[House Report 116-656]
[From the U.S. Government Publishing Office]


116th Congress    }                                    {       Report
                        HOUSE OF REPRESENTATIVES
 2d Session       }                                    {       116-656

======================================================================



 
           SMALL BUSINESS FAIR DEBT COLLECTION PROTECTION ACT

                                _______
                                

 December 16, 2020.--Committed to the Committee of the Whole House on 
            the State of the Union and ordered to be printed

                                _______
                                

  Ms. Waters, from the Committee on Financial Services, submitted the 
                               following

                              R E P O R T

                             together with

                             MINORITY VIEWS

                        [To accompany H.R. 5013]

    The Committee on Financial Services, to whom was referred 
the bill (H.R. 5013) to apply the Fair Debt Collection 
Practices Act to small businesses to the same extent as such 
Act applies to consumers, to require the Director of the Bureau 
of Consumer Financial Protection to define ``small business'' 
for purposes of such Act, and for other purposes, having 
considered the same, report favorably thereon with amendments 
and recommend that the bill as amended do pass.

                                CONTENTS

                                                                   Page
Purpose and Summary..............................................     2
Background and Need for Legislation..............................     3
Section-by-Section Analysis......................................     3
Hearings.........................................................     4
Committee Consideration..........................................     4
Committee Votes..................................................     4
Statement of Oversight Findings and Recommendations of the 
  Committee......................................................     6
Statement of Performance Goals and Objectives....................     6
New Budget Authority and CBO Cost Estimate.......................     6
Committee Cost Estimate..........................................     6
Unfunded Mandate Statement.......................................     6
Advisory Committee...............................................     6
Application of Law to the Legislative Branch.....................     6
Earmark Statement................................................     7
Duplication of Federal Programs..................................     7
Changes to Existing Law..........................................     7

    The amendments are follows:
  Strike all after the enacting clause and insert the 
following:

SECTION 1. SHORT TITLE.

  This Act may be cited as the ``Small Business Fair Debt Collection 
Protection Act''.

SEC. 2. FAIR DEBT COLLECTION PRACTICES FOR LOANS TO SMALL BUSINESSES.

  (a) In General.--The Fair Debt Collection Practices Act (15 U.S.C. 
1692 et seq.) is amended--
          (1) in section 803--
                  (A) by amending paragraph (5) to read as follows:
          ``(5) The term `debt' means any obligation or alleged 
        obligation to pay money arising out of a transaction, whether 
        or not such obligation has been reduced to judgment.''; and
                  (B) by adding at the end the following new paragraph:
          ``(9) The term `commercial credit bureau' means any person 
        which, for monetary fees, dues, or on a cooperative nonprofit 
        basis, regularly engages in whole or in part in the practice of 
        assembling or evaluating commercial credit information or other 
        information on businesses for the purpose of furnishing credit 
        reports to third parties, and which uses any means or facility 
        of interstate commerce for the purpose of preparing or 
        furnishing credit reports.'';
          (2) by redesignating section 819 as section 820; and
          (3) by inserting after section 818 the following:

``Sec. 819. Application to small business debt

  ``(a) In General.--This Act shall apply to small business debt to the 
same extent as this Act applies to debt of consumers.
  ``(b) Small Business Debt Defined.--The term `small business debt'--
          ``(1) means any non-equity obligation or alleged obligation 
        of a partnership, corporation, trust, estate, cooperative, 
        association, government or governmental subdivision or agency, 
        or other entity that is less than $5,000,000; and
          ``(2) does not include any obligation or alleged obligation--
                  ``(A) of an individual; or
                  ``(B) that is primarily for personal, family, or 
                household purposes.''.
  (b) Clerical Amendment.--The table of contents for the Fair Debt 
Collection Practices Act is amended by striking the item relating to 
section 819 and inserting the following:

``819. Application to small business debt.
``820. Effective date.''.

