US SB1961 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on June 25 2019 - 25% progression, died in committee
Action: 2019-06-25 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 25 2019 - 25% progression, died in committee
Action: 2019-06-25 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.)
Title
Small Business Lending Fairness Act
Sponsors
Sen. Sherrod Brown [D-OH] | Sen. Marco Rubio [R-FL] |
History
Date | Chamber | Action |
---|---|---|
2019-06-25 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Same As/Similar To
HB3490 (Similar To) 2020-03-19 - Placed on the Union Calendar, Calendar No. 336.
Subjects
Business ethics
Consumer credit
Contracts and agency
Finance and financial sector
Lawyers and legal services
Consumer credit
Contracts and agency
Finance and financial sector
Lawyers and legal services
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/1961/all-info |
Text | https://www.congress.gov/116/bills/s1961/BILLS-116s1961is.pdf |