Right to Lend Act of 2015

Right to Lend Act of 2015

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.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1766 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 1766

 To amend the Equal Credit Opportunity Act to repeal a small business 
                   loan data collection requirement.


_______________________________________________________________________


                    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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Right to Lend Act of 2015''.

SEC. 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U.S.C. 1691c-2) is repealed.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.
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