Right to Lend Act of 2017

Right to Lend Act of 2017

This bill repeals provisions of the Equal Credit Opportunity Act that require a financial institution, in the case of an application for credit by a business, to request information regarding whether the business is a women-owned, minority-owned, or small business.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4452 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 4452

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 17, 2017

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 2017''.

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U.S.C. 1691c-2) is repealed.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