What does Preamble of Small LENDER Act do?

This bill proposes to amend the Equal Credit Opportunity Act. It aims to establish an effective date and a temporary safe harbor for compliance with small business lending data collection rules. The bill's purpose is '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.'

What does SHORT TITLE. of Small LENDER Act do?

This bill is formally titled the Small Lenders Exempt from New Data and Excessive Reporting Act.

What does SMALL BUSINESS LOAN DATA COLLECTION. of Small LENDER Act do?

This section amends Section 704B of the Equal Credit Opportunity Act. It adds a new subsection (g)(4) regarding compliance with the 'covered rule,' providing a 3-year compliance period for financial institutions. Following the 3-year period, a 2-year safe harbor is provided during which institutions must comply but are not subject to penalties for non-compliance. The 'covered rule' is defined as the Bureau's final rule titled 'Small Business Lending Under the Equal Credit Opportunity Act (Regulation B).' Subsection (h) is revised to redefine 'financial institution' as entities engaging in financial activity and originating at least 500 small business credit transactions in the previous two years. The definition of 'small business' is updated to mean entities with gross annual revenues of $1,000,000 or less in the most recent fiscal year.

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Small LENDER Act

Last updated: 4/21/2026 · Introduced: 2/4/2025

Author: J. Hill (R-AR)

TL;DR (AI)

This bill amends the Equal Credit Opportunity Act to provide financial institutions with a three-year compliance period and a two-year safe harbor for complying with data collection rules related to small business lending.
The bill redefines 'financial institution' to include entities originating at least 500 small business credit transactions annually and updates the definition of 'small business' to entities with gross annual revenues of $1,000,000 or less.
The bill specifically addresses compliance with the Bureau's final rule titled 'Small Business Lending Under the Equal Credit Opportunity Act (Regulation B).'

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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