H.R. 2540 · 117th Congress
Small Business Lending Fairness Act
- Stage
- In committee
- Sponsor
- Nydia Velázquez
- Introduced
- 2021-04-14
- Latest action
- 2021-04-14 · Introduced in 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.)