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H.R. 941119th CongressCommerce
Small LENDER Act
Sponsored by Rep. J. French Hill (R-AR) · 16 active : 16 Republicans
Latest action: Placed on the Union Calendar, Calendar No. 610.
Where it standsBefore the House45 representatives score as swing votes
Hasn’t passed either chamber
- House: next
- Senate: not yet
- President: not yet
Summary
, via Congress.govSmall Lenders Exempt from New Data and Excessive Reporting Act or the Small LENDER Act
This bill modifies the requirements for financial institutions to report certain information about small business credit applications to the Consumer Financial Protection Bureau (CFPB) and extends the timeline for compliance with the CFPB rule with respect to such reporting (i.e., Section 1071 final
rule
). (For background about the CFPB rule and subsequent litigation see CRS Report
R47788
.)
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Under the bill, the reporting requirements apply only to financial institutions that originate at least 500 credit transactions to small businesses in each of the preceding two years. The bill further defines small businesses as those with gross annual revenue of $1 million or less.
The rule currently establishes a phase-in period that ultimately requires institutions that originate over 100 credit transactions to small businesses to comply with the reporting requirements. The rule also defines small businesses as those with gross annual revenue of $5 million or less.
Further, beginning on the date the final CFPB rule was issued (May 31, 2023), the bill provides three years for applicable financial institutions to comply with the rule followed by a two-year safe harbor period during which such institutions are not subject to any penalties for failure to comply with the rule.
Committees and subjects
Committees
- House Committee on Financial Services · HouseReported by · Markup by · Referred to
Subjects
- Banking and financial institutions regulation
- Business records
- Data collection, sharing, protection
- Financial services and investments
- Small business
Model
Directional: count only breaks toward the other partyWhy do scores change?v3default (selected)v2 model swing-v2
How the Senate breaks down
- 7Swing 70–100
- 66Middle 30–70
- 27Entrenched 0–30
Members fall into . All 100 senators have enough data to score. The bill is not before the Senate right now; these scores show where members would stand.
Key players in the Senate
Ranked by swing score, 0–100 · swing-v3Bars show each input from 0 to 100: ideology gap, scorecard gap, , and the . is the seat’s partisan lean, and shows how much of the input data a score has.
Similar past votes, Senate
Earlier behind swing-v3’s inputLoading similar votes
Cosponsors
16 activeShow all 16 cosponsors
- Ann Wagner (R-MO-2)
- Bill Huizenga (R-MI-4)
- Daniel Meuser (R-PA-9)
- Roger Williams (R-TX-25)
- Tim Moore (R-NC-14)
- William R. Timmons (R-SC-4)
- Mike Haridopolos (R-FL-8)
- Zachary Nunn (R-IA-3)
- Ashley Hinson (R-IA-2)
- Ryan Mackenzie (R-PA-7)
- Steve Womack (R-AR-3)
- Trent Kelly (R-MS-1)
- Vern Buchanan (R-FL-16)
- Jefferson Shreve (R-IN-6)
- John W. Rose (R-TN-6)
- Joe Wilson (R-SC-2)
How the swing score works
Ideology gapHow far a member’s DW-NOMINATE voting score sits from their party’s median in the same chamber.
Scorecard gapHow far their Heritage Action and LCV ratings stray from their party’s average, using the groups’ votes on similar bills where available.
Cross-pressureHow strongly their district or state leans toward the other party, from our own computed partisan lean.
Similar votesHow often they voted against their own party on earlier roll calls about this bill or similar ones.
Committee bonusMembers of the committees handling the bill decide whether it moves, so they get a boost.
Cosponsor checkThe sponsor and active cosponsors have already committed, so they drop toward entrenched.