  (c) Conforming Amendments.--The Fair Debt Collection Practices Act 
(15 U.S.C. 1692 et seq.) is amended--
          (1) in section 805(b), by inserting ``or a commercial credit 
        bureau (as applicable)'' after ``consumer reporting agency'';
          (2) in section 806(3)--
                  (A) by striking ``consumers who'' and inserting 
                ``consumers or small businesses that''; and
                  (B) by inserting `` or to a commercial credit bureau 
                (as applicable),'' after ``consumer reporting agency''; 
                and
          (3) in section 807(16), by inserting ``or a commercial credit 
        bureau'' after ``this Act''.

    Amend the title so as to read:
    A bill to apply the Fair Debt Collection Practices Act to 
small business debt to the same extent as such Act applies to 
consumers, and for other purposes.

                          Purpose and Summary

    On November 8, 2019, Congressman Al Lawson introduced H.R. 
5013, the ``Small Business Fair Debt Collection Protection 
Act,'' which expands the Fair Debt Collection Practices Act's 
(FDCPA) protections to cover small business loans, as 
determined by CFPB in consultation with the Small Business 
Administration.

                  Background and Need for Legislation

    In 1977, Congress enacted the FDCPA in order to help curb 
abusive debt collection practices. CFPB has authority to write 
regulations implementing the FDCPA. The agency also enforces 
the law, along with the Federal Trade Commission (FTC). The 
FDCPA defines a debt collector as a third-party entity whose 
primary business is in collection or pursing debts owed to a 
creditor. However, entities pursing business debts (including 
small business debts) are not covered by FDCPA.
    Small business loan borrowers do not enjoy the same 
protections individual consumers have under federal law. Some 
stakeholders have argued that small business borrowers should 
be treated fairly and respectfully throughout a collections 
process and have similar protections afforded to consumers 
under the FDCPA. Recently, the New York Times investigated how 
this practice has harmed taxi drivers with overvalued taxi 
medallion loans that have left thousands of drivers bankrupt. 
Some consumers looking to earn a living as taxi medallion 
operators were offered and signed contracts amounting up to $1 
million dollars. These lenders loosened standards and 
encouraged borrowers to refinance and take out more money when 
medallion prices rose. As was discussed in testimony by 
Bhairavi Desai, Executive Director of the New York Taxi Workers 
Alliance, some lenders included confession of judgement 
provisions in the contracts. As taxi revenue fell, some lenders 
refinanced terms while others exercised confessions of 
judgments to garnish wages, seize medallions or other assets, 
and employed private debt collectors who reportedly harassed 
affected borrowers after they had defaulted.
    This legislation would amend FDCPA to expand the definition 
of debt to include debt incurred from small business loans. It 
would restrict the means and methods by which collectors can 
contact small business debtors, as well as the time of day and 
number of times contact can be made. Furthermore, it would 
limit actions of third-party debt collectors who are attempting 
to collect debts from small businesses on behalf of another 
person or entity.

                      Section-by-Section Analysis


Section 1. Short Title.

    This section provides that H.R. 5013 may be cited as the 
``Small Business Fair Debt Collection Protection Act''.

Section 2. Consumer Protections Related to Debt Collection Practices

    Amends Section 803 of The Fair Debt Collection Practices 
Act (15 U.S.C. 1692 et seq.) to define debt as ``any obligation 
or alleged obligation to pay money arising out of a 
transaction, whether or not such obligation has been reduced to 
judgment.''
    Amends Section 803 of The Fair Debt Collection Practices 
Act (15 U.S.C. 1692 et seq.) by adding a new section entitled 
``Application to Small Businesses''. This applies the Act to 
small businesses in the same manner as the Act applies to 
consumers. This section requires the Director of the Bureau to 
issue a rule to define the term `small business' for purposes 
of this section.
    Makes a clerical amendment by striking the effective date 
section and replacing it with an amendment to Section 806(3) of 
the Fair Debt Collection Practices Act (15 U.S.C. 1692d). This 
amendment protects small businesses from harassment or abuse by 
prohibiting small businesses from being published on a list of 
consumers who allegedly refuse to pay debts.

