S. 1961
Referred to CommitteeSmall Business Lending Fairness Act
Introduced 6/25/2019•116th Congress•Senate
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
6/25/2019 • Senate
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.)
Introduced in Senate • 6/25/2019
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Topics & Subjects
Policy Area: Finance and Financial Sector
Business ethicsConsumer creditContracts and agencyLawyers and legal services
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Related Federal Spending
Sponsor & Cosponsors (2)
Party Breakdown
1
Democrats
1
Republicans
0
Independents
Sponsor
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Cosponsors (1)
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Bill Journey
Originated in the Senate
Introduced
June 25, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Introduced in Senate6/25/2019