- Stage
- In committee
- Started in
- Senate
- Sponsors
- 2
- Latest action
- Jul 17, 2025
What it does
The PROTECTED Act would amend the Equal Credit Opportunity Act to modify how financial institutions collect and report small business loan data, requiring them to inform applicants that providing certain demographic information is voluntary and will not affect credit decisions. It would prohibit financial institutions from compiling applicant data through visual observation or other means not directly provided by the applicant, and bar the use of response rates as a compliance factor. The bill also adds procedural safeguards for data modifications by the Bureau of Consumer Financial Protection, establishes a two-year safe harbor period before enforcement begins, and defines covered…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.