                                Hearings

    For the purposes of section 103(i) of H. Res. 6 for the 
116th Congress, on September 26, 2019, the Committee on 
Financial Services held a hearing entitled, ``Examining 
Legislation to Protect Consumers and Small Business Owners from 
Abusive Debt Collection Practices'' to discuss three bills and 
seven discussion drafts. A discussion draft of HR 5013 the 
``Small Business Lending Fairness Act'', was considered. 
Witnesses included the Honorable Rohit Chopra, Commissioner, 
Federal Trade Commission; Rev. Dr. Cassandra Gould, Pastor, 
Quinn Chapel A.M.E. Church and Exceutive Director, Missouri 
Faith Voices; Ms. Bhairavi Desai, Executive Director, New York 
Taxi Workers Alliance; Ms. April Kuehnhoff, Staff Attorney, 
National Consumer Law Center; Professor Dalie Jimenez, 
Professor of Law, University of California, Irvine School of 
Law; Ms. Sarah Auchterlonie, Shareholder, Brownstein Hyatt 
Farber Schreck; and Mr. John H. Bedard, Jr., Owner, Bedard Law 
Group, P.C.

                        Committee Consideration

    The Committee on Financial Services met in open session on 
November 13, 2019, and ordered H.R. 5013 to be reported 
favorably to the House as amended in the nature of a substitute 
by a recorded vote of 31 yeas and 23 neas, a quorum being 
present.

                  Committee Votes and Roll Call Votes

    In compliance with clause 3(b) of rule XIII of the Rules of 
the House of Representatives, the Committee advises that the 
following roll call votes occurred during the Committee's 
consideration of H.R. 5013:


	     [GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT]



  Statement of Oversight Findings and Recommendations of the Committee

    In compliance with clause 3(c)(1) of rule XIII and clause 
2(b)(1) of rule X of the Rules of the House of Representatives, 
the Committee's oversight findings and recommendations are 
reflected in the descriptive portions of this report.

             Statement of Performance Goals and Objectives

    Pursuant to clause (3)(c) of rule XIII of the Rules of the 
House of Representatives, the goals of H.R. 5013 are to expand 
the definition of debt to include debt incurred from small 
business loans; to restrict the means and methods by which 
collectors can contact small business debtors, as well as the 
time of day and number of times contact can be made; and to 
limit actions of third-party debt collectors who are attempting 
to collect debts from small businesses on behalf of another 
person or entity.

               New Budget Authority and CBO Cost Estimate

    Pursuant to clause 3(c)(2) of rule XIII of the Rules of the 
House of Representatives and section 308(a) of the 
Congressional Budget Act of 1974, and pursuant to clause 
3(c)(3) of rule XIII of the Rules of the House of 
Representatives and section 402 of the Congressional Budget Act 
of 1974, the Committee has requested an estimate for H.R. 5013 
from the Director of the Congressional Budget Office. CBO was 
unable to provide an estimate in a timely manner.

                        Committee Cost Estimate

    Clause 3(d)(1) of rule XIII of the Rules of the House of 
Representatives requires an estimate and a comparison of the 
costs that would be incurred in carrying out H.R. 5013. After 
careful review, including discussions with CBO, and after 
consulting with debt collection experts, the Committee 
estimates that this legislation will have an insignificant 
effect on spending.

                       Unfunded Mandate Statement

    Pursuant to Section 423 of the Congressional Budget and 
Impoundment Control Act (as amended by Section 101(a)(2) of the 
Unfunded Mandates Reform Act, Pub. L. 104-4), the Committee 
does not believe H.R. 5013, as amended, contains any unfunded 
mandates and adopts any future estimate in this regard prepared 
by the Director of the Congressional Budget Office.

