ) is amended— (1) by striking The Bureau may, and inserting: (A) In general The Bureau may, ; and (2) by adding at the end the following: (B) Rulemaking requirement The Bureau shall, before deleting or modifying data under this paragraph issue, through advance notice and comment, a rule that includes a description of what modifications and deletions the Bureau intends to make to the data and how such modifications and deletions will advance a privacy interest. .