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H.R. 2540 117th Congress House

Small Business Lending Fairness Act

Official title: To amend the Truth in Lending Act to prohibit certain unfair credit practices, and for other purposes.

Introduced: April 14, 2021 Introduced by: Nydia M. Velázquez Democratic · New York See on congress.gov
Finance and Financial Sector Business ethicsConsumer creditContracts and agencyLawyers and legal services
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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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 Latest action April 14, 2021

Referred to the House Committee on Financial Services.

 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.)

 Related & companion bills 2
  • HR 2547 Comprehensive Debt Collection Improvement Act
  • S 1119 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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