                           Advisory Committee

    No advisory committees within the meaning of section 5(b) 
of the Federal Advisory Committee Act were created by this 
legislation.

              Application of Law to the Legislative Branch

    Pursuant to section 102(b)(3) of the Congressional 
Accountability Act, Pub. L. No. 104-1 H.R. 5013, as amended, 
does not apply to terms and conditions of employment or to 
access to public services or accommodations within the 
legislative branch.

                           Earmark Statement

    In accordance with clause 9 of rule XXI of the Rules of the 
House of Representatives, H.R. 5013 does not contain any 
congressional earmarks, limited tax benefits, or limited tariff 
benefits as described in clauses 9(e), 9(f), and 9(g) of rule 
XXI.

                    Duplication of Federal Programs

    Pursuant to clause 3(c)(5) of rule XIII of the Rules of the 
House of Representatives, the Committee states that no 
provision of H.R. 5013 establishes or reauthorizes a program of 
the Federal Government known to be duplicative of another 
federal program, a program that was included in any report from 
the Government Accountability Office to Congress pursuant to 
section 21 of Public Law 111-139, or a program related to a 
program identified in the most recent Catalog of Federal 
Domestic Assistance.

                        Changes to Existing Law

    In compliance with clause 3(e) of rule XIII of the Rules of 
the House of Representatives, changes in existing law made by 
the bill, H.R. 5013, as reported, are shown as follows:

         Changes in Existing Law Made by the Bill, as Reported

  In compliance with clause 3(e) of rule XIII of the Rules of 
the House of Representatives, changes in existing law made by 
the bill, as reported, are shown as follows (existing law 
proposed to be omitted is enclosed in black brackets, new 
matter is printed in italics, and existing law in which no 
change is proposed is shown in roman):

                   FAIR DEBT COLLECTION PRACTICES ACT


                 TITLE VIII--DEBT COLLECTION PRACTICES

Sec.
801. Short title.
     * * * * * * *
[819. Effective date.]
 819. Application to small business debt.
 820. Effective date.

