Bank Loan Privacy Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2885 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 2885

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.

_______________________________________________________________________

                    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.

    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 ``Bank Loan Privacy Act''.

SEC. 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.''.
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