LGBTQI Business Equal Credit Enforcement and Investment Act
12/20/2023, 3:15 PMSummary of Bill S 3421
Bill 118 s 3421, also known as the LGBTQI Business Equal Credit Enforcement and Investment Act, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to address discrimination faced by LGBTQI individuals in accessing credit and financial services for their businesses.The bill aims to prohibit discrimination against LGBTQI-owned businesses by financial institutions when it comes to providing credit and investment opportunities. It seeks to ensure that these businesses have equal access to capital and resources needed to thrive and grow.
Additionally, the bill includes provisions for the enforcement of these anti-discrimination measures, as well as requirements for financial institutions to report on their lending practices to LGBTQI-owned businesses. This transparency is intended to hold institutions accountable and ensure that they are complying with the law. Overall, the LGBTQI Business Equal Credit Enforcement and Investment Act is a step towards promoting equality and fairness in the financial sector for LGBTQI entrepreneurs. It seeks to level the playing field and create opportunities for these businesses to succeed and contribute to the economy.
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Current Status of Bill S 3421
Bill S 3421 is currently in the status of Bill Introduced since December 6, 2023. Bill S 3421 was introduced during Congress 118 and was introduced to the Senate on December 6, 2023. Bill S 3421's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of December 6, 2023Bipartisan Support of Bill S 3421
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
2Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 3421
Primary Policy Focus
Alternate Title(s) of Bill S 3421
LGBTQI Business Equal Credit Enforcement and Investment ActLGBTQI Business Equal Credit Enforcement and Investment ActA bill to amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQI-owned businesses.Comments
Most relevant
Sponsors and Cosponsors of S 3421
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