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HR 2540 117th Congress House Finance and Financial Sector Business ethics Consumer credit Contracts and agency Lawyers and legal services

Small Business Lending Fairness Act

Introduced: April 14, 2021 Introduced by: Velázquez, Nydia M. Democratic · New York See on congress.gov
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Apr 14, 2021
Referred to the House Committee on Financial Services.
Apr 14, 2021
Introduced in House
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 Plain-English summary Congressional Research Service

Small Business Lending Fairness Act

This bill prohibits as a condition to a loan or extension of credit a confession of judgment or similar agreement. (A confession of judgment is an agreement to a judgment of liability without notice and opportunity to be heard in court in the event of the default of a borrower.)

What's happening now April 14, 2021

Referred to the House Committee on Financial Services.

 Related & companion bills 2
  • HR 2547 Related bill Comprehensive Debt Collection Improvement Act
  • S 1119 Related bill Small Business Lending Fairness Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Schneider, Bradley Scott
Illinois · Apr 14, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2540: Small Business Lending Fairness Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-2540/
MLA
"H.R. 2540: Small Business Lending Fairness Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-2540/.
Bluebook (legal)
H.R. 2540, 117th Cong. (2026), https://openamerica.io/bill/117-HR-2540/.
Markdown link
[H.R. 2540: Small Business Lending Fairness Act](https://openamerica.io/bill/117-HR-2540/)
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