Bank Loan Privacy Act

Bill: 119-hr-2885
Sponsor: full_name: Rep. Rose, John W. [R-TN-6]
Introduced: 2025-04-10
Policy area: Finance and Financial Sector
Latest action: action_date: 2025-04-10
text: Referred to the House Committee on Financial Services.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 2885 IN THE HOUSE OF REPRESENTATIVES April 10, 2025 Mr. Rose (for himself and Ms. De La Cruz ) 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. .