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LGBTQ Business Equal Credit Enforcement and Investment Act
4/17/2024, 11:45 PM
Summary of Bill HR 1443
Bill 117 HR 1443, also known as the LGBTQ Business Equal Credit Enforcement and Investment Act, aims to address discrimination faced by LGBTQ-owned businesses in accessing credit and investment opportunities. The bill seeks to amend the Equal Credit Opportunity Act to explicitly prohibit discrimination based on sexual orientation and gender identity in credit transactions.
The legislation would require financial institutions to collect data on the sexual orientation and gender identity of credit applicants in order to monitor and address any disparities in lending practices. It also establishes a grant program to provide technical assistance and support to LGBTQ-owned businesses seeking access to credit and investment opportunities.
Additionally, the bill includes provisions to promote diversity and inclusion in the financial services industry, such as requiring financial institutions to report on their efforts to support LGBTQ-owned businesses and participate in outreach and training programs. Overall, the LGBTQ Business Equal Credit Enforcement and Investment Act aims to level the playing field for LGBTQ-owned businesses and ensure they have equal access to the financial resources needed to thrive and grow.
The legislation would require financial institutions to collect data on the sexual orientation and gender identity of credit applicants in order to monitor and address any disparities in lending practices. It also establishes a grant program to provide technical assistance and support to LGBTQ-owned businesses seeking access to credit and investment opportunities.
Additionally, the bill includes provisions to promote diversity and inclusion in the financial services industry, such as requiring financial institutions to report on their efforts to support LGBTQ-owned businesses and participate in outreach and training programs. Overall, the LGBTQ Business Equal Credit Enforcement and Investment Act aims to level the playing field for LGBTQ-owned businesses and ensure they have equal access to the financial resources needed to thrive and grow.
Current Status of Bill HR 1443
Bill HR 1443 is currently in the status of Bill Introduced since February 26, 2021. Bill HR 1443 was introduced during Congress 117 and was introduced to the House on February 26, 2021. Bill HR 1443's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of July 12, 2021
Bipartisan Support of Bill HR 1443
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1443
Primary Policy Focus
Finance and Financial SectorComments
Sponsors and Cosponsors of HR 1443
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