H.R. 1443: LGBTQ Business Equal Credit Enforcement and Investment Act
Legislation Details
117th Congress
To amend the Equal Credit Opportunity Act to require the collection of small business loan data related to LGBTQ-owned businesses.
Sponsor: Rep. Ritchie Torres — D — NY
Requires financial institutions to report certain credit application data to the Consumer Financial Protection Bureau for the purposes of enforcing fair lending laws. Specifically, financial institutions must report this data regarding lesbian-, gay-, bisexual-, transgender-, or queer-owned businesses. Currently, this data is reported regarding women-owned, minority-owned, and small businesses.
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