Bill journey · stage 2 of 5
Under committee review
What it doesSummary reported to house (Mar 19, 2020)
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.)
What just happenedMar 19, 2020
Placed on the Union Calendar, Calendar No. 336.
Who’s behind it
Placed on the Union Calendar, Calendar No. 336.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-417.
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-417.
Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 23.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
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.)
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.)