Small Business Lending Disclosure and Broker Regulation Act of 2020

Summary

Small Business Lending Disclosure and Broker Regulation Act of 2020 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. Additionally, the bill establishes an Office of Broker Regulation within the bureau to regulate brokers of small business financing.

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Timeline

1. 30 July 2020

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 30 July 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 July 2020

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 30 July 2020 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 30 July 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 30 July 2020

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 30 July 2020

  Open at official source

Sponsors

• Rep. Velázquez, Nydia M. [D-NY-7] · D · Sponsor
• · hsba00 · Standing

Related records

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