SB3421: LGBTQI Business Equal Credit Enforcement and Investment Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQI-owned businesses.
Plain-language summary
This bill would require banks and lenders to collect and report data on loans given to businesses owned by LGBTQI people (lesbian, gay, bisexual, transgender, queer, and intersex individuals). The data collection would be added to the Equal Credit Opportunity Act, which is a federal law preventing discrimination in lending. Currently, lenders do not systematically track this information. The bill was introduced in Congress but has not yet been considered by any .
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SB3421: LGBTQI Business Equal Credit Enforcement and Investment Act