summary
Introduced
04/14/2021
04/14/2021
In Committee
04/14/2021
04/14/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Truth in Lending Act to prohibit certain unfair credit practices, and for other purposes.
AI Summary
This bill, the Small Business Lending Fairness Act, amends the Truth in Lending Act to prohibit certain unfair credit practices. Specifically, it prohibits the use of cognovits, confessions of judgment, warrants of attorney, or other waivers of the right to notice and the opportunity to be heard in the event of a lawsuit or legal proceeding related to an obligation or debt. The bill also provides a broad definition of "debt" to include any obligation to pay money, regardless of whether it is absolute or contingent, and regardless of whether it has been reduced to judgment or is secured or unsecured.
Committee Categories
Housing and Urban Affairs
Sponsors (4)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 04/14/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/1119/all-info |
| BillText | https://www.congress.gov/117/bills/s1119/BILLS-117s1119is.pdf |
| Bill | https://www.congress.gov/117/bills/s1119/BILLS-117s1119is.pdf.pdf |
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