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Less Burden for Small Businesses: Changes in Data Collection and Regulations.

This act aims to reduce regulatory burdens for small businesses, especially concerning loan data collection. It introduces changes requiring government agencies to justify why the size of small businesses should not impact new regulations, potentially making it easier for them to operate.
Key points
End of small business loan data collection: Agencies will no longer collect detailed data on loans granted to small businesses.
Increased agency accountability: Agencies must now provide detailed justifications for why new rules do not consider the specifics of small businesses, potentially leading to more thoughtful regulations.
Potential cost reduction for small businesses: The requirement to justify the lack of alternatives for small entities may result in lower financial burdens for them.
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Expired
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Additional Information
Print number: 117_HR_8443
Sponsor: Rep. Fitzgerald, Scott [R-WI-5]
Process start date: 2022-07-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Making the CFPB Accountable to Small Businesses Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8443.

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 2022-07-20.

What are the main provisions?

Key points include:

  • End of small business loan data collection: Agencies will no longer collect detailed data on loans granted to small businesses.
  • Increased agency accountability: Agencies must now provide detailed justifications for why new rules do not consider the specifics of small businesses, potentially leading to more thoughtful regulations.
  • Potential cost reduction for small businesses: The requirement to justify the lack of alternatives for small entities may result in lower financial burdens for them.
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. Fitzgerald, Scott [R-WI-5].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Is this summary verified?

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

CATEGORIES

Economy