Bank Loan Privacy Act

Summary

Requires the Consumer Financial Protection Bureau to use notice-and-comment rulemaking before deleting or modifying certain consumer credit data under the Equal Credit Opportunity Act and to publish what changes it plans and how those changes protect privacy. Also gives the Act a short title; it does not appropriate funds or change substantive duties beyond the new rulemaking requirement.

• Requires the CFPB to use notice-and-comment rulemaking before deleting or modifying data under the specified ECOA provision.
• The Bureau must publish what deletions/modifications it intends and explain how they advance privacy interests.
• Repackages existing permissive text as an "In general" clause and adds a separate mandatory rulemaking clause.
• Section 1 only provides the Act's short title and makes no substantive changes or funding authorizations.
• The change is procedural—it affects how the Bureau acts, not the underlying private rights or credit standards.
• Likely increases transparency and public input but may delay deletions or modifications until a rule is completed.
• No new funding, appropriations, or private causes of action are created by this amendment.