S. 3235 · 117th Congress · Senate

Small Business Lending Disclosure Act of 2021

Active· Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced
Nov 18, 21
Passed Senate
Pending
Passed House
Pending
Sent to President
Pending
Signed into Law
Pending

Executive Summary

Small Business Lending Disclosure Act of 2021

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.