1071 Repeal to Protect Small Business Lending Act

This bill would end a requirement for banks and other financial institutions to collect information about loan applications from women-owned, minority-owned, and small businesses. Currently, these institutions must gather and report details like how many applications they received, whether they approved or denied each one, loan types and amounts, and information about the applicant's location, revenue, race, sex, and ethnicity. The bill would eliminate this data collection requirement.

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