Small Business Financing Disclosure Act of 2023
- Last Action
- 6/15/2023
Actions
- 2023-06-15Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 2023-06-15Introduced in Senate
CRS Summary
As of 2023-06-15 (00)
Small Business Lending Disclosure Act of 2023
This bill applies specified consumer lending protections to small business lending and extends the Consumer Financial Protection Bureau's regulatory authority regarding consumer financial products and services to include small business financing. Among other requirements, lenders offering financial products to small businesses must disclose the terms of the financing upon extending an offer and are prohibited from charging certain additional fees on a refinanced or modified loan.
Cosponsors (3)
- Sherrod Brown (D-OH)
- Ron Wyden (D-OR)
- Ben Cardin (D-MD)
Sourced from Congress.gov (public domain).
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