Bill would delay and narrow small business loan data reporting rules
Placed on the calendarH.R. 941Latest action
Sponsor: J. French Hill · Representative · AR
AIDecoded by AI · checked against the recordRead the official text
Official title: Small LENDER Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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HR 941 pushes small business loan demographic data reporting to 2031 and exempts many smaller lenders.
40-second read · 4 questions answered below
What does this do?
This bill delays the compliance deadline for lender data collection on small business loans under the Equal Credit Opportunity Act to June 1, 2031, plus a two-year penalty-free safe harbor. It also exempts lenders making fewer than 2,500 small business loans a year or with under $10 billion in assets, narrows the definition of "small business" to $1 million or less in annual revenue, and bars lenders from guessing applicant demographics rather than relying on voluntary responses.
Who does it affect?
Banks, credit unions, and other small business lenders, along with small business owners applying for loans, are directly affected.
Why does it matter?
The changes mean less demographic data on small business lending, particularly involving minority- and women-owned businesses, would be collected and reported to regulators for many years and by many smaller institutions.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Reported in House” text of Jun 18, 2026.
Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedFeb 4, 2025
- House committee
- House voteYou are here · Jun 18, 2026
- Senate
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Placed on the Union Calendar, Calendar No. 610.