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119th CONGRESS
1st Session |
To require the Bureau of Consumer Financial Protection to issue a rule before deleting or modifying certain small business loan data, and for other purposes.
Mr. Rose (for himself and Ms. De La Cruz) introduced the following bill; which was referred to the Committee on Financial Services
To require the Bureau of Consumer Financial Protection to issue a rule before deleting or modifying certain small business loan data, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Bank Loan Privacy Act”.
SEC. 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.”.