The Small LENDER Act aims to exempt small lenders from certain new data collection requirements and excessive reporting regulations. This bill seeks to reduce the regulatory burden on small lenders by providing them relief from extensive reporting obligations, allowing them to focus more on their core operations. The main provisions include exemptions for qualifying small lenders from specific data collection and reporting mandates, ultimately aiming to support these smaller financial institutions in serving their customers more efficiently.
2023-03-27: Introduced in House
2023-03-27: Referred to the House Committee on Financial Services.
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