3.0.0 7889 2023-01-11T13:45:46Z 2023-01-11T13:45:46Z House HR 2020-07-30 116 [Congressional Record Volume 166, Number 135 (Thursday, July 30, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. VELAZQUEZ:H.R. 7889.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1The Congress shall have Power to . . . provide for the . .. general Welfare of the United States; . . .[Page H4190]]]> hsba00 Financial Services Committee House Standing Referred to 2020-07-30T13:00:40Z 2020-07-30 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2020-07-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-07-30 Introduced in House IntroReferral 1000 9 Library of Congress V000081 Rep. Velazquez, Nydia M. [D-NY-7] NYDIA VELAZQUEZ D NY M. 7 N Finance and Financial Sector Banking and financial institutions regulation Business records Civil actions and liability Consumer Financial Protection Bureau Consumer affairs Contracts and agency Credit and credit markets Executive agency funding and structure Financial services and investments Fraud offenses and financial crimes Interest, dividends, interest rates Licensing and registrations Small business State and local government operations User charges and fees Finance and Financial Sector 00 2020-07-30 Introduced in House 2020-12-12T03:09:22Z Small Business Lending Disclosure and Broker Regulation Act of 2020

This bill applies specified commercial 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.

Additionally, the bill establishes an Office of Broker Regulation within the bureau to regulate brokers of small business financing.

]]> Small Business Lending Disclosure and Broker Regulation Act of 2020 Display Title Small Business Lending Disclosure and Broker Regulation Act of 2020 Short Title(s) as Introduced Small Business Lending Disclosure and Broker Regulation Act of 2020 Introduced in House IH Official Title as Introduced To apply the Truth in Lending Act to small business financing, to regulate brokers and require the licensing of brokers, and for other purposes. Introduced in House IH Introduced in House 2020-07-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7889ih/xml/BILLS-116hr7889ih.xml 2020-07-30 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.