# 119-s-557: 1071 Repeal to Protect Small Business Lending Act

119-s-557, 1071 Repeal to Protect Small Business Lending Act, is a 119th Congress bill sponsored by Sen. Kennedy, John [R-LA] (R-LA); status introduced; PRIA reads it as touching household money (as of 2025-12-21).

- Canonical: https://policyrisk.com/legislation/119-s-557
- As of: 2025-12-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-557
- Congress: 119
- Title: 1071 Repeal to Protect Small Business Lending Act
- Status: introduced
- Introduced: 2025-02-12
- Sponsor: Sen. Kennedy, John [R-LA] (R-LA)
- Cosponsors: 15
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2025-12-21

## Summary

**Repeal of small business loan data collection.** This bill would remove the requirement that lenders collect and report loan-application details for women-owned, minority-owned, and small businesses to the Consumer Financial Protection Bureau. - Small businesses: The bill's findings say repealing the rule will reduce regulatory burdens and support greater access to credit for small businesses. - Smaller lenders: The findings say the reporting imposes compliance costs that disproportionately affect community banks and credit unions. - Data covered: It would end collection and reporting of application counts, dispositions, loan type, amount applied for, amount approved, and applicant census tract, revenue, race, sex, and ethnicity. - Legal fixes: The bill makes conforming edits to the Dodd-Frank Act and the Equal Credit Opportunity Act by striking Section 1071 and related references.

## Cosponsors (15)

- Sen. Hyde-Smith, Cindy [R-MS] (R-MS), 2025-02-12T00:00:00.000Z
- Sen. Ernst, Joni [R-IA] (R-IA), 2025-02-12T00:00:00.000Z
- Sen. Boozman, John [R-AR] (R-AR), 2025-02-12T00:00:00.000Z
- Sen. Wicker, Roger F. [R-MS] (R-MS), 2025-02-12T00:00:00.000Z
- Sen. Barrasso, John [R-WY] (R-WY), 2025-02-12T00:00:00.000Z
- Sen. Rounds, Mike [R-SD] (R-SD), 2025-02-12T00:00:00.000Z
- Sen. Daines, Steve [R-MT] (R-MT), 2025-02-12T00:00:00.000Z
- Sen. Cruz, Ted [R-TX] (R-TX), 2025-02-12T00:00:00.000Z
- Sen. Ricketts, Pete [R-NE] (R-NE), 2025-02-13T00:00:00.000Z
- Sen. Britt, Katie Boyd [R-AL] (R-AL), 2025-02-18T00:00:00.000Z
- Sen. Husted, Jon [R-OH] (R-OH), 2025-03-03T00:00:00.000Z
- Sen. Moran, Jerry [R-KS] (R-KS), 2025-03-31T00:00:00.000Z
- Sen. Grassley, Chuck [R-IA] (R-IA), 2025-04-28T00:00:00.000Z
- Sen. Crapo, Mike [R-ID] (R-ID), 2025-05-22T00:00:00.000Z
- Sen. Risch, James E. [R-ID] (R-ID), 2025-06-02T00:00:00.000Z

## Provisions PRIA read

- Repeal of small-business loan reporting: mixed, medium. This bill would repeal the federal rule that required banks and lenders to collect and report standard small-business loan data. If enacted, lenders would no longer have to file those reports. Lenders would likely see lower paperwork and compliance costs. Small-business owners and communities would…

## Related bills

- 119-s-1071: National Defense Authorization Act for Fiscal Year 2026
- 119-s-2296: National Defense Authorization Act for Fiscal Year 2026
- 119-s-4784: National Defense Authorization Act for Fiscal Year 2027
- 119-s-3752: SAVE America Act
- 119-s-1241: Sanctioning Russia Act of 2025
- 119-s-587: Death Tax Repeal Act of 2025

## Sources
- [119-s-557 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/557)

## Related
- [119-s-1071: National Defense Authorization Act for Fiscal Year 2026](https://policyrisk.com/legislation/119-s-1071)
- [119-s-2296: National Defense Authorization Act for Fiscal Year 2026](https://policyrisk.com/legislation/119-s-2296)
- [119-s-4784: National Defense Authorization Act for Fiscal Year 2027](https://policyrisk.com/legislation/119-s-4784)
- [119-s-3752: SAVE America Act](https://policyrisk.com/legislation/119-s-3752)
- [119-s-1241: Sanctioning Russia Act of 2025](https://policyrisk.com/legislation/119-s-1241)
- [119-s-587: Death Tax Repeal Act of 2025](https://policyrisk.com/legislation/119-s-587)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-557 (as of 2025-12-21).