,,ib ,union ,calendar ,no4 #faj #aaith  
,,congress  #b;d ,session  ,h4 ,r4 #ida 
,report ,no4 #aai-gjb ,,in ,,the ,,house
 ,,of ,,representatives  ,february #d1  
#bjbe,mr4 ,hill of ,arkansas 7for       
himself1 ,mr4 ,meuser1 ,mrs4 ,wagner1   
,mr4 ,huizenga1 ,mr4 ,timmons1 ,mr4     
,moore of ,north ,carolina1 and ,mr4    
,williams of ,texas7 introduced the     
following bill2 which was referred to   
the ,committee on ,financial ,services  
,june #ah1 #bjbf;,additional sponsors3  
,mr4 ,haridopolos1 ,mr4 ,nunn of ,iowa1 
,mrs4 ,hinson1 ,mr4 ,mackenzie1 ,mr4    
,womack1 ,mr4 ,kelly of ,mississippi1   
,mr4 ,buchanan1 ,mr4 ,shreve1 ,mr4      
,rose1 and ,mr4 ,wilson of ,south       
,carolina  ,june #ah1 #bjbf,reported    
with an amendment1 committed to the     
,committee of the ,whole ,house on the  
,state of the ,union1 and ordered to be 
printed,strike out all after the        
enacting clause and insert the part     
printed in italic,for text of introduced
 bill1 see copy of bill as introduced on

 ,february #d1 #bjbe  ,a ,,bill  ,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 rules1 and for  
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,small ,lenders
 ,exempt from ,new ,data and ,excessive 
,reporting ,act or the ,small ,,lender  
,act4  #b4 ,small business loan data    
collection ,section #gjd;,b of the      
,equal ,credit ,opportunity ,act 7#ae   
,u4,s4,c4 #afia;c-#b7 is amended-- 7#a7 
in subsection 7c7-- 7,a7 by striking    
,any applicant and inserting the        
following3  7#a7 ,in general ,any       
applicant  2 and  7,b7 by striking the  
period at the end and inserting the     
following3 1 and the financial          
institution may1 when requesting such   
information1 inform the applicant in    
writing that-- 7,a7 the ,bureau of      
,consumer ,financial ,protection        
requires the financial institution to   

ask1 collect1 and report such           
information to the ,federal ,government 
annually pursuant to this section2  7,b7
 the applicant is not required to       
provide such information2 and  7,c7 the 
applicant's response will not affect the
 financial institution's evaluation of  
the request for credit4  7#b7 ,model    
form ,the ,director of the ,bureau of   
,consumer ,financial ,protection shall  
establish a model form to be used in    
providing the information required to be
 provided to an applicant under         
paragraph 7#a74 ,such form shall-- 7,a7 
be in plain ,english2 and  7,b7 to the  
extent practicable1 be no longer than a 
single page4  2  7#b7 by striking       
subsection 7d72  7#c7 by redesignating  
subsections 7e71 7f71 7g71 and 7h7 as   
subsections 7d71 7e71 7f71 and 7g71     
respectively2 and  7#d7 in subsection   
7d71 as so redesignated-- 7,a7 in       
paragraph 7#b7-- 7i7 by striking        
subparagraphs 7,c71 7,g71 and 7,h72     
7ii7 by redesignating subparagraphs     

7,d71 7,e71 and 7,f7 as subparagraphs   
7,c71 7,d71 and 7,e71 respectively2     
7iii7 in subparagraph 7,d71 as so       
redesignated1 by adding and at the end2 
and  7iv7 in subparagraph 7,e71 as so   
redesignated1 by striking the semicolon 
and inserting a period2  7,b7 in        
paragraph 7#c71 by striking paragraph   
7#a77;,e7 and inserting paragraph       
7#a77;,d72 and  7,c7 by adding at the   
end the following3  7#e7 ,prohibition on
 information not reported by an         
applicant ,a financial institution may  
not compile and maintain information    
described under subsection 7b7 that was 
determined by the financial institution 
using visual observation or any other   
manner other than being provided by an  
applicant4  2  7#e7 in subsection 7f71  
as so redesignated1 by adding at the end
 the following3  7#d7 ,initial          
compliance date  7,a7 ,in general ,the  
,bureau may not require a financial     
institution to comply with this section1
 or any rule issued under this section1 

until ,june #a1 #bjca4  7,b7 ,safe      
harbor ,the ,bureau may not enforce     
compliance with the requirements of this
 section during the #b-year period      
beginning on the date described in      
subparagraph 7,a74  7#e7 ,exemption for 
small financial institutions ,a         
financial institution is exempt from the
 requirements of this section if the    
financial institution-- 7,a7 in each of 
the #b previous calendar years1         
originated less than #b1ejj credit      
transactions for small businesses2 or   
7,b7 has less than #aj1jjj1jjj1jjj in   
assets4  7#f7 ,treatment of response    
rate ,the percentage of applicants      
providing a financial institution with  
the information described under         
subsection 7b7 may not be used as a     
factor in determining whether a         
financial institution is in compliance  
with the requirements under this        
section4  2 and  7#f7 in subsection 7g71
 as so redesignated1 by striking        
paragraph 7#b7 and inserting the        

following3  7#b7 ,small business ,the   
term small business means any entity    
with gross annual revenues of #a1jjj1jjj
 or less in the most recently completed 
fiscal year4  4  ,june #ah1             
#bjbf,reported with an amendment1       
committed to the ,committee of the      
,whole ,house on the ,state of the      
,union1 and ordered to be printed