Small LENDER Act
Latest action · Jun 18, 2026 Placed on the Union Calendar, Calendar No. 610.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedFeb 4, 2025
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Small 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.)
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.
Cosponsors 16
Members who signed on, in the order they did. Signatures ran from Feb 4, 2025 to May 4, 2026; 6 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-MO | Ann Wagner | Original | Feb 4, 2025 |
| R-MI | Bill Huizenga | Original | Feb 4, 2025 |
| R-PA | Daniel Meuser | Original | Feb 4, 2025 |
| R-TX | Roger Williams | Original | Feb 4, 2025 |
| R-NC | Tim Moore | Original | Feb 4, 2025 |
| R-SC | William R. Timmons IV | Original | Feb 4, 2025 |
| R-FL | Mike Haridopolos | Feb 12, 2025 | |
| R-IA | Zachary Nunn | Feb 12, 2025 | |
| R-IA | Ashley Hinson | May 8, 2025 | |
| R-PA | Ryan Mackenzie | May 13, 2025 | |
| R-AR | Steve Womack | May 14, 2025 | |
| R-MS | Trent Kelly | Jul 2, 2025 | |
| R-FL | Vern Buchanan | Jul 29, 2025 | |
| R-IN | Jefferson Shreve | Oct 28, 2025 | |
| R-TN | John W. Rose | Apr 20, 2026 | |
| R-SC | Joe Wilson | May 4, 2026 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Feb 4, 2025Markup Apr 21, 2026Reported Jun 18, 2026 |
Actions 6
Everything that happened, newest first.
- Jun 18, 2026Reported (Amended) by the Committee on Financial Services. H. Rept. 119-702.
- Jun 18, 2026Placed on the Union Calendar, Calendar No. 610.
- Apr 21, 2026Committee Consideration and Mark-up Session Held
- Apr 21, 2026Ordered to be Reported by the Yeas and Nays: 26 - 22.
- Feb 4, 2025Introduced in House
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimate
- Oct 14, 2026H.R. 941, Small LENDER ActAs reported by the House Committee on Financial Services on June 18, 2026
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 171, no. 23, February 4, 2025, page H460.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 119-33 | DODD-FRANK TURNS 15: LESSONS LEARNED AND THE ROAD AHEAD580 pages | Financial Services Committee | Jul 15, 2025 |
Titles 5
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Equal Credit Opportunity Act to provide for an effective date and a temporary safe harbor for compliance with certain small business lending data collection rules, and for other purposes.
- Short Title(s) as Introduced
- Small LENDER Act
- Small Lenders Exempt from New Data and Excessive Reporting Act
- Short Title(s) as Reported to House
- Small LENDER Act
- Small Lenders Exempt from New Data and Excessive Reporting Act
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 2
Each version as it was printed, newest first.
- Jun 18, 2026Reported in House
- Feb 4, 2025Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
