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Small Business Lending Fairness Act
11/1/2022, 1:50 PM
Congressional Summary of HR 3490
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.)
Read the Full Bill
Current Status of Bill HR 3490
Bill HR 3490 is currently in the status of Bill Introduced since June 25, 2019. Bill HR 3490 was introduced during Congress 116 and was introduced to the House on June 25, 2019. Bill HR 3490's most recent activity was Placed on the Union Calendar, Calendar No. 336. as of March 19, 2020
Bipartisan Support of Bill HR 3490
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
1Republican Cosponsors
1Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 3490
Primary Policy Focus
Finance and Financial SectorPotential Impact Areas
- Business ethics
- Consumer credit
- Contracts and agency
- Lawyers and legal services
Alternate Title(s) of Bill HR 3490
Small Business Lending Fairness Act
To amend the Truth in Lending Act to prohibit certain unfair credit practices, and for other purposes.
Small Business Lending Fairness Act
Small Business Lending Fairness Act
Comments
Sponsors and Cosponsors of HR 3490
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