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LGBTQ Business Equal Credit Enforcement and Investment Act

12/29/2022, 11:48 PM

Congressional Summary of S 4002

LGBTQ Business Equal Credit Enforcement and Investment Act

This bill requires financial institutions to report certain credit application data to the Consumer Financial Protection Bureau for the purposes of enforcing fair lending laws. Specifically, financial institutions must report this data regarding lesbian-, gay-, bisexual-, transgender-, or queer-owned businesses. Currently, this data is reported regarding women-owned, minority-owned, and small businesses.

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Current Status of Bill S 4002

Bill S 4002 is currently in the status of Bill Introduced since April 5, 2022. Bill S 4002 was introduced during Congress 117 and was introduced to the Senate on April 5, 2022.  Bill S 4002's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of April 5, 2022

Bipartisan Support of Bill S 4002

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
1
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 4002

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 4002

LGBTQ Business Equal Credit Enforcement and Investment Act
LGBTQ Business Equal Credit Enforcement and Investment Act
A bill to amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ-owned businesses.

Comments

Sponsors and Cosponsors of S 4002

Kirsten E. Gillibrand
Kirsten E. Gillibrand
New YorkDemocrat
Alex Padilla
Alex Padilla
CaliforniaDemocrat

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