Small Business Credit Protection Act

Senate Bill 2034 - Small Business Credit Protection Act: Overview, Status, and Impact

Hozzl · 2022-12-31T05:28:17Z

Explore the details of Senate Bill 2034 Small Business Credit Protection Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

12/31/2022, 5:28 AM

Congressional Summary of S 2034

Small Business Credit Protection Act

This bill establishes requirements related to breaches of data belonging to small businesses.

Specifically, a consumer reporting agency must promptly report any breach of nonpublic small business data. In the event of a breach, a consumer reporting agency may not charge a small business for a credit report. Additionally, the Government Accountability Office must report on the economic harm to small businesses resulting from data breaches at consumer reporting agencies.

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Current Status of Bill S 2034

Bill S 2034 is currently in the status of Bill Introduced since June 10, 2021. Bill S 2034 was introduced during Congress 117 and was introduced to the Senate on June 10, 2021. Bill S 2034's most recent activity was Read twice and referred to the Committee on Small Business and Entrepreneurship. as of June 10, 2021

Bipartisan Support of Bill S 2034

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 2034

Primary Policy Focus

Commerce

Potential Impact Areas

- Business records

- Computer security and identity theft

- Congressional oversight

- Consumer credit

- Credit and credit markets

- Government studies and investigations

Alternate Title(s) of Bill S 2034

A bill to amend the Small Business Act to require that consumer reporting agencies and other credit reporting companies provide certain protections to small businesses, and for other purposes.

Small Business Credit Protection Act