HR 2540 · 117th Congress · Finance and Financial Sector
Small Business Lending Fairness Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Financial Services.(2021-04-14)
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