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Small Business Loan Data Protection: New Rules for Bureau

This bill requires the Bureau of Consumer Financial Protection (BCFP) to issue public rules before deleting or modifying certain small business loan data. This means greater transparency in managing important information that can affect credit availability for entrepreneurs.
Key points
The Bureau of Consumer Financial Protection must publicly announce what small business loan data it intends to delete or modify.
Before any data change, the Bureau must explain why these changes are necessary for privacy protection.
Citizens and businesses will have the opportunity to comment on planned data changes.
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Additional Information
Print number: 117_HR_6739
Sponsor: Rep. Luetkemeyer, Blaine [R-MO-3]
Process start date: 2022-02-15
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To require the Bureau of Consumer Financial Protection to issue a before deleting or modifying certain small business loan data, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6739.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-02-15.

What are the main provisions?

Key points include:

  • The Bureau of Consumer Financial Protection must publicly announce what small business loan data it intends to delete or modify.
  • Before any data change, the Bureau must explain why these changes are necessary for privacy protection.
  • Citizens and businesses will have the opportunity to comment on planned data changes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Luetkemeyer, Blaine [R-MO-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy Courts and Law