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S. Rept. 114-267 1 (2016-05-26)

handle is hein.congrecreports/crptxshr0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP Calendar No. 108 114TH CONGRESS REPORT 2d Session SENATE 114-267 THE COMMUNICATING LENDER ACTIVITY REPORTS FROM THE SMALL BUSINESS ADMINISTRATION (CLEAR SBA) ACT OF 2015 MAY 26, 2016.-Ordered to be printed Mr. VITTER, from the Committee on Small Business and Entrepreneurship, submitted the following REPORT [To accompany S. 967] The Committee on Small Business and Entrepreneurship to which was referred the bill (S. 967) to require the Small Business Administration to make information relating to lenders making covered loans publicly available, and for other purposes, having considered the same, reports favorably thereon with an amendment and recommends that the bill, as amended, do pass. I. INTRODUCTION The CLEAR SBA Act (S. 967) was introduced by the Committee's Ranking Member, Senator Jeanne Shaheen, on April 15, 2015. Co- sponsors include: Senators Cantwell, Fischer, Hirono and Peters. The CLEAR SBA Act requires the Small Business Administra- tion (SBA) to establish a searchable online database, known as a Lender Activity Index, to provide consumers with more trans- parent, user-friendly data about local SBA lenders. During the markup of the bill, the Fischer amendment to the bill was approved unanimously by voice vote. The Fischer amendment is identical to the Risch-Landrieu amendment that passed the Committee during the 113th Congress as part of S. 537. The Fisch- er amendment provides that the SBA may not increase the burden on lenders in order to comply with the Lender Activity Index provi- sion in the underlying bill. The amendment also asserts that it is the sense of Congress that no additional funding will be made available to carry out this program. Operation costs of this pro- gram, according to the amendment text, should be paid from exist- 59-010

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