           *       *       *       *       *       *       *


Sec. 803. Definitions

   As used in this title--
          (1) The term ``Bureau'' means the Bureau of Consumer 
        Financial Protection.
          (2) The term ``communication'' means the conveying of 
        information regarding a debt directly or indirectly to 
        any person through any medium.
          (3) The term ``consumer'' means any natural person 
        obligated or allegedly obligated to pay any debt.
          (4) The term ``creditor'' means any person who offers 
        or extends credit creating a debt or to whom a debt is 
        owed, but such term does not include any person to the 
        extent that he receives an assignment or transfer of a 
        debt in default solely for the purpose of facilitating 
        collection of such debt for another.
          [(5) The term ``debt'' means any obligation or 
        alleged obligation of a consumer to pay money arising 
        out of a transaction in which the money, property, 
        insurance, or services which are the subject of the 
        transaction are primarily for personal, family, or 
        household purposes, whether or not such obligation has 
        been reduced to judgment.]
          (5) The term ``debt'' means any obligation or alleged 
        obligation to pay money arising out of a transaction, 
        whether or not such obligation has been reduced to 
        judgment.
          (6) The term ``debt collector'' means any person who 
        uses any instrumentality of interstate commerce or the 
        mails in any business the principal purpose of which is 
        the collection of any debts, or who regularly collects 
        or attempts to collect, directly or indirectly, debts 
        owed or due or asserted to be owed or due another. 
        Notwithstanding the exclusion provided by clause (F) of 
        the last sentence of this paragraph, the term includes 
        any creditor who, in the process of collecting his own 
        debts, uses any name other than his own which would 
        indicate that a third person is collecting or 
        attempting to collect such debts. For the purpose of 
        section 808(6), such term also includes any person who 
        uses any instrumentality of interstate commerce or the 
        mails in any business the principal purpose of which is 
        the enforcement of security interests. The term does 
        not include--
                  (A) any officer or employee of a creditor 
                while, in the name of the creditor, collecting 
                debts for such creditor;
                  (B) any person while acting as a debt 
                collector for another person, both of whom are 
                related by common ownership or affiliated by 
                corporate control, if the person acting as a 
                debt collector does so only for persons to whom 
                it is so related or affilated and if the 
                principal business of such person is not the 
                collection of debts;
                  (C) any officer or employee of the United 
                States or any State to the extent that 
                collecting or attempting to collect any debt is 
                in the performance of his official duties;
                  (D) any person while serving or attempting to 
                serve legal process on any other person in 
                connection with the judicial enforcement of any 
                debt;
                  (E) any nonprofit organization which, at the 
                request of consumers, performs bona fide 
                consumer credit counseling and assists 
                consumers in the liquidation of their debts by 
                receiving payments from such consumers and 
                distributing such amounts to creditors;
                  (F) any person collecting or attempting to 
                collect any debt owed or due or asserted to be 
                owed or due another to the extent such activity 
                (i) is incidental to a bona fide fiduciary 
                obligation or a bona fide escrow arrangement; 
                (ii) concerns a debt which was originated by 
                such person; (iii) concerns a debt which was 
                not in default at the time it was obtained by 
                such person; or (iv) concerns a debt obtained 
                by such person as a secured party in a 
                commercial credit transaction involving the 
                creditor.
          (7) The term ``location information'' means a 
        consumer's place of abode and his telephone number at 
        such place, or his place of employment.
          (8) The term ``State'' means any State, territory, or 
        possession of the United States, the District of 
        Columbia, the Commonwealth of Puerto Rico, or any 
        political subdivision of any of the foregoing.
          (9) The term ``commercial credit bureau'' means any 
        person which, for monetary fees, dues, or on a 
        cooperative nonprofit basis, regularly engages in whole 
        or in part in the practice of assembling or evaluating 
        commercial credit information or other information on 
        businesses for the purpose of furnishing credit reports 
        to third parties, and which uses any means or facility 
        of interstate commerce for the purpose of preparing or 
        furnishing credit reports.

           *       *       *       *       *       *       *


Sec. 805. Communication in connection with debt collection

  (a) Communication With the Consumer Generally.--Without the 
prior consent of the consumer given directly to the debt 
collector or the express permission of a court of competent 
jurisdiction, a debt collector may not communicate with a 
consumer in connection with the collection of any debt--
          (1) at any unusual time or place or a time or place 
        known or which should be known to be inconvenient to 
        the consumer. In the absence of knowledge of 
        circumstances to the contrary, a debt collector shall 
        assume that the convenient time for communicating with 
        a consumer is after 8 o'clock antimeridian and before 9 
        o'clock postmeridian, local time at the consumer's 
        location;
          (2) if the debt collector knows the consumer is 
        represented by an attorney with respect to such debt 
        and has knowledge of, or can readily ascertain, such 
        attorney's name and address, unless the attorney fails 
        to respond within a reasonable period of time to a 
        communication from the debt collector or unless the 
        attorney consents to direct communication with the 
        consumer; or
          (3) at the consumer's place of employment if the debt 
        collector knows or has reason to know that the 
        consumer's employer prohibits the consumer from 
        receiving such communication.
  (b) Communication With Third Parties.--Except as provided in 
section 804, without the prior consent of the consumer given 
directly to the debt collector, or the express permission of a 
court of competent jurisdiction, or as reasonably necessary to 
effectuate a post judgment judicial remedy, a debt collector 
may not communicate, in connection with the collection of any 
debt, with any person other than the consumer, his attorney, a 
consumer reporting agency or a commercial credit bureau (as 
applicable) if otherwise permitted by law, the creditor, the 
attorney of the creditor, or the attorney of the debt 
collector.
  (c) Ceasing Communication.--If a consumer notifies a debt 
collector in writing that the consumer refuses to pay a debt or 
that the consumer wishes the debt collector to cease further 
communication with the consumer, the debt collector shall not 
communicate further with the consumer with respect to such 
debt, except--
          (1) to advise the consumer that the debt collector's 
        further efforts are being terminated:
          (2) to notify the consumer that the debt collector or 
        creditor may invoke specified remedies which are 
        ordinarily invoked by such debt collector or creditor; 
        or
          (3) where applicable, to notify the consumer that the 
        debt collector or creditor intends to invoke a 
        specified remedy.
If such notice from the consumer is made by mail, notification 
shall be complete upon receipt.
  (d) For the purpose of this section, the term ``consumer'' 
includes the consumer's spouse, parent (if the consumer is a 
minor), guardian, executor, or administrator.

