H.R. 3490: Small Business Lending Fairness Act

CBO Score


Date of Report

Tue March 3rd, 2020

Legislation Details

116th Congress

To amend the Truth in Lending Act to prohibit certain unfair credit practices, and for other purposes.

Sponsor: Rep. Nydia Velázquez — D — NY

Prohibits creditors and debtors from entering into contracts that contain confessions of judgement, or similar legal mechanisms in which a debtor waives their right to mount a legal defense in the event of a breach of contract.

View the full vote history of this bill on GovTrack.us.

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