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
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
Plain-English summary
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
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1
Cosponsors
1