119 HR 2885 IH: Bank Loan Privacy Act U.S. House of Representatives 2025-04-10 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS1st SessionH. R. 2885IN THE HOUSE OF REPRESENTATIVESApril 10, 2025Mr. Rose (for himself and Ms. De La Cruz) introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo require the Bureau of Consumer Financial Protection to issue a rule before deleting or modifying certain small business loan data, and for other purposes.

1.

Short title

This Act may be cited as the Bank Loan Privacy Act.

2.

Rulemaking requirement

Section 704B(e)(4) of the Equal Credit Opportunity Act (15 U.S.C. 1691c–2(e)(4)) is amended— (1)by striking The Bureau may, and inserting: (A)

In general

The Bureau may,; and (2)by adding at the end the following: (B)

Rulemaking requirement

The Bureau shall, before deleting or modifying data under this paragraph issue, through advance notice and comment, a rule that includes a description of what modifications and deletions the Bureau intends to make to the data and how such modifications and deletions will advance a privacy interest. .