Ordered to be Reported by the Yeas and Nays: 26 - 22.
This bill gives banks and lenders more time to follow a 2023 rule that requires them to collect and report data about loans they make to small businesses. It pushes back the deadline by 3 years and then adds another 2 years where lenders cannot be punished for mistakes. It also changes which lenders and which small businesses the rule covers, narrowing both definitions.