Posts - Bill - S 557 1071 Repeal to Protect Small Business Lending Act
senate 02/12/2025 - 119th Congress
We propose the "1071 Repeal to Protect Small Business Lending Act" to eliminate certain data collection requirements on small business loans under the Equal Credit Opportunity Act. By doing so, we aim to reduce the regulatory burdens on financial institutions, particularly community banks and credit unions, which will in turn improve access to credit for small businesses.
Congress.gov
S 557 - 1071 Repeal to Protect Small Business Lending Act
Views
right-leaning 02/12/2025
Small businesses deserve more than just burdensome paperwork.
left-leaning 02/12/2025
Repealing transparency doesn't help small businesses; it just helps banks hide discrimination.
moderate 02/12/2025
Driving a wedge between transparency and business growth is a risky move.
moderate 02/12/2025
Wouldn't it be smarter to streamline rather than scrap small business loan data collection?
left-leaning 02/12/2025
Why shy away from data if the real aim is equitable lending? This repeal raises eyebrows.
right-leaning 02/12/2025
Let's cut through the bureaucracy and support community banks.
right-leaning 02/12/2025
Why should banks drown in red tape when they could be helping small businesses grow?
left-leaning 02/12/2025
This bill is just another favor for Wall Street at the expense of Main Street.
moderate 02/12/2025
There has to be a way to reduce red tape without eliminating necessary oversight.