HR 3490 · 116th Congress · Finance and Financial Sector
Small Business Lending Fairness Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Placed on the Union Calendar, Calendar No. 336.(2020-03-19)
Plain Language Summary
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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.)…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 3490, Small Business Lending Fairness Act
Mar 4, 2020As ordered reported by the House Committee on Financial Services on November 14, 2019
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office
Cosponsors (2)
1 Democrat1 Republican