Small LENDER Act

3/5/2025, 5:08 AM

Summary of Bill HR 941

Bill 119 hr 941, also known as the "Equal Credit Opportunity Act Amendment for Small Business Lending Data Collection," aims to amend the Equal Credit Opportunity Act to establish an effective date and a temporary safe harbor for compliance with certain small business lending data collection rules. The bill also includes provisions for other purposes related to small business lending.

The main goal of this bill is to ensure that small businesses have equal access to credit opportunities and to promote transparency in lending practices. By collecting data on small business lending, policymakers can better understand the needs of small businesses and work towards creating a more inclusive and fair lending environment.

The bill proposes a temporary safe harbor for compliance with data collection rules, which will provide lenders with a grace period to adjust their practices and ensure they are in compliance with the new regulations. This will help ease the transition for lenders and ensure that small businesses are not unfairly disadvantaged during the implementation of the new rules. Overall, Bill 119 hr 941 seeks to strengthen the Equal Credit Opportunity Act and improve access to credit for small businesses. By collecting data on small business lending practices, policymakers can work towards creating a more equitable and transparent lending environment for all businesses.

Read the Full Bill

Formatted TextPDFFormatted XML

Current Status of Bill HR 941

Bill HR 941 is currently in the status of Bill Introduced since February 4, 2025. Bill HR 941 was introduced during Congress 119 and was introduced to the House on February 4, 2025.  Bill HR 941's most recent activity was Referred to the House Committee on Financial Services. as of February 4, 2025

Bipartisan Support of Bill HR 941

Total Number of Sponsors
3
Democrat Sponsors
0
Republican Sponsors
3
Unaffiliated Sponsors
0
Total Number of Cosponsors
14
Democrat Cosponsors
0
Republican Cosponsors
14
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 941

Primary Policy Focus

Alternate Title(s) of Bill HR 941

To amend the Equal Credit Opportunity Act to provide for an effective date and a temporary safe harbor for compliance with certain small business lending data collection rules, and for other purposes.To amend the Equal Credit Opportunity Act to provide for an effective date and a temporary safe harbor for compliance with certain small business lending data collection rules, and for other purposes.
Start holding our government accountable!

Comments

Sponsors and Cosponsors of HR 941

R
J. French Hill
Arkansas(Republican)
R
Roger Williams
Texas(Republican)
R
Ann Wagner
Missouri(Republican)
R
Tim Moore
North Carolina(Independent)
R
Daniel Meuser
Pennsylvania(Republican)

Latest Bills

To amend the Agriculture Improvement Act of 2018 to reauthorize the dairy business innovation initiatives.
Bill HR 985March 25, 2025
Full-Year Continuing Appropriations and Extensions Act, 2025
Bill HR 1968March 25, 2025
Love Lives On Act of 2025
Bill S 410March 25, 2025
Children and Teens’ Online Privacy Protection Act
Bill S 836March 25, 2025
Federal Prisons Accountability Act of 2025
Bill S 698March 25, 2025
FISH Act of 2025
Bill S 688March 25, 2025
A bill to establish in the Department of State the Office to Monitor and Combat Islamophobia, and for other purposes.
Bill S 805March 25, 2025
A bill to amend the Internal Revenue Code of 1986 to exclude from gross income interest received on certain loans secured by rural or agricultural real property.
Bill S 838March 25, 2025
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to "Review of Final Rule Reclassification of Major Sources as Area Sources Under Section 112 of the Clean Air Act".
Bill SJRES 31March 25, 2025
A bill to support democracy and the rule of law in Georgia, and for other purposes.
Bill S 868March 25, 2025