Sec. 806. Harassment or abuse

   A debt collector may not engage in any conduct the natural 
consequence of which is to harass, oppress, or abuse any person 
in connection with the collection of a debt. Without limiting 
the general application of the foregoing, the following conduct 
is a violation of this section:
          (1) The use or threat of use of violence or other 
        criminal means to harm the physical person, reputation, 
        or property of any person.
          (2) The use of obscene or profane language or 
        language the natural consequence of which is to abuse 
        the hearer or reader.
          (3) The publication of a list of [consumers who] 
        consumers or small businesses that allegedly refuse to 
        pay debts, except to a consumer reporting agency or to 
        a commercial credit bureau (as applicable), or to 
        persons meeting the requirements of section 603(f) or 
        604(3) of this Act.
          (4) The advertisement for sale of any debt to coerce 
        payment of the debt.
          (5) Causing a telephone to ring or engaging any 
        person in telephone conversation repeatedly or 
        continuously with intent to annoy, abuse, or harass any 
        person at the called number.
          (6) Except as provided in section 804, the placement 
        of telephone calls without meaningful disclosure of the 
        caller's identity.

Sec. 807. False or misleading representations

   A debt collector may not use any false, deceptive, or 
misleading representation or means in connection with the 
collection of any debt. Without limiting the general 
application of the foregoing, the following conduct is a 
violation of this section:
          (1) The false representation or implication that the 
        debt collector is vouched for, bonded by, or affiliated 
        with the United States or any State, including the use 
        of any badge, uniform, or facsimile thereof.
          (2) The false representation of--
                  (A) the character, amount, or legal status of 
                any debt; or
                  (B) any services rendered or compensation 
                which may be lawfully received by any debt 
                collector for the collection of a debt.
          (3) The false representation or implication that any 
        individual is an attorney or that any communication is 
        from an attorney.
          (4) The representation or implication that nonpayment 
        of any debt will result in the arrest or imprisonment 
        of any person or the seizure, garnishment, attachment, 
        or sale of any property or wages of any person unless 
        such action is lawful and the debt collector or 
        creditor intends to take such action.
          (5) The threat to take any action that cannot legally 
        be taken or that is not intended to be taken.
          (6) The false representation or implication that a 
        sale, referral, or other transfer of any interest in a 
        debt shall cause the consumer to--
                  (A) lose any claim or defense to payment of 
                the debt; or
                  (B) become subject to any practice prohibited 
                by this title.
          (7) The false representation or implication that the 
        consumer committed any crime or other conduct in order 
        to disgrace the consumer.
          (8) Communicating or threatening to communicate to 
        any person credit information which is known or which 
        should be known to be false, including the failure to 
        communicate that a disputed debt is disputed.
          (9) The use or distribution of any written 
        communication which simulates or is falsely represented 
        to be a document authorized, issued, or approved by any 
        court, official, or agency of the United States or any 
        State, or which creates a false impression as to its 
        source, authorization, or approval.
          (10) The use of any false representation or deceptive 
        means to collect or attempt to collect any debt or to 
        obtain information concerning a consumer.
          (11) The failure to disclose in the initial written 
        communication with the consumer and, in addition, if 
        the initial communication with the consumer is oral, in 
        that initial oral communication, that the debt 
        collector is attempting to collect a debt and that any 
        information obtained will be used for that purpose, and 
        the failure to disclose in subsequent communications 
        that the communication is from a debt collector, except 
        that this paragraph shall not apply to a formal 
        pleading made in connection with a legal action.
          (12) The false representation or implication that 
        accounts have been turned over to innocent purchasers 
        for value.
          (13) The false representation or implication that 
        documents are legal process.
          (14) The use of any business, company, or 
        organization name other than the true name of the debt 
        collector's business, company, or organization.
          (15) The false representation or implication that 
        documents are not legal process forms or do not require 
        action by the consumer.
          (16) The false representation or implication that a 
        debt collector operates or is employed by a consumer 
        reporting agency as defined by section 603(f) of this 
        Act or a commercial credit bureau.

