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Repeal of Small Business Loan Data Collection Requirements

This act aims to make it easier for small businesses to access loans. It repeals provisions that required banks to collect and report detailed data on small business loans. This could reduce paperwork for banks, especially smaller ones, potentially increasing credit availability for local businesses.
Key points
Reduces paperwork for banks lending to small businesses.
Potentially easier access to credit for small businesses.
Especially beneficial for community banks and credit unions.
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Status:
Placed on Calendar
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Additional Information
1071 Repeal to Protect Small Business Lending Act
Print number: HR 976
Sponsor: Rep. Williams, Roger [R-TX-25]
Process start date: 2025-02-04
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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Summary & Status

Key Questions about Repeal of Small Business Loan Data Collection Requirements

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 976.

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 2025-02-04.

What are the main provisions?

Key points include:

  • Reduces paperwork for banks lending to small businesses.
  • Potentially easier access to credit for small businesses.
  • Especially beneficial for community banks and credit unions.

What is the specific legal status?

The current status is Placed on Calendar.

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. Williams, Roger [R-TX-25].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 65.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

Analysis and Potential Impact of HR 976

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Economy