ICBA thanked congressional leaders for scheduling a markup on the Small LENDER Act (H.R. 941), which would mitigate the adverse impact of Section 1071 of the Dodd-Frank Act on America’s small businesses and community banks.

ICBA said  that the Amendment in the Nature of a Substitute for H.R. 941 would raise the loan-volume threshold and asset level at which financial institutions would be required to collect and report small business lending data and would also apply the requirement to fewer small businesses. ICBA added that the ANS would provide community banks with significant relief and provide small businesses with the credit they need to continue to grow.