HR 6054 · 117th Congress · Finance and Financial Sector
Small Business Lending Disclosure Act of 2021
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Financial Services.(2021-11-18)
Plain Language Summary
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Small Business Lending Disclosure Act of 2021 This bill applies specified commercial lending protections to small business lending and extends the Consumer Financial Protection Bureau's regulatory authority regarding consumer financial products and services to include small business financing. Among other requirements, lenders offering financial products to small businesses must disclose the terms of the financing upon extending an offer and are prohibited from charging certain additional fees on a refinanced or modified loan.…
Summarized by Claude AI · Non-partisan · For informational purposes only