H.R. 3490
IntroducedSmall Business Lending Fairness Act
Introduced 6/25/2019•116th Congress•House
Latest Action
Placed on the Union Calendar, Calendar No. 336.
3/19/2020 • House
Summary
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.)
Reported to House • 3/19/2020
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Topics & Subjects
Policy Area: Finance and Financial Sector
Business ethicsConsumer creditContracts and agencyLawyers and legal services
CBO Cost Estimates (1)
Congressional Votes (0)
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Related Federal Spending
Sponsor & Cosponsors (3)
Party Breakdown
2
Democrats
1
Republicans
0
Independents
Sponsor
R[
Cosponsors (2)
R[
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Bill Journey
Originated in the House
Introduced
June 25, 2019
Committee Review
November 13, 2019
Committee Consideration and Mark-up Session Held.
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (2)
Reported in House3/19/2020
Introduced in House6/25/2019