           *       *       *       *       *       *       *


Sec. 819. Application to small business debt

  (a) In General.--This Act shall apply to small business debt 
to the same extent as this Act applies to debt of consumers.
  (b) Small Business Debt Defined.--The term ``small business 
debt''--
          (1) means any non-equity obligation or alleged 
        obligation of a partnership, corporation, trust, 
        estate, cooperative, association, government or 
        governmental subdivision or agency, or other entity 
        that is less than $5,000,000; and
          (2) does not include any obligation or alleged 
        obligation--
                  (A) of an individual; or
                  (B) that is primarily for personal, family, 
                or household purposes.

Sec. [819.]  820. Effective date

  This title takes effect upon the expiration of six months 
after the date of its enactment, but section 809 shall apply 
only with respect to debts for which the initial attempt to 
collect occurs after such effective date.

           *       *       *       *       *       *       *


                             MINORITY VIEWS

    Committee Republicans support small businesses, including 
ensuring they have access to the resources they need. However, 
H.R. 5013, the Small Business Fair Debt Collection Protection 
Act, would expand the Fair Debt Collection Practices Act 
(FDCPA) to pull small businesses under the jurisdiction of the 
Consumer Financial Protection Bureau (CFPB).
    This bill is another attempt by the Democrats to expand the 
already extensive authority of the CFPB beyond consumer 
financial products and services. Congressional Republicans 
believe granting broad authority to an agency that is not 
authorized or equipped to supervise commercial lending would 
only harm small businesses. The Small Business Administration 
(SBA) and the Federal Trade Commission (FTC), among others, are 
already well resourced to assist the millions of small 
businesses that exist nationwide, including their needs, 
grants, and programmatic support.
    Consumer loans differ from commercial loans. The borrowers 
are different, the pricing and underwriting are different, and 
the risk is different. If enacted, H.R. 5013 could 
fundamentally change the way lenders treat small business 
loans, potentially limiting access to or driving up the cost of 
credit.
    The Financial Services committee should thoroughly review 
the needs of small businesses to determine how the financial 
services industry can better support them. Committee 
Republicans oppose H.R. 5013 and call on the Democrat majority 
to focus on legislation that will actually help small 
businesses to continue to thrive, grow our economy, and create 
jobs.

                                   Alexander X. Mooney.
                                   David Kustoff.
                                   Lance Gooden.
                                   William R. Timmons, IV.
                                   Ted Budd.
                                   J. French Hill.
                                   John W. Rose.
                                   Anthony Gonzalez.
                                   Andy Barr.
                                   Ann Wagner.
                                   Bill Huizenga.
                                   Steve Stivers.
                                   Patrick T. McHenry.
                                   Warren Davidson.
                                   Barry Loudermilk.
                                   Tom Emmer.
                                   Scott R. Tipton.
                                   Roger Williams.
                                   Bryan Steil.
                                   Trey Hollingsworth.
                                   Denver Riggleman.
                                   Lee M. Zeldin.
                                   Frank D. Lucas.
                                   Blaine Luetkemeyer.
                                   Bill Posey.

                                  
                                  
                                  [all]