Section 1. Short title
This Act may be cited as the Bank Loan Privacy Act.
Section 2. Rulemaking requirement
Section 704B(e)(4) of the Equal Credit Opportunity Act (15 U.S.C. 1691c–2(e)(4)) is amended—
(1) by striking The Bureau may, and inserting:
(A) In general
The Bureau may,
(1) ; and
(2) by adding at the end the following:
(B) Rulemaking requirement
The Bureau shall, before deleting or modifying data under this paragraph issue, through advance notice and comment, a rule that includes a description of what modifications and deletions the Bureau intends to make to the data and how such modifications and deletions will advance a privacy interest.