Legis Daily

Promoting Fair Lending to Small Businesses Act

USA117th CongressHR-7351| House 
| Updated: 3/31/2022
Nydia M. Velázquez

Nydia M. Velázquez

Democratic Representative

New York

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Promoting Fair Lending to Small Businesses Act This bill requires the Consumer Financial Protection Bureau (CFPB) to require reports from and conduct periodic examinations of certain nondepository business lenders. Specifically, the CFPB must assess these lenders' compliance with fair lending laws, obtain information about compliance systems or procedures, and detect risks to small businesses and to minority- and women-owned businesses. Under the bill, nondepository lenders include financial institutions that are not banks or credit unions but that are required to report under certain fair lending laws.
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Timeline
Mar 31, 2022
Introduced in House
Mar 31, 2022
Referred to the House Committee on Financial Services.
  • March 31, 2022
    Introduced in House


  • March 31, 2022
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Promoting Fair Lending to Small Businesses Act

USA117th CongressHR-7351| House 
| Updated: 3/31/2022
Promoting Fair Lending to Small Businesses Act This bill requires the Consumer Financial Protection Bureau (CFPB) to require reports from and conduct periodic examinations of certain nondepository business lenders. Specifically, the CFPB must assess these lenders' compliance with fair lending laws, obtain information about compliance systems or procedures, and detect risks to small businesses and to minority- and women-owned businesses. Under the bill, nondepository lenders include financial institutions that are not banks or credit unions but that are required to report under certain fair lending laws.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 31, 2022
Introduced in House
Mar 31, 2022
Referred to the House Committee on Financial Services.
  • March 31, 2022
    Introduced in House


  • March 31, 2022
    Referred to the House Committee on Financial Services.
Nydia M. Velázquez

Nydia M. Velázquez

Democratic Representative

New York

Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted