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HR 7889 116th Congress House Finance and Financial Sector Banking and financial institutions regulation Business records Civil actions and liability Consumer Financial Protection Bureau Consumer affairs Contracts and agency Credit and credit markets Executive agency funding and structure Financial services and investments Fraud offenses and financial crimes Interest, dividends, interest rates Licensing and registrations Small business State and local government operations User charges and fees

Small Business Lending Disclosure and Broker Regulation Act of 2020

Introduced: July 30, 2020 Introduced by: Velázquez, Nydia M. Democratic · New York See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2020
Referred to the House Committee on Financial Services.
Jul 30, 2020
Introduced in House
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 Plain-English summary Congressional Research Service

Small Business Lending Disclosure and Broker Regulation Act of 2020

This bill applies specified commercial lending protections to small business lending and extends the Consumer Financial Protection Bureau's regulatory authority regarding consumer financial products and services to include small business financing. Among other requirements, lenders offering financial products to small businesses must disclose the terms of the financing upon extending an offer and are prohibited from charging certain additional fees on a refinanced or modified loan.

Additionally, the bill establishes an Office of Broker Regulation within the bureau to regulate brokers of small business financing.

What's happening now July 30, 2020

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). H.R. 7889: Small Business Lending Disclosure and Broker Regulation Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-HR-7889/
MLA
"H.R. 7889: Small Business Lending Disclosure and Broker Regulation Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-7889/.
Bluebook (legal)
H.R. 7889, 116th Cong. (2026), https://openamerica.io/bill/116-HR-7889/.
Markdown link
[H.R. 7889: Small Business Lending Disclosure and Broker Regulation Act of 2020](https://openamerica.io/bill/116-HR-7889/)
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