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Small Business Loan Data Protection: New Rules for Agency

This bill introduces new rules for how the consumer financial protection agency can modify or delete small business loan data. Before making any changes, the agency will need to publicly announce its intentions and explain how these changes will help protect privacy. This aims to increase transparency and ensure citizens and businesses know what is happening with their data.
Key points
The agency cannot delete or modify small business loan data without prior public notice and comment.
Before any data change, the agency must explain how these actions will enhance privacy protection.
The changes aim to increase control over financial data and ensure greater transparency in agency actions.
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Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_2885
Sponsor: Rep. Rose, John W. [R-TN-6]
Process start date: 2025-04-10
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Bank Loan Privacy Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2885.

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 2025-04-10.

What are the main provisions?

Key points include:

  • The agency cannot delete or modify small business loan data without prior public notice and comment.
  • Before any data change, the agency must explain how these actions will enhance privacy protection.
  • The changes aim to increase control over financial data and ensure greater transparency in agency actions.
What is the specific legal status?

The current status is Introduced.

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. Rose, John W. [R-TN-6].

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 2025-12-22.

CATEGORIES

Economy Courts and Law