Small Business Financing Disclosure Act of 2023

Main Subject: Finance and financial sector

Small Business Lending Disclosure Act of 2023

This bill applies specified consumer 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.

Senate Actions

IntroReferral
Jun. 15 2023	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Library of Congress Actions

IntroReferral
Jun. 15 2023	Introduced in Senate

Senate bill S2021-118

Small Business Financing Disclosure Act of 2023

Promote the cause!

Or use this QR code