What This Bill Does · Plain English
Summary
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Action Timeline
2025-04-10
Referred to the House Committee on Financial Services.
2025-04-10
Introduced in House
2025-04-10
Introduced in House
Frequently Asked Questions
Did HR.2885 pass?
HR.2885 is still alive. Current stage: COMMITTEE. Pass likelihood: 38%.
Who sponsored HR.2885?
HR.2885 was sponsored by John W. Rose (R-Tennessee).
Full Bill Text
119 HR 2885 IH: Bank Loan Privacy Act U.S. House of Representatives 2025-04-10 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 2885 IN THE HOUSE OF REPRESENTATIVES April 10, 2025 Mr. Rose (for himself and Ms. De La Cruz ) introduced the following bill; which was referred to the Committee on Financial Services A BILL 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. 1. Short title This Act may be cited as the Bank Loan Privacy Act . 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. .
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